NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Is Sony The Next Crypto Bank? Tech Giant Applies For A National Charter In The US
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Is Sony The Next Crypto Bank? Tech Giant Applies For A National Charter In The US

Why Analyst Who Predicted Bitcoin’s 2018 Low Isn’t Bullish on Stellar (XLM)

Nick Chong
Nick Chong
5 years ago
3 mins read
bitcoin price

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Like many other large-cap altcoins, Stellar Lumens (XLM) has performed well against Bitcoin and the U.S. dollar over recent weeks. Per data from TradingView, the asset is up by 58% against the dollar. And over that same time frame, it is up 24% against Bitcoin.

While a positive sign for the cryptocurrency, an analyst in the space isn’t too sure XLM will rally higher. This is the same analyst that predicted in the middle of 2018 that Bitcoin would bottom at $3,200 in that bear market.

Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold BTC, ETH’s DeFi Space Still in Vogue

Stellar Lumens’ Rally Could Soon Come To An End: Historically Accurate Analyst

The past few days have seen Stellar Lumens shed a majority of the gains it incurred in July. On the night of the flash crash just evenings ago, the asset plummeted, underperforming Bitcoin.

While a short-term bounce has since transpired, the aforementioned analyst sees some downside for XLM against Bitcoin. In an analysis published on August 5th, he wrote: 

“FWIW I dumped xlm, not interested anymore, close back into the breakout range is typically bearish and also looks like it was a 5 wave decline. I suspect it will likely head back down to lower range possibly even new lows, likely caused btc pumping, usd pair might be ok, I dunno.”

Image

Chart of XLM?BTC's price action over the past year with analysis by trader "SmartContracter" (the analyst's Twitter handle). Chart from TradingView.com
Related Reading: Coinbase Takes DeFi Focus as it Looks to List 19 New Crypto Assets

Underscoring this, few analysts expect altcoins to outperform Bitcoin as the leading cryptocurrency is breaking higher on macro trends. Bloomberg Intelligence senior commodities analyst Mike McGlone wrote in a July research note:

“Too much supply and ease of entry should continue to weigh on most alt-coins, still in an extended hangover from the parabolic gains to the 2017-18 peak. It’s the increasing differentiation, maturation and more widespread adoption that favors Bitcoin, which is becoming more of a gold-like store of value.”

Other Traders Beg to Differ

The aforementioned sentiment about Stellar Lumens is notably different from that of other analysts.

Another trader shared the chart below on August 3rd. As the chart shows, XLM’s recent price action has allowed the asset to break above a one-year-long accumulation range. This breakout, which was backed by “volume expansion,” is priming Stellar Lumens for a “130%” rally against Bitcoin. In his words: 

$XLM is still one of my favorites.

  1. Broke a +350 days of accumulation range
  2. Good volume expansion in the breakout
  3.  Break in market structure
  4. Currently retesting the accumulation range and making a new higher low.

Image

Chart of XLM/BTC macro price action with analysis by trader Inmortal Technique (@Inmortalcrypto on Twitter). Chart from TradingView.com
Featured Image from Shutterstock
Price tags: xlmusd, xlmbtc
Charts from TradingView.com
Why Analyst Who Predicted Bitcoin's 2018 Low Isn't Bullish on Stellar Lumens (XLM)
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

stellar xlm xlmusd

XLM Battles $0.45 Resistance Again: Is This the Breakout That Finally Sparks a Run to $1?

Stellar (XLM) has made its fourth attempt since June to break the $0.45 resistance, though it now trades at $0.36...

James Halver 1 month ago
stellar xlm xlmusd

Stellar Nears 10M Accounts as Institutions Pile In: Could XLM Be Poised for a Major Breakout?

Stellar (XLM) is fast approaching a major milestone as the network closes in on 10 million accounts, fueled by a...

James Halver 1 month ago
stellar xlm xlmusd

Stellar (XLM) Holds Near $0.42 as Analysts Eye 5x Gains by Q4 – Is Stellar the Next Top Crypto?

Stellar (XLM) is currently stabilizing near the $0.42 mark after a volatile July rally that pushed prices up by more...

James Halver 2 months ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

stellar xlm xlmusd

Stellar (XLM) Shows Signs of Strength: Analysts See $0.5 Target in Play

James Halver 3 weeks ago
Stellar XLM news

Payments Giants Set To Join Stellar, Says CPO—Will XLM Price Follow?

Jake Simmons 1 month ago
stellar xlm xlmusd

Stellar (XLM) Turns Bullish, Can the $0.386 Wall Finally Break?

James Halver 1 month ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の価格予測:強気ダイバージェンスが示す新たな上昇のチャンス

    ドージコイン...

    2 hours ago
  • リップル 今後の見通し:6,300万ドルの売却が発生も、賢い投資家はすでに買い増し開始

    リップル...

    2 hours ago
  • 仮想通貨プレセールで2,380万ドル超を調達した新プロジェクト、次に爆発的成長を遂げる可能性も

    ...

    3 hours ago
  • 仮想通貨おすすめ:市場暴落からの回復に苦戦する中で今注目すべき銘柄

    ...

    3 hours ago
  • イーロン・マスクがドージコインの“エネルギー”を強調、新しい仮想通貨がさらに注目を集める

    ...

    3 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.