Tezos Is A Rollercoaster!

Early this morning, Tezos bounced all the way up to $3.50 and then leveled off around $3.30. Hours later, the security token/cryptocurrency was at it again, bouncing all the way up to a peak of $3.76 on the back of strong growth in market cap. We’ve now seen $2.4B, so the XTZ market capitalization has increased a full BILLION DOLLARS since I got involved two weeks ago on January 29, and with that kind of momentum tied to an explanation like the Coinbase retail investor promotion, the sky’s the limit. This sort of growth could go on for months, as long as the retail investors continue to pile onto this workhorse of a cryptocurrency/security token!

XTZ is hovering in the mid-$3 range now, bouncing crazily between a low of around $3.15 and the high of $3.76. This gives us an extremely large range of volatility to play with, and I believe it is safe to say that day traders and speculators have joined the party and are enjoying this wild, wild ride to the top.

My target for the week, $3.00, has been irrefutably shattered at this point. I am revising it to $4.50, which is dangerously close to my prior target for the month of February, so I’ll revise that up to $10. My current target for XTZ tokens for the year is hereby announced at $50.

Full Disclosure

I am long XTZ, and I’m under the impression that the coming week will bring continued rapid growth to the XTZ ecosystem. Targets: $4.50 this week, $10 March 1, $50 12/31/2020. This article is not investment advice. I’m not suggesting anyone place any money into the extremely volatile cryptocurrency marketplace.

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