Stellar price outlook, June-October 2020
Every week, we bring you fresh news and forecasts for Stellar lumens. And our forecasts have been correct so far: the price is growing. If you are hodling XLM in your XLMwallet, you’re being wise, because the fundamentals are all in Stellar’s favor!
A lot of things can happen in one month, and for Stellar all the change has been positive! Just look at this chart:
From $0.05 to $0.07 — that’s a 40% increase! Well done, Stellar, we believed in you. After all those months in the red, people are starting to rediscover the power of Stellar — the best crypto for payments, in our opinion.
Now that the Bitcoin halving has come and gone and the coronavirus pandemic situation is getting better, you should be asking: what’s next for Stellar? Is the global recession good for it? Is the end of the pandemic good for it?
In our opinion, the answer is yes and yes. You see, Stellar is fantastic for cross-border payments. And who sends most such payments? That’s right, people who work abroad and send remittances home. For months now they’ve been stuck without work. But as the virus recedes and the economy starts to recover, these hundreds of millions of workers will start sending money home again.
It’s inevitable that they turn to crypto sooner or later. Sending money with wire transfers and Western Union is expensive — and now is not the time to waste any money. When those work migrants set out to look for the cheapest way to make a remittance, they’ll come upon Stellar.
In just 3–5 seconds, you can get money from any point in the world virtually for free. This is the power of XLM. Can you imagine those workers sending money in BTC, waiting for an hour for their transaction to confirm and paying $1 every time? Once they find out that they could be paying virtually zero, they won’t even look at Bitcoin.
Of course, there’s the question of cashing out your XLM. It’s not as easy to convert lumens into fiat as it is with BTC, but it’s definitely possible. Perhaps we’ll even write a whole post about it!
The recent partnerships that we wrote about last time are another proof that Stellar is making fast progress on the way to being a major means of payment and investment. The consequences of the coronavirus will give it another push that it needs. So, our forecast is: up and up. If you have Stellar in your XLMwallet, definitely keep them there.
As for precise figures, we expect the price to rise to $0.1 by August. That’s another 40%, but we think it’s totally doable for Stellar.
Now, we always tell you that XLMwallet is the perfect wallet to send lumens to your friends and pay for goods and services. And that’s true — we don’t know of any other wallet that would be so light, fast and easy to use. But this time, we advise you to hold on to your XLM. If you need to make a purchase, rather do it in some other cryptocurrency. Because if you spend your Stellar now that in 3 months it grows by 40%, how will you feel? Disappointed, right?
Do you agree with our $0.01-by-August prediction? If not, share your own forecast in the comments.
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