Why Stellar is the best crypto to buy and hold right now
Crypto prices have gone down in the past few days due to the coronavirus epidemic and other factors. It's a good moment to buy – and Stellar is among the best coins to buy. Read on for an analysis from the XLMwallet team!
When the coronavirus outbreak just started, the price of Bitcoin and other crypto went up sharply. Many said that the virus would be good for Bitcoin. Why? Because BTC is a safe haven asset, like gold. People invest in it when there's a lot of market uncertainty. The rise of BTC in February led to a general increase in crypto prices. Here's a chart for Stellar – you can see an increase around February 15, when the price rose to $0.086:
But this was when the outbreak was confined to China. Now, the center of the virus crisis is in Europe, and the markets are panicking again.
Another piece of news that rattled the crypto market and the price of Stellar is the fall in oil prices. OPEC and Russia didn't manage to make a deal, and this can cause a price war. On March 9, the price of oil fell by over 20%. Because of this, all kinds of assets started to fall, including crypto.
People are now selling off high-risk assets, such as stocks, options and crypto. Bitcoin may be a safe haven asset in a way, but it's still very volatile, so nobody sees it as an equivalent to gold.
Right now the price of XLM is just $0.05. Stellar lost 37.5% of the value in a little more than 3 weeks. What should you do?
Now is a good moment to buy
If you already hold XLM, you should definitely hold on to them. And here at XLMwallet we believe that you should buy more.
We all know that in crypto you should buy on a dip. Right now there's a huge dip for all top-20 coins. Bitcoin has lost about 22% of its price since mid-February, from $10400 to $8100. So it's also a good buy, of course. But Stellar, having dipped almost 38%, is even better. XLM is now cheap not only relative to USD but also relative to BTC.
So why will Stellar grow? Because crypto prices don't depend much on geopolitical factors in the long term. They can react for a short time when there's a general crisis in the stock market, oil etc. But then the prices go back to being determined by the internal workings of the crypto market. So any price volatility that is caused by outside factors is likely to be temporary.
Why Stellar will grow
Stellar's fundamentals remain very strong. For example, XLM is now supported by the 450 crypto ATMs belonging to the startup CoinFlip. Also in the news, Bank von der Heydt – one of the oldest banks in Germany – will now offer tokenized securities based on Stellar. This kind of developments are actually more important for the XLM price in the long term than a dip in the oil market or the coronavirus.
So, right now Stellar is a great buying opportunity. In a few months, the coronavirus crisis will probably boil over, and there will be some new agreement in the oil market. Plus, the Bitcoin halving is coming in May. This will push crypto prices back up, and we expect Stellar to grow at least 50%.
Store XLM in the best wallet
Before you start buying XLM, make sure you have a secure wallet for your lumens. We recommend XLMwallet– a fast, light, 100% private Stellar wallet. You don't need to register, just save your private key. We don't ask you to provide your email or any other personal information.
XLMwallet is great for storing and transferring lumens and any tokens created on the Stellar blockchain. You can even send crypto to an email address!
Don't miss the chance to invest in XLM while they are cheap. Store them in our safe XLMwallet and see your investment grow! Check out our official site and register your wallet here: https://xlmwallet.co
Web site —https://xlmwallet.co/
Medium —https://medium.com/@XLMwalletCo
Teletype —https://teletype.in/@XLMwalletCo
Twitter —https://twitter.com/XLMwalletCo