The cryptocurrency known as Tezos is among the years best performing altcoin assets, rising more than 200% year-to-date.<\/p>\n
And while the surging crypto asset is showing no signs of stopping, it could go on to double from here, according to a prominent crypto analyst and short-term parabola.<\/p>\n
Tezos is a clear cryptocurrency industry standout.<\/p>\n
The altcoin recently exploded into the top ten crypto assets by market cap, after an early 2020 rally smashed all expectations and then some.<\/p>\n
Related Reading | Top Trader: Tezos Cryptocurrency Can Surge 5-10x After 100% Rally in 2 Weeks<\/p>\n
Since the start of the year, Tezos is up an insane 200%.<\/p>\n<\/p>\n
From the assets late 2019 downtrend bottom, Tezos has quadrupled in value, with a sky-high, over 420% return.<\/p>\n
And from the assets bear market bottom, it has grown in value by a staggering 1,125% in a little over a years time.<\/p>\n
Analysts have been warning late-to-the-game investors from FOMOing into an asset that has already risen so much, but Tezos has continued to rally, leaving cautious traders filled with regret.<\/p>\n
That regret will only grow if Tezos does as one analyst believes and extends its parabola to as much as $6.30 per XTZ token.<\/p>\n
The current high is set at $3.70, so reaching such a target would mean that Tezos price doubles from current levels.<\/p>\n
Such a rally would cause yet another 100% push from here, taking year-to-date gains to over 400%.<\/p>\n
It would also take any investments made from the very bottom to as high as just under 2,000% returns in less than 16-months.<\/p>\n
Tezos has completed these amazing feats, all before the bull market has truly begun for cryptocurrencies.<\/p>\n
And because Tezos is a relative newcomer alongside other altcoins like Link, who missed out on the last crypto bubble, these shiny new altcoins have less tarnish and negativity to break free from.<\/p>\n
The assets also dont have support levels turned resistance to contend with, and instead are in price discovery mode.<\/p>\n
Related Reading | Tezos & Ethereum: These Top Performing Altcoins Flash Dangerous Sell Signals<\/p>\n
This means that any peaks are just psychological barriers while a true value is established by the way of the push and pull of market dynamics.<\/p>\n
This is the exact reason why Tezos could easily double from here, and reach prices of $6.3 in the coming days because no one knows truly what Tezos should be worth, so the speculative asset is likely to explode further until a strong psychological resistance is reached.<\/p>\n
When assets perform like Tezos, sky is the limit. But remember, just like Bitcoin at the last bull market peak: everything that goes up that fast, eventually falls back down quite hard.<\/p>\n
And with how much Tezos has rallied, while it can certainly go a lot higher, when it does turn around, much of the gains could be erased.<\/p>\n
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\nTezos to the Moon: How The Unstoppable Cryptocurrency Rally Could Double - newsBTC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"