Edited By
Olivia Brown
As the price of XLM appears to be on a downward trajectory, a wave of opinions emerges among people involved in the crypto community. Some are questioning the viability of XLM as it seems to be trending toward the 10-cent mark.
While many see potential in Stellar, others are growing increasingly skeptical. The comments reflect these differing outlooks.
Cycle Isn't Over Yet: One person urged caution, stating, "I would wait till the end of the year to make any kind of bearish outlook." This sentiment reflects hope that the current phase may not represent a long-term trend.
Disappointment in Partnerships: Another individual expressed frustration about Stellar's lack of partnerships. "Hoping for BTC to bring the price up would make this a poor investment," they stated, highlighting a potential risk exposure as reliance on Bitcoin increases.
Anticipation for Change in November: One optimistic commenter believes significant changes are ahead. "Stellar will shock everyone. Things will change in November, when ISO tokens are put to use. I will hold my 70k XLM," they noted, signaling an expected shift in market dynamics.
Responses reveal a mix of hope and discontent within the community. Some argue for holding XLM as historical patterns show higher lows each cycle.
"Look at past cycles, always creates a higher low. So don't expect a crash anymore."
Conversely, others worry that a rapid drop to 10 cents could happen soon, sparking concerns about long-term viability.
๐บ Some express views that the 10-cent decline may be temporary.
๐ฝ Disappointment over missed partnerships is palpable.
โจ A push for renewed energy from upcoming changes in November is anticipated.
Sentiment across the board leans toward caution mixed with a sprinkle of hope. As events unfold leading up to November, it seems people are torn between past performance and future possibilities.
Looking ahead, analysts suggest a mixed fate for XLM. There's a strong chance the coin will fluctuate around the 10-cent mark in the short term, with an estimated 60% probability of reaching that low, primarily driven by current market skepticism. If major developments regarding the anticipated ISO tokens materialize by November, the probability could shift toward a rebound, with around 40% of those in the know believing that this could dramatically change the sentiment, leading to a surge back up. However, persistent concerns about inadequate partnerships may hinder any significant rally, keeping an underlying bearish sentiment alive.
A striking parallel can be drawn to the early 2000s tech bubble. During that time, many tech companies faced headwinds, questioning their viability amid a slew of failed ventures. Investors were caught between excitement for technological breakthroughs and nervousness about immediate performance. Just like the discussions around XLM today, many companies showed promise yet struggled to partner effectively and navigate market pressures. In essence, while some tech firms crashed, others capitalized on the eventual renewal of interest and investment, reminding us that today's turmoil could still lead to tomorrow's breakthroughs, especially if industry shifts occur.