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Market Indecisiveness Triggering Drops, Stellar XLM Down By 3%

09 january 2019, 20:55 by John Kiguru

Market Indecisiveness Triggering Drops, Stellar XLM Down By 3%

The last couple of days have seen the wider market stagnate in price movement. Much of the stalemate has been due to the lack of decisive movement from the crypto leader- bitcoin. Soon, this lack of momentum could see the bears coming back and dragging prices down. For Stellar, the bears have already begun dragging prices down, seeing Stellar drop by a little over 3% in the last 24 hours.

Stellar begun the year strong with a rally that saw prices climb from $0.093 in mid-December to over $0.12, hitting a high of $0.13 within the period. At the time of press, Stellar is trading for $0.122, a drop from $0.128 from yesterday.

Stellar has been one of the many coins that have seen prices largely unchanged for the last couple of days. The lack of movement has always made investors wary of the market, predicting that prices will retrace back from their most recent highs.

Despite the drop experienced, there is a positive forecast of the coin following the coin’s strong start of the year. In addition to its strong start, the coin has received a major boost after BlockCard announced they would support it. BlockCard is a cryptocurrency debit card that makes it easier for users to buy cryptocurrencies. Currently, the coin only supports Bitcoin BTC, Stellar XLM, Ethereum ETH, and Ternio TERN.

The next couple of hours should see prices find stability. The bulls will look to capitalize on the recent positive news and try to hit its month high of $0.13 and possibly soar even higher. Given Stellar’s history and underpinning technology, there’s every reason to be optimistic of a good performance in the long-term. However, this sentiment will only come true if the wider market begins to move again, attracting investors and creating demand for cryptocurrencies.

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