These fundamental flaws can create the black swan event that prevents the strong growth momentum of Tezos (XTZ).







XTZ has seen some unprecedented price increases throughout late 2019 and early 2020. The proof is that prices set a new all-time high in February before losing momentum and plunging along with Bitcoin. like most other major altcoins.


Although XTZ has shown some signs of technical strength over the past few days and weeks, analysts note it is only budding above an important level that if it falls below this level it is possible to put an end to it. Recent development process.


This happens when some investors question the blockchain's medium to long-term prospects, as one of the original blockchain's developers stated that there were some serious concerns about the platform.


Concerns mainly revolve around two key aspects of the XTZ ecosystem that could be the black swan that hinders the long-term development of cryptocurrencies.


XTZ has strong price action, but will be soon disabled


XTZ has seen a remarkable rally for the past few days, rising from a weekly low of 1.6 to a high of nearly $ 2.2 - a time when cryptocurrencies lost momentum and fell slightly.


In the short term, a continuing uptrend may be invalidated if the price moves below $ 2. The popular anonymous Trader Loma on Twitter highlighted this ability in a recent tweet, saying:




“XTZ: Cut my order in half and move the stop below $ 2. Maybe the price is lower than $ 2 again. ”


This is why the macro outlook of XTZ may not be as bright as it looks


While XTZ may be showing some subtle signs of weakness as prices are only slightly above the main level, it's important to note that the long-term outlook may not be as bright as some. Trader believes.


The underlying reason for raising doubts about XTZ's macro outlook is one of its initial remarks about “there are a lot of concerns regarding this platform” in a recent comment on Reddit.


Kathleen Breitman, who built XTZ with her husband Arthur Breitman, shared this shocking comment while explaining she was not sure if she would release her blockchain-based game card, adding to concerns about whether or not Have a well-equipped stablecoin or wallet.


“We ourselves have prototyped on XTZ but it is unlikely that Coase will launch on XTZ. I have a lot of concerns about the platform and obligations to investors to make sure we choose the right game. ”


xtz


Su Zhu, CEO and founder of Three Arbow Capital, recently cited the report of these comments in a recent tweet, echoing concerns about XTZ's lack of well-equipped stablecoins or wallets.




“Why doesn't XTZ have a well-equipped wallet or stablecoin? I understand that it has good principles. ”


Breitman lacks confidence in the platform because the two issues mentioned above can cause some significant losses, losing investor confidence in the project, restraining its long-term growth.


However, it is likely that its powerful "principles" will be useful enough to catalyze long-term momentum.


You can see the price of XTZ here.


Disclaimer: This is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.


Thuy Trang


According to Cryptoslate








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