Tezos Shoots Up To New Bullish High, Outperforming BTC

The eleventh ranked coin on CoinMarketCap, Tezos shoots up to a new rank and has achieved a new high in the bull market that began some time ago and surged more than Bitcoin (BTC) over the previous month, Weiss Rating states as per the Tezos price news.

The well-known and one of the biggest financial agencies Weiss Ratings, which is the only one that has a branch dedicated to the cryptocurrency sector, has posted a tweet on Twitter to support Tezos (XTZ), the digital asset that entered the top ten list on CoinMarketCap at the end of the previous year.

Weis Crypto Ratings reminds the cryptocurrency community that Tezos (XTZ) has been in the bull market for some time and that the cryptocurrency achieved a new high. The cryptocurrency outperformed all the other cryptocurrencies, including the king of the cryptocurrencies Bitcoin (BTC), and surged more than 50 percent throughout the past month.

As reported by DC Forecasts in a previous occasion, in the second half of December of 2019, the Kraken cryptocurrency exchange added a staking option for Tezos and many thought that this was the main spark for its 14 percent growth in December of 2019. Before that, Coinbase had also added Tezos (XTZ) based staking. In general, the cryptocurrency community has been bullish on Tezos, by making more bets on its growth in the next period. In another tweet, Weis Ratings elaborate on the new achievements of Tezos (XTZ), naming the following factors:

 “Reason for #Tezos’ success can be summed up in 4 key success factors: Flexible governance, bug-free code, 5% crypto “dividends” paid to #XTZ token holders, and decentralization.”

It looks like Tezos is enjoying the latest mini-rally of Bitcoin. The ascending Broadening wedge seen on the daily chart can be reason plus for the current surge in the price of Tezos. The XTZ price is headed for the upper limit of the wedge, which can open the door for even more bullish action in the next few days. The further target of XTZ now is sitting at $2.5 as long as the bulls keep showing the needed commitment. Tezos shoots up to further gains as the latest charts can show us, so it is important to keep track of it in the next few days.