In the fast-moving crypto world, users are always looking to get ahead of the market with price predictions. With the recent Stellar (XLM) bullish prediction, the community looks forward to a boost in price.
Stellar Lumens (XLM) aims to make cross-border payments faster and cheaper and has a strong track record in the market and a massive community behind it. We recently asked Bard, Google’s conversational AI chatbot, what it thinks the price of XLM will be on October 1.
Read Also: What Google Bard Said About Future Price of Stellar (XLM) After Ripple and XRP Victory
Google Bard’s Prediction for XLM
Bard gave an intriguing prediction for XLM’s future price. However, it took things a step further and gave reasons why this prediction could come true. XLM is trading at $0.1173, down 0.63% in 24 hours and 2.98% in the last week.
Bard states, “Our price prediction for XLM on October 1 is $0.125. This represents a 6.56% increase from the current price of $0.1173.”
XLM has not performed well over the past month. It has dropped 6.05%, but this prediction says it will recover its loss. This prediction is expected to bring relief to the Stellar community.
Reasons for this Prediction
Bard lists a strong technical analysis, positive news and developments, and overall bullish market sentiment as its reasons.
Strong Technical Analysis: Google Bard states that XLM has been in a bullish trend. Although the last few weeks don’t show that, the digital asset outperformed major cryptocurrencies in July, and it has the potential to replicate the trend.
Bard also states that XLM has broken out of a key resistance level, suggesting it could move higher in the short term.
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Read Also: Here’s What ChatGPT Said About Possible Stellar (XLM) Price Trend By End of 2023
Positive News and Developments: Bard highlights that Stellar (XLM) has been in the news lately and mentions its investment in MoneyGram in August. Good news can cause a price surge, and Bard expects major developments to push XLM’s price.
Overall Bullish Market Sentiment: The crypto market is full of bullish predictions for different cryptocurrencies. Bard expects a similar outcome for XLM based on the general bullish sentiment in the market.
Risks to Consider
The crypto market is known for its volatility, and Bard lists some risks to consider before investing in XLM. These are the volatility of the market and the possibility of negative news or developments.
However, it closes by saying, “Overall, we believe that XLM is well-positioned for growth in the short term. Our price prediction for October 1 is $0.125, but it is important to note that this is just a prediction, and the actual price could be higher or lower.”
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