2019 wrapped up with some significant events and interesting numbers for Tezos. We’ll explore what happened and what our bulls and bears outlook will be for 2020.
Tezos Upgrades without Hardfork
In 2019 Tezos (XTZ) became the first blockchain to upgrade without the requirement of a hardfork. The company, through its self-governance mechanism, was able to upgrade without actually needing to hardfork.
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Tezos Partnerships
In 2019, Tezos entered into a partnership with companies to create real-world use cases on the blockchain. Some of the partners include:
BTG Pactual
Leading LATAM investment bank BTG Pactual, also partnered with Tezos in 2019 as they launched Security Token Offerings (STOs) on the Tezos platform.
Elevated Returns
In 2019, Tezos partnered with Elevated Returns; a financial group focused on digitizing traditional financial assets. The partnership saw the tokenization of a pipeline of real assets above 1B USD on the Tezos platform.
Globacap
Globacap, a London-based primary issuance platform for digital securities, also entered into a struck a partnership with Tezos in 2019. The FCA regulates the foundation.
Fundament Group
German Fundament Group also struck a partnership[ with Tezos in 2019. The partnership will see them launch the first STO in Germany, which is regulated by the financial market authority BaFin.
Going forward, the Berlin-based group, which provides end-to-end infrastructure for digital securities, will build on the Tezos blockchain as their default blockchain.
Securitize
In 2019, Tezos also struck a partnership deal with the digital security platform Securitize. The partnership will see the group deliver secure global solutions for creating compliant digital securities, including equity, funds, fixed income, and real estate.
Tezos Notables
C3N
C3N is the cybercrime division of the French National Gendarmerie.
Why is this notable? Because 2019 was a historic year for the blockchain industry as it became the first year that a government entity developed and deployed a smart operational contract on a blockchain. In September this year, the C3N began saving records of judicial expenses on the Tezos platform.
New Regional Communities
In line with its vision to keep expanding, the foundation had in 2019, new regional community organizations in Africa, India, China, South-America, and Ukraine.
Developers
The foundation trained over 1,300 Tezos developers in 2019.
Tezos Analysis
XTZUSD: Monthly Time Frame
Using the XTZUSD price pair, we examine Tezos (XTZ) cryptocurrency and conclude that it is one of the top-performing cryptocurrencies in 2019.
After a price slump of about 83.97% from the October 2018 high, XTZUSD eased into a bearish accumulation pattern that later failed to a surge in buying power on March 1, 2019.
The bullish pressure continued for another 84.31% from the breakout point before forming a double top candlestick pattern on May 1, 2019.
A higher low was set after a breakout of bearish accumulation on November 1, 2019 between $0.750 to $0.9930, similar to that of March 2019. There was another test on October 1, 2018 with a high of $1.950.
XTZUSD: Weekly Time Frame
Taking a step lower on the time scale to the weekly chart, we see a breakout of bearish accumulation resistance at $0.4451 on December 1, 2018, leading to a price hike of about 268.47% from the break above resistance.
Still, within Q2 2019, the bulls signaled a break above bearish accumulation resistance 1.2988 and flagged a volatility oversold setup.
Conditions to enter in the short sell direction was signaled with the combination of bearish inside-bar and bearish accumulation pattern on May 20 and May 27, 2019, for a price plunge of about 49.61%.
Another breakout of bearish accumulation at $0.9360 was signaled on November 4, 2019, for a price increase by 51.73% to $1.2230 in Q4 2019.
XTZUSD: Daily Time Frame
Looking at the XTZUSD price pair within the daily time frame, we see a dead cross of the MACD oscillator on December 17, 2019, which set a bearish undertone for the XTZUSD as we come to the end of Q4 2019.
On May 16, 2019, resistance at $1.940 appears to be a tough one to crack.
The Bears and Bulls Scenario
Bullish Scenario
The XTZ price will have to close above the $1.940 resistance for us to see a price hike to the upside any time soon.
Bearish Scenario
XTZUSD appears to be getting ready for a triple top chart pattern. If the price fails to close above the stated $1.940 resistance, we should expect a bearish price plunge.
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