Hedera Hashgraph (HBAR) Has Formed an Ascending Triangle: Is a 200% Breakout Next?
Hedera Hashgraph could be on its way to a 300% price breakout if its chart sticks to the predicted trend. The recent formation of an ascending triangle is keeping traders hopeful of a successful year for the cryptocurrency. However, there are still some lingering questions on the possibility of the price breakout, considering the recent and expected performance of Bitcoin.
— CryptoShelby (@CryptoNewton) March 10, 2020
Analysts are predicting that Bitcoin will at least reach $14,000 this year as a result of the halving. This will certainly put the chart into question, especially if Bitcoin performs better than expected.
Nevertheless, there is still hope for Hedera Hashgraph (HBAR) as it could still perform better against Bitcoin even if the cryptocurrency increased in value against the dollar.
Institutional Blockchain Adoption
The latest development in enterprise adoption of blockchain technology may be the value saviour of HBAR.
More companies globally are considering the adoption of blockchain technology as a means of streamlining their services. This has resulted in increasing values of decentralized platforms offering enterprise-ready services.
Platforms like Hedera Hashgraph can quickly become a favourite of various enterprises. It offers crucial timestamping services that are scalable and publicly verifiable. This would make it possible for enterprises to conduct real-time audits of their transactions.
Further, the platform also enables low fee payments which are competitively priced compared to other options available in the market. Other services such as tokenization and exchange of assets are possible through the platform.
The blockchain company has also made some positive achievements this year, such as being listed in a new exchange and its partnership with Google. These achievements are indicators of a well-planned year for the platform which may lead to a better HBAR value.
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Sal Miah is the senior editor at Blockspectator News and is a regular contributor to a variety of cryptocurrency news websites and projects. He has written hundreds of articles on numerous topics related to blockchain and also has a special interest in financial markets. Contact him directly at email@example.com