Lisk (LSK) Climbs Steadily Ahead of February Relaunch Despite Bitcoin Uncertainty
LSK price has recovered quickly since BTC found the bottom at $6,000 and is growing steadily ahead of relaunch this month.
While the recent Bitcoin drop left the alt market reeling, Lisk has posted significant gains since prices starting recovering, and is climbing steadily ahead of its relaunch this month.
At the bottom, when Bitcoin was trading at $6,000, LSK was around $12, and currently, Bitcoin is at $8690, a gain of almost 45%, and LSK is at $27.20 – a rise of almost 123%.
TA wise, the LSK/USD chart (converted from LSK/BTC on Bittrex) had a 20/50 EMA golden cross at around $15.20, and the price has steadily grown, with a bullish divergence confirming the trend.
In contrast, NEO, which was trading around $64.80 near the bottom, is currently just over $114, an increase of over 74%. The surge in LSK price can be attributed to the much anticipated relaunch, which is scheduled for February 20, 2018, just ten days from now. That being said, as always, the market also depends heavily on BTC prices, which are not quite out of the woods just yet.
Typically, as such events draw near, token prices rise, but a sell-off also ensues often, either right before the event, or during it. A similar trend was noticed back in November, when Lisk’s Berlin meet-up failed to meet expectations, leading to a 20% drop in prices.
At the end of January, before the recent bear market took hold, Lisk did manage to reach $35, when it got listed on popular Japanese exchange, bitFlyer. Even at current prices, Lisk has come a long way if you look back and consider that it only broke through the $2 market in August last year.
With the relaunch is expected to introduce a completely new brand identity, along with a new platform featuring the Lisk app, which will be replacing the Lisk Explorer and the Lisk Nano wallet.
The Lisk team has also been posting regular updates, and in their own words, they have been working hard, day and night to deliver the best possible experience – I guess we will find out in ten days.