No way – it’s impossible in my opinion. At the moment, Stellar’s Lumen is at $0.026. To reach $0.50 before December this year, it means it should gain 1823%, which is astronomical I think.
If you asked if Lumen could reach $0.050, I would say it almost did it…but it could not reach this level. Lumen missed that mark by inches.
Check this – the only chance was on October 16:
As you can see, its peak since May or June 2016 was on October 16,2017, when it was at $0.047. However, after touching that mark, it fell to today’s $0.026, and it cannot increase to 50 cents for sure.
You can note that on October 16 Lumen rose over 164%. It’s a multi-month record – what was happening? Of course, some fundamental data was driving it.
Actually, there was some strong fundamental support – IBM and Stellar announced a joint blockchain-based project to support cross-border payments in the South Pacific region.
Under the project’s terms, the payments between network banks will use Lumen as intermediate currency.
Today, cross-border payments are conducted by holding foreign accounts in domestic currency (known as Nostro accounts), after which a process of account debiting is executed based on the needs. At times the whole operation may take several days.
Under the conditions of this new blockchain-based project, banks will make payments using Lumens, and then convert these to fiat money based on the current quotations from market makers.
So, there was a strong fundamental, Lumen had an incredible rally, but it didn’t help anyway. Today, even IBM project cannot drive its price up, so there is no way for it to increase to 50 cents, unless some big corporations start another project and announce Lumen as an intermediate currency.
Lumen drops because investors probably assessed the situation and understood that the project won’t change many things about Lumen demand. On October 16, there was a good occasion to enter the market for intra-day gains.