Crypto Chrys made a video to talk about how much Kaspa (KAS) might cost by the end of the year. At the time of the video which he tagged “How Much Will 10,000 Kaspa Be Worth In 2024! (By Year’s End)”, one Kaspa was worth $0.16 with a market value of $4 billion, ranking 23rd in crypto market cap.
Kaspa blockchain is going through various developments including the rust migration, which is expected to reach 100% by the end of July. Kaspa’s mining adoption is growing, with a hash rate recently reaching 406 PH/s, indicating robust network security and growth.
It also has some upcoming features like the implementation of KC Trendy on the mainnet and achieving one block per second efficiency, which are expected to drive significant network volume and adoption.
Kaspa has experienced less volatility compared to other altcoins during the recent market downturn. The coin is anticipated to be listed on several tier-one exchanges by the end of the year.
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Kaspa Price Prediction and Strategy
Based on Crypto Chrys analysis, Kaspa is projected to reach $1 by the end of 2024 and this is expected to be driven by various fundamentals like technological developments and broader market trend
At the time of the video, Kaspa was trading at $0.16, and 10,000 KAS tokens were worth $1,600. At $1 per KAS, 10,000 KAS will be worth $10,000.
The analyst also discouraged buying Kaspa waiting to buy Kaspa as such could mean missing out on a major price rise.
The analyst suggests using the Dollar Cost Averaging Strategy, which involves investing a specified amount of money into the crypto over time regardless of the price. This helps mitigate the risk of only investing in one position.
How Bitcoin and Broader Markets Can Affect the Price of Bitcoin
The analyst mentioned Bitcoin’s drop from $60,000 to around $53,000 and how it recovered to around $57,000. The dip was caused largely by the massive BTC selling pressure from the German government.
Despite short-term setbacks, the speaker remains optimistic about a “green summer” and potential market reversal, especially with the impending Ethereum ETF news.
Large institutions like BlackRock and Fidelity have shown varying levels of Bitcoin activity, influencing overall market sentiment. The German government’s decision to sell Bitcoin is seen as a significant factor in recent price declines, which have stopped for now.
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