Kaspa was not immune to the biggest crypto crash in history and now, a few days later, the KAS price is still struggling. It recovered to over $0.11 post-crash, but has now quickly retracted to the $0.09 range.
YouTuber ‘Freeman,’ who has around 10,000 subscribers, just posted a video in which he explained he bought $10,000 worth of Kaspa during the dip.
Taking advantage of the recent market downturn, Freeman acquired 100,000 KAS tokens for approximately $10,000 during a severe liquidation event. The purchase came at a time when many traders were caught off guard, as the Kaspa price broke below the psychological $0.10 barrier, dropping to $0.07 and touching as low as $0.04 on some exchanges during what Freeman described as a “Black Swan” event.
Ambitious Kaspa Price Forecas
Freeman maintains a strongly optimistic outlook for Kaspa’s future, drawing parallels to Cardano’s performance in the previous cycle. His price prediction is particularly notable – he expects the KAS price to reach $1 or higher in the short term, representing a potential 10x increase from current levels.
This bold forecast is based on several upcoming catalysts that could drive the KAS price higher, including potential listings on major exchanges like Coinbase and Binance, the implementation of smart contracts, and growing adoption in the crypto space.
The technical analysis presented in the video suggests a mini head-and-shoulders pattern formation, with a possible retest of the $0.08 level. Freeman notes that if Bitcoin experiences a 15-20% correction, Kaspa could see deeper price drops, potentially reaching the $0.05 range. However, he emphasizes that the RSI (Relative Strength Index) historically shows strong recoveries following oversold conditions.
The broader crypto market context plays a significant role in Freeman’s analysis. He references the market’s historical pattern of multiplying its total capitalization each cycle, from an $800 billion peak in 2018 to $2.8 trillion in 2021. This trend, combined with developments like El Salvador’s Bitcoin reserves and discussions about potential U.S. cryptocurrency strategic reserves, contributes to his bullish long-term outlook.
Read also: Analyst Warns Against Accumulating More Kaspa (KAS) Tokens Amid Price Dip—Here’s Why
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