Conor Kenny, a well-known crypto analyst with more than 200,000 subscribers on X revealed that he has made a significant investment in Kaspa tokens, purchasing $80,000 worth—equating to 500,000 tokens.
He believes the crypto market is gearing up for a bullish trend and views this as an opportune moment, especially after observing a recent pullback in the price of Kaspa
The analyst discusses the current price of Kaspa, which was 16.5 cents at the time of the video, reflecting a 1.87% increase for the day. Over the past month, the token’s price movement has mostly been sideways, though it had previously surged to 21 cents before experiencing a 25% correction. He emphasizes that this pullback presents a potential entry point for investors who may have missed earlier opportunities.
Read Also: Cardano (ADA) Price Set for Massive Surge? AI Predicts $1 Target, Expert Highlights Key Trends
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Kaspa Price Prediction & Investment Strategy
The analyst’s trading strategy involves using a 3x margin on his Kaspa position. He is optimistic that Kaspa could return to its all-time high, which would provide a potential 26% gain.
He advises caution when using leverage, noting that while it can amplify returns, it also increases the risk of losses. If the market moves in his favor, he may further increase his leverage to maximize return.
Kenny draws parallels between Kaspa and other successful cryptocurrencies from the last bull run:
Avalanche (AVAX): Previously reached a $29 billion market cap, a 7.25x increase from its current level.
Solana (SOL): Achieved an $81 billion market cap, representing a 20x increase.
Cardano (ADA): Despite limited technological advancement, it reached high valuations.
Read Also: PEPE and FLOKI Prices Soar: Why Both Meme Coins Could Be Poised For Further Gains
He believes that if Kaspa follows a similar trajectory, a $1,000 investment could potentially grow to $22,000. While noting that Kaspa has already seen significant growth, he aims for a more realistic target of a 7x return rather than another 100x increase.
Kenny stresses the importance of risk management in trading. He plans to take profits gradually to avoid exposure to excessive risk, acknowledging that the price of Kaspa could fluctuate. His approach balances the potential for upward movement with caution.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
Join and Get 10k Tokens FREE!
Engaging community with games and crypto incentives
Integrated platform with GameFi and NFT functionalities
Simple interface that’s easy for new users to explore crypto gaming
