A lot of attention has been given to Onynxcoin lately, as the crypto experienced a massive increase of close to 400% in the last 7 days.
Crypto YouTube channel ImpossibleAnalysis reveals a major shift in his crypto portfolio. He believes the current bull run, which began when Bitcoin bottomed at $15,000 in 2023, still has three to four months left, with Bitcoin now trading around $103,000.
ImpossibleAnalysis made a surprising move by selling his entire holdings of XRP, XLM, HBAR, and other cryptocurrencies. His attention has been completely captured by Onyxcoin (XCN), a relatively unknown cryptocurrency that has shown extraordinary market behavior.
The analyst first learned about XCN through a direct message on Twitter. What caught his attention was the coin’s remarkable price movement—rising 240% in a single day. Having been on Coinbase for seven years, he noted this was an unusual occurrence for a non-meme cryptocurrency.
What you'll learn 👉
Technical Analysis and Market Potential
Using Fibonacci (FIB) chart analysis, ImpossibleAnalysis identified what he considers a bullish pattern. He believes XCN has significant potential, contrasting it with more established cryptocurrencies like XRP, which he expects might only reach $5-$8 during the bull run’s peak.
XCN Price Predictions
XCN’s current price hovers just above a penny, with its all-time high at 18 cents. The analyst sees massive upside potential, projecting price targets of:
- 3-4 cents in the near term
- 6-8 cents subsequently
- 8-10 cents as a longer-term goal
What excites ImpossibleAnalysis is the coin’s community strength. Many XRP holders are also investing in XCN, which he sees as a positive indicator. He was particularly impressed by XCN’s market resilience, noting it dropped only 48% after its initial pump and quickly recovered—unlike many low-cap cryptocurrencies.
Read Also: Bitcoin Indicators Turn Bearish: Will BTC Price Dip Trigger Altcoin Season This Time?
The analyst repeatedly emphasizes that this is not financial advice. He acknowledges the inherent risks in cryptocurrency investments, stating candidly that any crypto could “go to zero tomorrow.” His recommendation comes after personal research, and he encourages viewers to conduct their own due diligence.
ImpossibleAnalysis offers practical investment wisdom: always take profits when you’ve doubled your investment, removing your initial stake to create a “risk-free” position. He believes the current market presents an opportunity to play offense during the bull run’s final stages.
While speculation surrounds potential institutional involvement—with rumors about JP Morgan and BlackRock quickly debunked—the analyst remains extremely bullish on XCN. His conviction stems from the coin’s unusual market performance and strong community backing.
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