Bitcoin Dictates Kaspa Price Action: Here’s How BTC Could Fuel 70% Surge in KAS

Kaspa has seen its token price decline over 5% lately, falling from around 17 cents to about 16 cents. According to a YouTube video analysis by Crypto T, this retracement is largely attributed to Bitcoin’s influence over the broader altcoin market. However, Kaspa retains strong fundamentals and accumulation trends that point to a positive long-term outlook.

Current Price Levels and Technical Analysis

After reaching an all-time high price of about 14.5 cents recently, Kaspa has pulled back but remains ranked 28th by market capitalization, which stands near $3.7 billion. Crypto T points out a “falling wedge pattern” that Kaspa broke out above but failed to hold. This indicates the possibility of a retest of either the upper boundary of this technical pattern or the former highs.

Bitcoin Dictates Market Sentiment

Significantly, Crypto T stresses that “this Kaspa retracement is just because of the Bitcoin retracement.” With Bitcoin experiencing its own pullback, the sentiment has spilled over to impact altcoins across the board. If Bitcoin can stabilize or regain some ground, Kaspa may also benefit.

Long-Term Outlook Still Bullish

Besides the short-term wavering tied to Bitcoin’s fluctuations, Crypto T retains a bullish long-term view on Kaspa. He cites a “70% probability” of Kaspa retesting its all-time high in the future if Bitcoin trends positively. 

Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK?🤫

The key? Getting in early, especially during the ICO phase. Check out NuggetRush today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. Seize the opportunity with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.

Show more +

Moreover, Kaspa boasts strong fundamentals and increasing accumulation by investors. Hence, the recent drop does not fundamentally undermine Kaspa’s impressive growth story.

Crypto T encourages viewers to focus on the bigger picture during periods of volatility. While the crypto markets may waver in the short term, Kaspa’s robust technicals, fundamentals, and adoption metrics point to a promising long-term

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.

CaptainAltcoin
Logo