The upcoming reward reduction for the Kaspa cryptocurrency could mark the end of the current bearish cycle and pave the way for a new uptrend, according to analyst MikoGenno. In a recent post, the trader pointed to the “8-month cycle theory” as a basis for their bullish projection.
For those unfamiliar, the reward reduction, also known as “halving” or “halvening”, is a pre-programmed event that cuts the amount of new Kaspa coins miners receive for validating transactions. This systematic reduction in supply is designed to control inflation and increase scarcity over time.
MikoGenno believes that reward reductions following downturns have historically signaled the start of a new upward cycle in Kaspa’s price. “A Kaspa reward reduction after a downwards move generally marks the end of the down cycle, and the beginning of the next leg up,” they stated.
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Show more +The “8-month cycle theory” suggests that Kaspa’s price tends to move in approximately 8-month cycles, with each cycle culminating in a major peak before the next downturn begins. Based on this theory, the analyst argues that the upcoming reduction initiates “the first leg up of the next major cycle.”
If MikoGenno’s analysis proves accurate, the new uptrend could drive Kaspa’s price as high as $0.30 to $0.50 by late June or early July of this year, representing a significant increase from its current trading levels around $0.10.
The Kaspa reward reduction is scheduled for mid-April, so the coming weeks and months will test the validity of MikoGenno’s bullish outlook. Crypto enthusiasts and traders will undoubtedly be monitoring Kaspa’s price action closely as this pivotal event unfolds.
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