Popular cryptocurrency analyst and YouTuber Crypto Jon released his latest video, making an ambitious yet plausible case for Kaspa, a rapidly rising blockchain platform, reaching $1 by 2024.
What you'll learn 👉
Consolidating Near All-Time Highs
Crypto Jon points out that Kaspa (KAS) is strongly holding its value around the $0.13 level despite the recent crypto market turbulence. He observes the altcoin consolidating neatly near its all-time highs, with robust trading volumes indicating strong buyer interest at current levels.
In fact, Kaspa currently ranks among the top 50 cryptos by market capitalization at $3 billion – representing a 4,000% surge over the past year. Crypto Jon expects the technical backdrop to spur a “bigger rip” in the coming months versus a major correction that many traders anticipate.
$1 Aligns With Previous Cycles
While a explosion to $1 in under two years seems farfetched for most assets, Crypto Jon believes it fits logically within typical Bitcoin market cycles.
Historically, Bitcoin kicks off its frenzied bull run phase around Q3/Q4 about 6 months after its quadrennial halving event. With the next halving estimated around April, KAS hitting $1 aligns timing-wise with when altcoins tend to peak in past cycles.
Crypto Jon points to consistent development milestones from the Kaspa project to boost utility and real-world usage as key to helping realize this ambitious target. Furthermore, still awaiting tier-1 exchange listings offer additional catalysts to stimulate investor interest moving forward.
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Show more +Taking Profits At $1
From a portfolio strategy viewpoint, Crypto Jon plans to withdraw his initial capital invested should KAS hit $1. This allows him to eliminate downside risk and “play with house money” while leaving profits to continue running.
By cashing out the principal early on, traders can protect themselves from sudden reversals while aiming to capture the exponential upside in speculative rallies like Kaspa’s.
Overall, Crypto Jon makes a bull case for the rapidly rising blockchain platform by sometime in 2024 – representing a notable rise from current prices. For willing risk-takers, he sees the opportunity in outsized returns outweighing the likelihood of downside volatility in the coming years for KAS.
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