New cryptocurrency Kaspa (KAS) has seen a recent downturn in price, leaving some investors concerned. In a popular YouTube video titled “WHY IS KASPA CRASHING!? THIS IS EXACTLY WHY…”, content creator “On The Go Crypto” aims to explain the reasons behind the crash and reassure worried Kaspa holders.
What you'll learn 👉
Reasons for the Crash
The speaker outlines several key factors contributing to Kaspa’s falling price:
Miners Selling Rewards
The availability of new Kaspa miners (Kaspa kso Pro) has led to an influx of Kaspa mining. These miners sell some of their mined KAS rewards to cover the cost of equipment. This sell pressure is putting downward pressure on Kaspa’s price. However, the speaker emphasizes this is a normal and temporary situation.
Meme Coin Influence
A new meme coin project related to Kaspa has emerged, likely drawing investment away from KAS. While amusing, the speaker notes meme coins are extremely risky and he recommends investing directly in Kaspa over these spin-off projects.
Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
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Show more +Analysis of Price Action
Despite the recent dip, the speaker analyzes Kaspa’s trading volume and price movement and finds current indicators remain strong. Consolidation between 10-12 cents is not alarming given the context of the rapid price gains earlier in the year.
Long-Term Outlook
The speaker stresses that long-term fundamentals remain positive for KAS. With the upcoming halving event in less than three months, he cites numerous reasons to be bullish on Kaspa’s future.
The speaker understands newer investors may be worried about the recent volatility but urges calm and patience. He states, “Don’t let people fud you out of your bags, guys.” He encourages holders to avoid panic selling and focus on the long-term uptrend still intact.
While meme coins and short-term traders may be impacting price, true cryptocurrency believers have reason to remain confident in Kaspa. The speaker cites real-world usage growth, technological innovations, and his own analysis to argue Kaspa’s outlook remains strong. He tells viewers: “Until next time, stay calm and make that Kaspa money.
You may also be interested in:
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- VCs Bet Over $360 Million on Top Projects in Q4 as Crypto Investments Show Signs of Recovery
- Here Are Potentially The Two Biggest Gainers of 2024 – Meme Kombat (MK) and Bitcoin Minetrix (BTCMTX)
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eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
