Why Is Kaspa Pumping While The Crypto Market Is Down? Analysts Reveal When KAS Will Reach New ATH
The crypto market has been down these few days with most cryptocurrencies stuck in a downturn, one altcoin, Kaspa, is bucking the trend and catching the attention of analysts. Kaspa (KAS) has been pumping despite the broader market’s struggles. Analysts point to Kaspa’s unique 8-month cycle as the driving force behind its recent gains.
According to the crypto analyst “Plan𐤊” (@MikoGenno), Kaspa doesn’t follow the wider market trends; instead, it adheres to its own adoption curve and 8-month cyclical patterns. In a series of tweets, Plan𐤊 explained, “Kaspa trades in 8-month cycles with a smaller 4-month cycle. The first 4-month cycle is a smaller peak, then going for another 4-month cycle into a bigger peak.”
Plan𐤊 further elaborated that Kaspa’s rapid emission schedule leads to a quicker supply contraction, resulting in these distinct 8-month cycles that primarily drive its price action. Unlike Bitcoin’s 4-year halving cycle, Kaspa’s cycles are more frequent and influential.
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Analysts Predict Imminent Breakout
While Kaspa’s price movements may seem disconnected from the broader market, analysts are confident that this altcoin is gearing up for a significant breakout. Tommy Does Crypto (@TommyDoesCrypto), another analyst, highlighted that Kaspa’s last breakout occurred precisely 78 days after its previous all-time high. Remarkably, at the time of his analysis, Kaspa was exactly 77 days from its more recent all-time high, suggesting a potential imminent breakout.
Tommy Does Crypto’s fractal analysis proved accurate as Kaspa surged 13% within 10 hours of his prediction, with a “god candle” on the hourly chart. He now expects Kaspa to reclaim its all-time high of $0.18 within the next 14 days.
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Show more +Gem Queen (@_GemQueen), another Kaspa analyst, shares a similar bullish outlook, stating that the $KAS chart looks “ready for another big breakout.” She aims for an initial target of $0.20 but believes this won’t be the last milestone for Kaspa, as the project aims to break into the top 10 cryptocurrencies by market capitalization during this bull cycle.
As Kaspa continues to defy the market downturn, analysts remain confident in its potential, attributing its success to its unique emission schedule and cyclical patterns. With predictions of a new all-time high on the horizon, the crypto community will be closely watching Kaspa’s performance in the coming weeks.
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