Analyst Predicts Further Decline for Kaspa (KAS) as Multiple Analyses Suggest Double-Digit Price Drop

Concerns have emerged regarding the future of Kaspa (KAS), especially after the asset dropped below a critical support level near $0.14. This decline has caught the attention of several voices within the crypto space.

Mikro, a well-known analyst, voiced his worries about Kaspa’s recent market performance. He pointed out that despite the asset’s previous strength, the charts now suggest a potential downturn.

KAS/USDT Daily Chart Analysis

In his review of the KAS/USDT daily chart, Mikro highlighted that the asset had lost its support and resistance (S/R) region along with the point of control (POC).

Analyst Predicts Further Decline for Kaspa (KAS) as Multiple Analyses Suggest Double-Digit Price Drop

Mikro also noted the formation of a bearish inverse Cup & Handle pattern, which suggests a short-term price decline could be imminent.

He estimated that this could lead to a drop of around 23%, bringing the price down from $1.30 to $1.00, where he anticipates the next strong support level.

Read Also: Altcoin Rally Imminent? Bitcoin Dominance Nears Top as Analyst Warns: ‘Don’t Blink’

KAS/BTC Weekly Chart Analysis

Source: captainaltcoin.com

Kaspa.org: First Kaspa Sydney Meetup!

On a recent evening, Kaspians from Sydney gathered for their inaugural Sydney $kas @KaspaCurrency Meetup. The event was a success, bringing together both newcomers and seasoned members of the community. Attendees shared their tales of discovering Kaspa and recent experiences, such as involvement with @Kaspa_KEF and engaging with fans at various events. Discussions were buzzing with passion and excitement, highlighting the unique organic growth of Kaspa in contrast to typical hype-driven cycles in the crypto space. This grassroots approach to community building, with around 11 participants, proved to be a meaningful way to foster genuine connections. If you missed the meetup but are eager to join future Australian Kaspa Events, consider joining the AusKaspa Telegram group for updates. The article originally appeared on Kaspa.org and can be found here.
Kaspa.org: First Kaspa Sydney Meetup!

Kaspa.org: First Kaspa Sydney Meetup!

Thank you to all the Kaspians who joined us last night for our first-ever Sydney $kas @KaspaCurrency Meetup!

It was incredible to see new faces and even some OGs from the community come together—some were curious to learn about Kaspa, and others were reconnecting with like-minded members they’d known for a while.

We spent much of the night sharing stories about how we all discovered Kaspa and recent experiences, such as at Token2049. We also talked about the overwhelming support from @Kaspa_KEF and what it was like engaging with fans at all their recent events. Additionally, we discussed the exciting new initiatives mentioned at the Dublin
@KaspaKii event. The discussions were passionate and enthusiastic, emphasising Kaspa’s potential and organic growth. This sets it apart from the usual hype-driven cycles that dominate the crypto space.

Simply put, think about what is considered ‘normal’ marketing in Cryptoland and do the opposite. You have Kaspa!

Although our group consisted of around 11 people, building communities in this natural, grassroots way is the most meaningful approach to fostering real engagement. Yes, we could have put on a flashy event—and I’ll likely do so in the future—but there’s something uniquely powerful about sitting down with a few new friends over a drink and sharing ideas.

My biggest takeaway is that if you’re unsure about attending one of our Kaspa meetups or even a crypto event in general, I encourage you to give it a go. As people immersed in the digital world, it’s easy to forget that most of our connections happen online. Stepping offline, even for a few hours, can be incredibly rewarding and add depth to those connections we often only experience through a screen.

If you’re sad you missed out on this meetup and are keen to attend future Australian Kaspa Events, join us on our AusKaspa Telegram to keep track of what’s going on with Kaspa in Australia!

🔗: https://t.me/kaspa_aus

Remember, Kaspa will attend @AusCryptoConon on Saturday, November 23rd, and Sunday, November 24th! So, if you’re interested in meeting more of the community, come down!

🔗: https://auscryptocon.com
(Use discount code KASPA to save on your tickets!)

We’re also excited to announce a very special KaspaFam Meetup to coincide with the Australian Crypto Convention! This meetup will also celebrate Kaspa’s third Birthday so you won’t want to miss it!

Event details are still being finalised, but if you’d like to stay current, I suggest registering on the Luma page below.

🔗: https://lu.ma/efcd6g60

The post First Kaspa Sydney Meetup! appeared first on Kaspa.

The Kaspa Sydney Meetup was a successful and enriching event, where Kaspians came together to share stories, connect with like-minded individuals, and discuss the growth and potential of Kaspa. The genuine and grassroots approach to building communities was emphasized as a meaningful way to foster engagement. For those interested in staying updated on Kaspa news and events, it is recommended to visit KaspaNews.net for the latest information.

Shai (Deshe) Wyborski On X: Rationality vs. Honesty is an important point to understand for cryptocurrencies in general. Not just $kas or PoW.Unfortunately, this is also one of the least talked-about points. Mainly because it requires navigating game theory, and understanding the formal meaning of terms… https://t.co/uqlekbr9xE- October 17, 2024


**Understanding Rationality vs. Honesty in Cryptocurrencies: Insights from Shai Deshe Wyborski**

In a recent tweet, Shai Deshe Wyborski, a PhD candidate in quantum cryptography and one of the core developers of Kaspa, delves into the often overlooked topic of “Rationality vs. Honesty” within the realm of cryptocurrencies. His comments emphasize that this concept is crucial not only to understanding Kaspa (denoted as $kas) but to the wider cryptocurrency landscape, including Proof of Work (PoW) systems.

Shai points out that the discussion surrounding Rationality versus Honesty is significant for a variety of reasons, most notably that it taps into complex theories of game theory and the formal meanings of critical terms in the crypto space. Despite its importance, these discussions remain infrequently addressed in mainstream conversations, potentially due to their complicated nature.

The interplay between rationality and honesty can significantly influence user behavior and protocol design in cryptocurrencies. Rationality often refers to the strategic decision-making processes employed by participants aiming to maximize their benefits, while honesty pertains to the integrity of the information shared and actions taken within the ecosystem. Shai’s tweet suggests that a better understanding of this dichotomy could lead to more robust discussions and advancements in the world of digital currencies.

As the crypto landscape continues to evolve, insights from thought leaders like Shai Deshe Wyborski are invaluable in navigating the intricate dynamics that underpin these technologies.

For anyone interested in staying updated on developments related to Kaspa and its unique approach to blockchain technology, Kaspanews.net remains the premier source for all the latest news and resources.

The Official Kaspa X Profile: 😎#ICYMI – A short article about $KAS – the “Burn Address”. Check it out at https://t.co/dqChjF3UmJ#KAStrivia #DidYouKnow #DYK pic.twitter.com/KYdNBOgzFK— Kaspa (@KaspaCurrency) October 16, 2024


### Kaspa Highlights New Article on the “Burn Address”

In a recent post on its official X (formerly Twitter) profile, Kaspa, the cryptocurrency focused on fast and scalable transactions, shared an interesting piece of information for its community. The tweet highlights an article written by user @coderofstuff_ that delves into the concept of the “Burn Address” related to the $KAS cryptocurrency.

The tweet encourages followers to check out the article, stating: “😎 #ICYMI – @coderofstuff_ wrote a short article about $KAS – the ‘Burn Address’. Check it out at [link].” This engaging content serves to inform the community about an essential aspect of the Kaspa ecosystem, emphasizing the importance of understanding the mechanisms, such as burn addresses, that are important for the economic model of a cryptocurrency.

Burn addresses are used in many blockchain ecosystems to permanently remove tokens from circulation, enhancing scarcity and potentially increasing the value of remaining tokens. This article seems to provide insights into how this mechanism works specifically for Kaspa.

Stay updated on all things Kaspa by following their official channels. For comprehensive news, resources, and updates, visit Kaspanews.net—the premier destination for the latest news and insights on the Kaspa cryptocurrency!