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Kaspa was not spared from the recent massive cryptocurrency market downturn, and even now, the KAS price continues to face challenges. After briefly recovering to over $0.11 following the crash, it has since pulled back to the $0.09 range.
YouTuber ‘Freeman,’ who has a following of approximately 10,000 subscribers, recently shared a video detailing his decision to invest $10,000 in Kaspa during the price dip.
Seizing the opportunity presented by the market decline, Freeman purchased 100,000 KAS tokens for around $10,000 during a significant liquidation phase. His acquisition coincided with a moment when many traders were caught off guard, as Kaspa’s price slipped below the crucial $0.10 threshold, briefly touching $0.07 and even reaching as low as $0.04 on certain exchanges. Freeman referred to this event as a “Black Swan” occurrence.
Optimistic Kaspa Price Projection
Freeman remains highly confident about Kaspa’s future potential, drawing comparisons to Cardano’s trajectory in previous market cycles. His forecast is particularly striking—he anticipates the KAS price could surge to $1 or beyond in the near term, which would represent a tenfold increase from its current valuation.
His bullish outlook is based on several upcoming developments that could positively impact Kaspa’s price, such as potential listings on major exchanges like Coinbase and Binance, the introduction of smart contract functionality, and increasing adoption within the cryptocurrency sector.
The technical analysis presented in Freeman’s video highlights the formation of a mini head-and-shoulders pattern, suggesting a possible retest of the $0.08 level. He also notes that if Bitcoin undergoes a 15-20% correction, Kaspa’s price could experience further declines, potentially dropping to the $0.05 range. However, he emphasizes that the RSI (Relative Strength Index) has historically indicated strong recoveries following oversold conditions.
The broader cryptocurrency market conditions also play a key role in Freeman’s analysis. He references historical trends where the total market capitalization has expanded significantly in each cycle, from an $800 billion peak in 2018 to $2.8 trillion in 2021. Additionally, factors such as El Salvador’s Bitcoin reserves and discussions surrounding potential U.S. cryptocurrency strategic reserves contribute to his long-term bullish perspective.
Read also: Analyst Warns Against Accumulating More Kaspa (KAS) Tokens Amid Price Dip—Here’s Why
Follow us on X (Twitter), CoinMarketCap, and Binance Square for more daily crypto updates. Source: captainaltcoin.com
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