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Tommy Does Crypto shares his perspective on Bitcoin’s current market trends, highlighting a strong resistance level near the $100K mark. According to the analyst, Bitcoin is likely to oscillate between $90K and $100K before potentially surpassing the psychological $100K threshold later in December.
In addition, the crypto expert delves into Kaspa’s price movements, identifying the emergence of a bullish cup-and-handle pattern. He suggests that KAS could soon enter price discovery mode, with particular attention to resistance near its all-time high levels.
Tommy also discusses challenges within the KRC20 ecosystem, especially concerning meme coins and the performance of Crypto Galaxy. He outlines his strategy of accumulating certain KRC20 meme tokens, specifically naming Doge-K and Casby as potential high-reward investments.
Concerns About XRP
The analyst examines XRP’s recent market performance, noting its fourfold increase over 30 days and its rise to the position of the third-largest cryptocurrency with a $139 billion market cap. Tommy Does Crypto raises concerns about XRP’s centralization, pointing out that Ripple controls 55% of the total supply.
He describes XRP’s historical price behavior as a cycle of sharp price surges followed by steep corrections, suggesting that the current price levels might present an ideal exit point for investors.
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Optimistic View on Kaspa
Tommy highlights Kaspa as a groundbreaking solution to the blockchain trilemma, addressing scalability, security, and decentralization simultaneously.
He underscores the importance of KAS’s ghostDAG protocol and its potential as a decentralized currency. The analyst reveals that he entered the market early at $0.03, with KAS now trading at $0.15. He projects price targets ranging from $2 to $5 during the current bull cycle.
Market Overview and Predictions
In the current market landscape, Bitcoin is trading near the $100K resistance zone, while XRP has reached a $139 billion market cap. Meanwhile, Kaspa, with a $5 billion market cap, has experienced remarkable growth from $0.03 to $0.15. Tommy predicts further upside potential for KAS, with price targets between $2 and $5.
The analyst believes that Kaspa could eventually rival Ethereum and potentially challenge Bitcoin’s dominance. He encourages readers to conduct their own research into Kaspa while cautioning against centralized cryptocurrencies like XRP.