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Experienced cryptocurrency analyst and trader Credible Crypto, who is closely followed, has stated that he expects the rise in Kaspa (KAS), which is ranked 29th in the top 50 altcoins by market capitalization, to continue exponentially. The analyst also commented on the current outlook for Bitcoin (BTC).
Analyst Expects Continued Rise in KAS
Anonymous cryptocurrency analyst Credible Crypto, from his personal account on the social media platform X (formerly known as Twitter), stated that he expects Kaspa’s native asset KAS to reach much higher levels after recently reaching an all-time high.
Referring to the rise he foresees for KAS, the analyst said, “There is only one altcoin I have encountered so far that has a impulsive structure that is rising as clearly as Bitcoin, and that is KAS.”
Kaspa, which started the year at $0.00539, has since made an increase of over 17 times, or 1,746%, and is currently trading at $0.0995 at the time of writing this article. Looking at the graph shared by the analyst, it is expected that the altcoin, which is currently trading at $0.1314, will make an increase of at least 22 times, up to $3.10.
Analyst’s Bitcoin Analysis with 2 Examples
Turning to Bitcoin after discussing KAS, Credible Crypto stated that it is not very likely for the largest cryptocurrency to fall into the range of $32,000 to $33,000 anymore. According to the analyst, Bitcoin seems to be making a price movement similar to its past price movements before starting an uptrend.
Credible Crypto pointed out that before the start of an uptrend, Bitcoin did not drop to the range of $11,000 to $12,000 and then refreshed its record just below $70,000 in 2021. The analyst also mentioned the example of 2019, where Bitcoin did not drop to the range of $4,000 to $5,000 and then surged to $14,000, and said the following:
Again, the key point here is that our context in all three scenarios is very similar. Each of these events occurred in the midst of a major rally where the upward momentum was strongest and significant price movements were mostly prominent. Could it be different this time? Of course. However, in my opinion, we have a higher chance of seeing more repeats of the same things.
