A crypto analyst with over 30,000 YouTube subscribers shares a positive outlook for Onyxcoin (XCN), discussing its recent price increase and future potential.
Increase in Onyxcoin Price
In a video on the 'Bags Only' channel, the analyst stated that Onyxcoin's price surged from less than $0.01 to around $0.22 in a short time. This equates to a 152% increase within just one week. At the time of the video, the trading volume had nearly reached half a billion dollars, comparable to its total market cap.
XCN Price Forecast
The analyst shared specific price targets for Onyxcoin, noting that XCN previously hit a $1.1 billion market cap in January. Looking ahead, he believes an $8 billion market cap is 'extremely attainable,' pushing the price to around $0.23 per coin. In an optimistic scenario, if XCN reaches a $22 billion market cap, the price could hit $0.67, marking a 30-fold increase from current levels.
Factors for Onyxcoin Growth
The analyst highlighted several reasons for his belief in Onyxcoin's continued growth. Firstly, XCN now has over 46,000 holders, gaining more than 1,000 new investors in just two weeks. Secondly, the critical relationship between Chain and Onyxcoin will also contribute positively, especially with their collaborative efforts towards ISO 222 compliance.
The analyst emphasizes that his positive outlook on Onyxcoin is not solely due to the recent price surge, but also based on the sustained interest and fundamental factors supporting the project.
