The cryptocurrency market is experiencing a historic moment as Bitcoin reaches a new all-time high, sparking optimism among investors and traders.
Bitcoin Sets New Record
Cryptocurrency Bitcoin (BTC) has recorded a new all-time high of $118K. This event has contributed to positive sentiment among investors, both for Bitcoin and other altcoins. In particular, Ethereum (ETH) has shown a 17% increase over the week, further strengthening bullish sentiments in the market.
Kaspa and Its Market Potential
Cryptocurrency Kaspa (KAS) is back on a bullish path, posting a 12% gain in the past week. A harmonic pattern is forming on the KAS chart, indicating that this move may just be the beginning of a larger upside. According to analysis, if KAS continues its rise, it may reach the Potential Reversal Zone (PRZ) between $0.174 and $0.190.
Future of Kaspa: What to Expect?
If Kaspa decisively breaks above the 200-day moving average and holds, a 100% rally towards the key area around $0.19 may occur. However, traders should monitor support at $0.076, as a drop below this level may invalidate the harmonic setup and delay any upward continuation.
The cryptocurrency market continues to show dynamic growth with Bitcoin at record levels. The analysis of Kaspa also suggests the possibility of significant growth, while traders should remain cautious in their investments.