Analyst Lee The Captain recently shared his opinion that Onyxcoin (XCN) could reach $1, despite current market fluctuations. He remains optimistic, basing his predictions on market trends analysis and historical data.
Recent Changes and Market Expectations
XCN's recent price fluctuations have caused some concern among investors. However, Lee The Captain views the current decline as temporary and part of typical crypto market behavior. He mentions past market shocks like FTX and Terra Luna, which quickly reversed market situations. Although the recent security issue with Bybit raised some worry, Lee believes it won't affect XCN's long-term prospects.
Historical Trends and Market Timing
Lee The Captain's analysis focuses on how altcoins generally peak about 18 months after Bitcoin's halving. With the last halving occurring in April 2024, he considers October 2025 as a potential high for altcoins. While nothing is guaranteed, this timeline informs his XCN predictions. XCN is the primary token for the Onyx Protocol, and although it lacks widespread adoption, it could match the potential of projects like XRP and Stellar.
Investor Sentiment and Market Recovery
Despite skepticism around XCN, Lee The Captain remains optimistic about its future. Data from Crypto.com demonstrates that over 600 million people now hold cryptocurrency, indicating continuous market growth. He explains that leveraging successful elements from projects like Stellar and Ripple is a standard practice in the crypto industry. Just as Pepe built on Dogecoin and Shiba Inu, XCN could benefit from its connections to established blockchain projects.
As the crypto market moves toward the next bull run phase, investors will watch closely to see if XCN's price can reach the $1 target projected by Lee The Captain, or if broader market conditions alter its trajectory.
