Cryptocurrency analyst Lee the Captain remains confident that Onyxcoin (XCN) could reach the price target of $1 during the current bull run, despite the market dip.
Lee's Long-Term Forecast
In a recent YouTube video shared with his over 48,000 subscribers, Lee explained his confidence. With a long-term investment philosophy, he avoids panicking over short-term price movements, recommending a strategy of dollar-cost averaging. This approach helps him avoid the confusion and missed opportunities of trying to time the market.
Onyxcoin's Market Position
Lee notes Onyxcoin's position in the market. The XCN token, as the native coin of the Onyx Protocol, is positioned against the same markets as Ripple and Stellar. He believes this is a positive indicator, suggesting potential for institutional adoption and use cases.
Potential Surge to $1
A $1 price target implies approximately a 58x gain from current levels. Lee acknowledges that while this is ambitious, such gains are possible during a cryptocurrency bull market. He remains committed to his investment strategy for XCN, citing its focus on the right market and strong fundamentals.
Despite the typical volatility of cryptocurrency markets, Lee remains steadfast in his $1 price target for Onyxcoin during this bull run.
