Could AVAX Soar to $150 After the Bitcoin Halving?

by

Anticipation is high for Altseason, with leading altcoins drawing significant investor interest. One such crypto asset poised for potential new heights and record-breaking gains is Avalanche (AVAX). Relatively new on the blockchain scene, AVAX has the capability to open up a fresh growth opportunity in the coming months, according to industry experts.

In 2020, Avalanche made its debut and quickly rose to become one of the most sought-after layer 1 blockchain networks during the previous cryptocurrency boom. With Solana and Polygon, Avalanche garnered attention in the blockchain sphere thanks to its distinctive design. As scaling challenges emerged on Ethereum, Avalanche stepped up as a swift, affordable, and expansive alternative that the industry urgently required.

In a short time after being launched, Avalanche’s native currency AVAX experienced a dramatic increase in price, rising approximately tenfold from its initial value of around $4.6 in September 2020. The highest recorded price for AVAX according to Coinmarketcap was $128.78 on November 22, 2021.

Avalanche entered the crypto race at the start of the previous market cycle and managed to compete with leading blockchains. However, its price gains in AVAX have been relatively lower compared to other cryptocurrencies like Solana and Polygon that also debuted around the same time. According to market data, the all-time price increase for AVAX is 647%, while it’s 16,264% for Solana and 14,900% for Polygon.

In the coming months following Bitcoin‘s halving, Avalanche (AVAX) faces critical importance as its performance will determine if it surpasses its competitors or joins the ranks of “Dead Chains.” Several analysts have identified AVAX as a not-to-be-missed crypto asset for the upcoming bull run.

Could AVAX Price Break $150?

The current price of AVAX hovers around $35, significantly lower than its past peaks. However, following Bitcoin’s halving event, experts predict that AVAX, along with other crypto assets, will regain strength and reach new heightened prices. The existing record high for AVAX was $128.78, while analysts anticipate a new high above $150 during the upcoming market cycle. This projected price of $150 represents the minimum expected growth for AVAX in this bull run, as the entire cryptocurrency market is predicted to experience substantial gains.

FAQs

How high AVAX could go in 2024?

AVAX price could go as high as $150 in 2024 or 2025.
Does Bitcoin halving have any impact on Avalanche (AVAX)? 
Bitcoin halving doesn’t affect Avalanche (AVAX) price directly. Instead, it is believed that AVAX’s price might increase during the same market rally that follows Bitcoin halving.

Read More

2024-04-18 16:52