Bullish Sentiment on Avalanche (AVAX) as Coin Bureau Host Predicts Massive Rally
The host of the Coin Bureau YouTube channel, Guy Turner, is expressing bullish sentiment on Avalanche (AVAX), a blue-chip competitor of Ethereum (ETH). Turner believes that Avalanche's mission to "tokenize all real-world assets" positions it well within a major narrative that could drive the next bull market.
Combining tokenization and a focus on GameFi (game finance), Turner suggests that Avalanche has the potential for a massive rally, with AVAX potentially increasing 5x to 7x from its current levels in the long term. This prediction is based on Avalanche's performance compared to other large-cap altcoins like Solana (SOL).
Currently trading at $40.05, AVAX has seen a significant gain of approximately 350% from its October lows. In the short term, Turner speculates that Avalanche could experience a further 74% increase in value, potentially reaching as high as $70 in the coming weeks, if conditions remain favorable.
However, there is a potential risk of selling pressure on AVAX due to the Terra Luna Foundation Guard holding nearly $80 million worth of the cryptocurrency. This concern arises following Terra's recent bankruptcy filing in the United States, which could result in the liquidation of their AVAX holdings.
As the cryptocurrency market continues to evolve, investors are closely watching Avalanche's performance, with many anticipating a surge in value for AVAX. With its unique combination of tokenization and focus on GameFi, Avalanche could emerge as a strong contender in the digital asset space.
Analyst comment
Positive news: The analyst predicts a bullish future for Avalanche (AVAX) as it aims to tokenize real-world assets and focus on GameFi. AVAX has the potential to increase 5x to 7x in the long term, similar to other large-cap altcoins like Solana (SOL). In the short term, AVAX could see a 74% increase, reaching $70 in the coming weeks. However, there is a potential risk of selling pressure due to the Terra Luna Foundation Guard holding $80 million worth of AVAX, especially considering Terra’s bankruptcy filing.
