AVAX Price Soars As Market Enters Euphoria, Will It Repeat 2021's 70X Rally?
- Patricia ArquetteOriginal
- 2024-11-11 21:24:21934browse
The price of AVAX could be at the edge of repeating 2021's 70X rally after Co-founder of Blockworks Jason Yanowitz officially called the euphoric phase of the market.
AVAX price retraced 1% in the last 24 hours, but the asset is still up 32% in the last 7 days. Trading at $31.2, the price of AVAX sits at a crucial resistance level, which, if broken, could propel the asset to previous yearly highs. Meanwhile, the co-founder of Blockworks has officially called the euphoric phase of the market.
AVAX Price Soars As Market Enters Euphoria
The price of AVAX could be on the verge of repeating 2021’s 70X rally after Co-Founder of Blockworks Jason Yanowitz officially called the euphoric phase of the market.
1/ There are 4 phases of a bull market.
Buckle up, we just entered the most fun phase.
Welcome to Stage 3
This phase, which he says began on November 5 after Trump won the presidential election, is characterized by green market days and only lasts for a short time.
He also noted that during this stage, the private market is preparing to enter the crypto space, starting with allocators, who ‘woke up’ on November 6 grossly underexposed to crypto.
Yanowitz predicts that these firms are calling the VCs and hedge funds to allocate and that they will announce big new funds soon.
In the 2021 bull run, the private market sector entered crypto towards the end of 2020, leading up to the peak of the bull run. The investment from the private market was also notably larger in 2021 than it was in 2017. Following this pattern, it is expected to soar even higher in 2025.
The above is the detailed content of AVAX Price Soars As Market Enters Euphoria, Will It Repeat 2021's 70X Rally?. For more information, please follow other related articles on the PHP Chinese website!