Analyst Predicts 600% Surge for Avalanche (AVAX)

Guy Turner, the popular figure behind the Coin Bureau YouTube channel, recently shared his bullish outlook on a leading Ethereum competitor.

In his analysis, Turner highlighted the potential driving force for the next bull market: the tokenization of real-world assets. According to him, Avalanche (AVAX) stands out with its ambitious mission to tokenize various real-world assets, potentially paving the way for a substantial surge in its value.

Turner suggested that AVAX could experience a remarkable increase of up to 600% from its current position, especially with its focus on GameFi, a fusion of decentralized finance and online gaming that allows participants to earn rewards from gaming activities.

At present, AVAX is trading at $40.05, marking a significant gain of approximately 350% from its lowest point in October 2023.

In terms of short-term projections, Turner indicated a potential increase of around 74% for Avalanche, driven by what he sees as a significant bull flag formation on the weekly chart.

However, Turner also issued a word of caution, noting the possibility of selling pressure on AVAX in the near future. He pointed to the holding of nearly $80 million worth of AVAX by Terra’s Luna Foundation Guard, which could face liquidation following Terra’s recent bankruptcy filing in the United States.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.