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<p>Crypto analyst Jackis has raised concerns over the <a href="https://captainaltcoin.com/why-is-kaspa-dropping-in-the-top-50-cryptos-kas-price-prediction-2024/" target="_blank">future of Kaspa (KAS)</a> and Bitcoin (BTC), citing bearish trends in both assets. In a&nbsp;tweet, Jackis highlighted Kaspa’s underperformance compared to Bitcoin, pointing out key technical patterns that indicate a potential drop in price for both assets.&nbsp;</p> 
<p>The tweet and chart analysis suggest that while <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank">Bitcoin</a> is expected to decline, Kaspa may experience a much steeper drop.</p> 
<h2 class="wp-block-heading" id="strong-kaspa-s-descending-trend-and-bearish-forecast-strong"><strong>Kaspa’s Descending Trend and Bearish Forecast</strong></h2> 
<p>According to Jackis’ chart, Kaspa has consistently made lower lows (LL) and lower highs (LH) since October 2023. This trend, seen in a descending channel pattern, suggests that Kaspa has been on a prolonged downward trajectory.&nbsp;</p> 
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   <p lang="en" dir="ltr">I honestly don't know what all the fuzz is about with <a href="https://twitter.com/hashtag/KASPA?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#KASPA</a><br><br>It has clearly been underperforming <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a> this entire time since both October 23 &amp; March 24 making LLs &amp; LHs while <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#BTC</a> was doing HLs &amp; HHs<br><br>When this re-accumulation ends &amp; both break down way lower, <a href="https://twitter.com/search?q=%24KAS&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$KAS</a> will… <a href="https://t.co/bU70dbvyD3" target="_blank" rel="nofollow">pic.twitter.com/bU70dbvyD3</a></p>— JACKIS (@i_am_jackis) <a href="https://twitter.com/i_am_jackis/status/1838513224729219535?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">September 24, 2024</a>
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<p>Jackis emphasized that the recent upward price movement in August, which he referred to as a “complacency shoulder,” was likely a temporary spike rather than a sign of a bullish reversal.&nbsp;</p> 
<p>He warned that this upward movement could be part of a larger price manipulation, designed to attract buyers before another&nbsp;drop. The analyst’s chart further shows <a href="https://www.coingecko.com/en/coins/kaspa" target="_blank" rel="nofollow">KAS’s bearish outlook</a> with a forecasted downward arrow, indicating that the token’s trend is unlikely to reverse soon.&nbsp;</p> 
<p>With liquidity taken above the recent high, Jackis believes Kaspa is primed for another substantial decline.</p> 
<h2 class="wp-block-heading" id="strong-bitcoin-s-comparative-performance-strong"><strong>Bitcoin’s Comparative Performance</strong></h2> 
<p>While Bitcoin is also experiencing a bearish trend, Jackis noted that it has outperformed Kaspa. Bitcoin’s price has been forming higher lows (HL) and highs (HH), contrasting Kaspa’s lower lows and highs.&nbsp;</p> 
<p>This suggests that, despite a declining trend, Bitcoin has shown relatively more resilience in its price movement. Jackis predicts that Bitcoin will also face a downturn, though the decline is expected to be less severe than Kaspa’s.&nbsp;</p> 
<p>The chart shared by the analyst indicates that Bitcoin could be forming a descending broadening wedge, a pattern that often l<a href="https://cryptopotato.com/very-bullish-bitcoin-price-prediction-heres-when-the-btc-rally-will-starty-analyst/" target="_blank">eads to a bullish reversal</a> but can continue the downward trend until a breakout occurs.</p>  
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/celestia-tia-price-pumps-but-traders-point-to-warning-signals/" target="_blank"><strong><em>Celestia (TIA) Price Pumps, But Traders Point to Warning Signals</em></strong></a></p> 
<h2 class="wp-block-heading" id="strong-re-accumulation-and-market-liquidity-strong"><strong>Re-accumulation and Market Liquidity</strong></h2> 
<p>In his tweet, Jackis mentioned that both cryptocurrencies appear to be in a re-accumulation phase. However, he believes that once this phase ends, both assets are likely to break down to lower levels.&nbsp;</p> 
<p>He also pointed to key liquidity being taken during Kaspa’s August pump, describing it as a “scam pump,” further supporting his bearish outlook.</p> 
<p>The tweet suggests that this liquidity grab was part of a market manipulation strategy, with Kaspa set for a more aggressive downturn than Bitcoin. Jackis recommended selling Kaspa due to its huge downside potential.</p> 
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<p>The post <a href="https://captainaltcoin.com/analyst-warns-of-kaspas-downside-potential-says-bitcoin-btc-has-outperformed-kas-amid-bearish-trend/">Analyst Warns of Kaspa’s Downside Potential, Says Bitcoin (BTC) Has Outperformed KAS Amid Bearish Trend</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Analyst Warns of Kaspa’s Downside Potential, Says Bitcoin (BTC) Has Outperformed KAS Amid Bearish Trend

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