Congratulations to $kas, the one-month long price adjustment is over!
I first got to know the coin, Kas, because of its astonishing increase in the long bear market. So, I admit that I am also a layman who was conquered by its increase.
However, as I pay more and more attention to it, my understanding of it is also increasing.
Today, I will not talk about its core technology for solving the impossible triangle in blockchain, nor will I talk about how famous its founder is. I just want to briefly talk about its current market situation.
From the monthly chart, we can see that $kas has experienced two large increases since it was launched on the gate until today. (This does not include the March when it was first launched, because, in my opinion, the starting price of any coin when it is first launched on the exchange is not very meaningful as a reference point for the increase.)
Its first major rise was from June to November 2023. During this period, its price rose from a minimum of 0.01197 to 0.155, an astonishing increase of nearly 12 times;
The second time was from January to February this year. During this period, the price of $kas increased from 0.074 to 0.18970, an increase of 1.68 times.
As the saying goes, there is no coin that only rises and never falls. After experiencing the second surge, $kas also had to go through market adjustments. What we are experiencing now is the adjustment after its second surge.
In this adjustment, the price of the coin dropped from the highest 0.1897 to the lowest 0.09735, which is close to the level of half. This significant drop made many people who bought at high positions feel uncomfortable.
Because of this, many people handed over their chips in this adjustment, and among these people were some big investors who held hundreds of billions of coins in the early days.
Objectively speaking, the surrender of chips by these big players accelerated the decline in the price of coins during this particular period, because the amount of coins they threw out was not a small number.
Some $kas holders have been criticizing this, but, in my opinion, we should not blame them. Instead, we should thank them.
Because, if it weren't for their crazy selling, how would those who are optimistic about $kas have the opportunity to buy kas below 0.1 again in this bull market that is crazier than any other bull market?
In addition, I believe that although the selling behavior of these big players has caused the price of the currency to drop a lot and has also reduced the book funds of the holders a lot, these impacts are only temporary.
What’s more, their actions have objectively accelerated the adjustment process of the currency price and shortened the adjustment cycle of the currency price. Isn’t this a good thing?
In fact, it was precisely because of seeing these tycoons selling that I was sure of this: the adjustment of the $kas coin price has ended, and a new rising cycle is about to come!
