Coin Bureau’s host, Guy Turner, has recently forecasted an optimistic future for Avalanche (AVAX), suggesting the cryptocurrency may experience a dramatic increase in value. Turner, addressing his extensive YouTube audience, anticipates a surge in AVAX’s price that could potentially reach a 600% gain.
Tokenization of Assets Fuels AVAX Growth Predictions
Turner emphasizes that the upcoming bull market is likely to be propelled by the tokenization of real-world assets, an area where Avalanche has set its sights. With the platform’s dedicated mission to convert various real-world assets into tokens, Turner bases his prediction of AVAX’s substantial rise on this strategic focus.
Avalanche’s Diverse Applications Strengthen Market Position
Avalanche’s engagement with decentralized finance (DeFi) and the symbiotic realm of GameFi is key to Turner’s bullish forecast. He opines that AVAX, taking advantage of these burgeoning sectors, is poised for considerable expansion, especially as the market’s fear of missing out (FOMO) nears its zenith. Turner also draws comparisons with other popular altcoins, such as Solana (SOL), to illustrate AVAX’s potential for a significant long-term value increase.
Currently priced at $40.05, AVAX has already witnessed an impressive 350% rebound since its lowest point in October 2023. Turner, spotting a promising bullish pattern on the weekly chart, suggests a near-term growth of about 74%, potentially propelling the altcoin to the $70 mark in the imminent future, provided market conditions remain stable.
Despite the rosy forecast, Turner does not overlook the possible selling pressure that may confront Avalanche shortly. He points out that the Luna Foundation Guard, associated with the now-bankrupt Terra, holds a sizable AVAX cache that could flood the market if liquidated. These potential sales pose a risk to AVAX’s near-term price stability and could adversely impact its trajectory.