Guy Turner, host of the Coin Bureau YouTube channel, expressed bullish expectations for an altcoin considered as an Ethereum rival.
Turner gave a promising assessment of Avalanche (AVAX), one of Ethereum’s leading competitors. Turner emphasized that the tokenization trend will be an important factor that will shape the future bull market.
Turner attracted attention with Avalanche’s mission to tokenize real-world assets. He stated that the aim of AVAX is to digitize all kinds of assets in the traditional financial system and integrate them into a blockchain-based ecosystem. He stated that this approach can enable cryptocurrencies and blockchain technology to reach large masses and create a significant transformation in the financial system.
Turner suggested that the Avalanche, with this mission, has great potential in the future and can gain significant value from current levels. Taking an analytical approach, he predicted that AVAX could appreciate up to 600%.
“When you factor in Avalache’s GameFi focus, you have a truly massive bullish formula when the crypto market hits peak FOMO (fear of missing out). “While it is difficult to say how high AVAX could go if it follows other major altcoins like Solana (SOL), it could rise 5 to 7x from current levels in the long run.”
In contrast, the Coin Bureau host says that in the short term, Avalanche could rise nearly 74% from the current level.
“[AVAX] It appears to be forming a huge bull flag on the weekly chart. Depending on how you draw your lines, AVAX could rise as high as $70 in the coming weeks. “It is possible that it will rise further if macro conditions are suitable.”
However, Turner has a warning for the altcoin. The analyst thinks Avalanche may come under selling pressure soon:
“However, there is only one thing that should not be forgotten; That is, Terra’s Luna Foundation Guard still holds just under $80 million worth of AVAX. You may have heard that Terra recently filed for bankruptcy in the US. This means it is possible that AVAX will be liquidated soon.”
You can follow the current price movement here.
