The post Is Avalanche poised to beat Bitcoin in Q4? AVAX shows promising signs! appeared on BitcoinEthereumNews.com.

AVAX flips the bull market support bands as Q4 kicks in. Avalanche could outperform Bitcoin in the final quarter of the year. Avalanche [AVAX] is a smart contracts platform known for its ability to scale infinitely and finalize transactions in less than a second, offering developers a flexible ecosystem. Recently, the crypto markets have shown bullish signs, though geopolitical tensions threatened to dampen this sentiment. Despite these challenges, Avalanche has flipped the bull market support band. AVAX is now trading above the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA), which are positive signs for the long-term outlook. Source: IntoTheCryptoverse Many traders are questioning whether AVAX could see significant gains and potentially outperform Bitcoin (BTC) in the final quarter of the year. AVAX shows strength against BTC in valuation Examining the AVAX/BTC valuation over the past two months shows that Avalanche has demonstrated more strength than Bitcoin. Currently, the AVAX/BTC valuation stands at 0.000450, reflecting AVAX’s consistent growth for the last two months. The chart shows a steady rise, but AVAX has yet to break a short-term high that would fully flip Bitcoin. If Bitcoin leads the anticipated bullish quarter, Avalanche could face challenges in maintaining its edge. However, AVAX has established an early lead against BTC, but it remains uncertain whether this will hold. Source: IntoTheCryptoverse Data for the past week, month, and quarter shows AVAX gaining 2.81%, 1.79%, 20.23%, and 2.23% respectively against Bitcoin, setting the stage for potential outperformance in Q4. The 365-day running ROI Another key metric is Avalanche’s 365-day return on investment (ROI), which currently stands at 3.067. This indicates that AVAX’s year-to-date returns are positive, outperforming the average for the year. Many traders holding AVAX are in profit, and with the positive ROI, these traders are less likely to sell…

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Filed under: News - @ October 2, 2024 11:16 pm