Predicted surge of Pi Network's cryptocurrency, PI, anticipated at approximately 240% as per expert analysis. Discover the reasons behind this potential increase.
In the world of cryptocurrency, predictions about future price movements are always a topic of interest. Two analysts, Javon Marks and Jeff Bezos, have recently made headlines with their bullish outlook on the Pi Network's native token.
According to their predictions, the Pi Network's token could potentially see a staggering 242% increase, reaching $1.23. This prediction comes after a price rally earlier this year that peaked at $3. However, it is important to note that these predictions are speculative and not guaranteed.
The potential price increase is not the only news surrounding Pi Network. The Testnet has successfully been upgraded to v22, and the upgrade from v19 to v23, covering Testnet, Testnet2, and Mainnet, remains on track.
The upgrade is aimed at improving network performance and stability. Version 23 is based on Stellar v23 and is custom-made for Pi Network. This update is expected to provide Pioneers with additional control and functionalities, including Know-Your-Customer (KYC) authorities.
However, the optimism is tempered by a few factors. Over 140 million tokens are scheduled for unlock in the next 30 days, which could add selling pressure to the market. Moreover, the amount of PI coins stored on exchanges has hit a fresh all-time high above 445 million, further increasing immediate selling pressure.
Javon Marks bases his prediction on a bullish divergence with the Moving Average Convergence Divergence (MACD) in Pi Network's asset valuation. Jeff Bezos, on the other hand, believes that Pi Network's token is still in the accumulation zone, suggesting a potential pump to a new all-time high.
At the upcoming TOKEN2049 conference in Singapore, influential figures from the industry such as Tether's Paolo Ardoino, Binance's Richard Teng, Bitmine's Tom Lee, Maelstrom's Arthur Hayes, Tron's Justin Sun, and many others will be in attendance. Dr. Chengdiao Fan, one of the co-founders of Pi Network, will also be speaking at the conference.
While the predictions by Javon Marks and Jeff Bezos offer a glimmer of hope for Pi Network investors, it is crucial to consider potential factors that could add heavy selling pressure. These include looming token unlocks and record exchange reserves above 445 million. As always, it is advisable to do thorough research and consider multiple perspectives before making investment decisions.
Currently, Pi Network's token is being traded on various exchanges, with CoinGecko providing data on its current price. According to the provided data, Pi Network's token has been on a substantial downfall over the past several months. Whether the predictions of Javon Marks and Jeff Bezos will come to fruition remains to be seen.
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