Up The Mountain

An Avalanche has been building up steam as of late — the price of AVAX rose by nearly 100% in the month of January and BTC hodlers have been moving holdings to the Avalanche chain. What’s been fueling this growth over the past month — and what does the future hold for Avalanche? Will this growth continue into the new year? Or will growth stagnate as 2023 continues to progress?

With the gradual growth of Bitcoin since the beginning of 2023, other tokens have also started to grow. Above, we have shown the graph of the dependence of the price of AVAX with Bitcoin. As you can see, on the days when the price of Bitcoin increased, the price of AVAX also increased, and on the contrary, on the days when the price of Bitcoin decreased, the price of AVAX decreased.

As can be seen in the cumulative chart of AVAX price, the significant growth of AVAX is growing according to the market conditions and the price of Bitcoin, and it can be said that AVAX is susceptible to further growth this year. It shows that real holders of AVAX believed in the value of holding them.

In the last 46 days, we have seen 30 days of average negative AVAX price and 16 days of average positive AVAX price. Although the positive trend of AVAX price has been positive in the period of 46 days, which shows low price drops and high price growths during different days.

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Up The Mountain