- Jasmy price has not been left behind in the ongoing crypto rebound.
- It has more than doubled from its lowest level this year.
- The rally happened as the crypto fear and greed index soared to 77.
JasmyCoin price has made a strong comeback in the past few weeks as the crypto fear and greed index rose. The coin jumped to a high of $0.0060 on Wednesday, the highest point since May 10th. At its highest point, the coin was up by over 106% from its lowest point this year.
JasmyCoin, like other cryptocurrencies, has jumped because of the risk-on environment that we are in. This period has seen the crypto fear and greed index jump to the greed zone of 77, the highest point in months. This is an important gauge that looks at the market sentiment by focusing on several gauges, including social media activity and options.
This greed is also being seen in other gauges. For example, the CBOE VIX index has crashed to $14, 55% below its highest point this year. This is an important gauge that looks at the volatility in the S&P 500.
Further, after rising to over $107 recently, the US dollar index (DXY), has pulled back to below $105. American equities have also been in a strong rally, with Invesco QQQ and SPY ETFs nearing their highest points this year.
Other cryptocurrencies have also roared back. Celestia’s TIA, which had its airdrop last week, has surged by over 200%. As I wrote earlier, Pangolin price has jumped by over 1,100% from its lowest point this year. Coins like Cardano, BENQI, Velas, Render, and Pocket Network have soared by over 30% in the past 24 hours.
All this explains why JasmyCoin has made a strong comeback as well. In most cases, the coin does well when Bitcoin and other cryptocurrencies are in an uptrend. Bitcoin has already rebounded to the highest level this year.
There are several catalysts for this. For example, America’s inflation has drifted downwards recently, leading many economists to believe that the Federal Reserve will cut rates in 2024. There are also rising hopes that the SEC will approve a Bitcoin ETF soon.
For starters, Jasmy is a small cap coin that is extremely popular among day traders. It was created by past senior executives at Sony and is well-known as Japan’s Bitcoin. Its main goal is to ensure that user data is protected online.
This is important because data has become an important part of the world economy. Companies like Meta Platforms and Google are all making billions of dollars by providing free services and monetizing the data.
The outlook for Jasmy is bullish as long as the current crypto rally holds. If this happens, JASMY will likely jump to the key resistance point at $0.0083, the highest point in February this year. This price is about 55% above the current level.
