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AAVE appeared in crypto ratings in October 2020. In the first 3 months of its life, AAVE grew from $50 to $550. An 11-fold increase in price. This can easily be explained by the fact that the birth of the AAVE coin coincided with another bull rally. Bitcoin rose from 11 thousand to 63 thousand in exactly the same period. The first bullish wave of the second bull season was taking place. Let us recall that the first bull season took place in 2018. What did the second bullish wave bring us?
At first, the coins experienced a market correction, AAVE fell in price from 550 to 300, and Bitcoin sank from 63 thousand to 31.
After that, they rushed upward. Bitcoin rose from 31 thousand to 67, thereby setting its absolute record for 2021, and AAVE rose from 300 to 662, recording its all-time high.
Unfortunately, it will not be able to reach such heights again.
After all, AAVE completely failed the third bull season, which is taking place right now in 2024. All these 3 years, after the last bull rally, AAVE traded at a level between 50 and 150 dollars, not reacting to the market movement in any way. AAVE completely slept through the first wave of the 2024 bull market. After all, what else can you call such an insignificant increase in price from 100 to 150.
My forecast for AAVE 2024 - 2025.
During the second wave, which is about to begin in October 2024, AAVE will only move by inertia. When Bitcoin rises to $100,000, AAVE will be in the 200-300 range.