JasmyCoin Soars 225%, Will the Positive Trend Continue?

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Bittime -  JasmyCoin, acrypto, has just experienced an incredible price spike. The coin's price surged 225% after breaking a key resistance level, signaling potential continued upside.

What is JasmyCoin

JasmyCoin (JMY) is a Japanese crypto project launched in 2016. This project aims to build a decentralized data ecosystem that connects Internet of Things (IoT) devices with blockchain.

JasmyCoin was founded in 2016 by Hara Kazumasa, an experienced technology entrepreneur in Japan. The first JMY token sale was held in 2017 through an Initial Coin Offering (ICO). Since the beginning, Jasmy has focused on developing technology to integrate IoT data with blockchain.

In 2018, Jasmy partnered with Sony to develop a decentralized data platform for the entertainment industry. In 2019, Jasmy partnered with NTT Communications to provide blockchain-based data security services.

Jasmy launched the platform "Jasmy Platform" in 2020 which allows users to share and sell their data securely. In 2021, Jasmy partnered with insurance company Sompo Japan Nipponkoa to develop blockchain-based insurance products. Jasmy launched the JMYT token in 2022 which focuses on utility in the Jasmy ecosystem.

Reasons for JasmyCoin Rising

JASMY's price surge was triggered by a significant breakout identified by CryptoBusy analysts last December. At that time, JasmyCoin is expected to experience a substantial increase after entering the accumulation zone.

Currently, the price of JasmyCoin is at $0.017916, an increase of 52.74% in the last 24 hours as of February 23, 2024 with a trading volume reaching $1.5 billion. This increase sparked both excitement and vigilance among investors and market analysts. 

The question that arises is: is this spike just temporary or marks the start of a sustainable upward trend?

Some indicators to pay attention to in this case are:

• 1. RSI (Relative Strength Index). JasmyCoin's RSI valueis currently at 95.67, approaching the overbought level which indicates a potential price correction.
• 2. KST (Know Sure Thing). The one-week KST indicator shows strong positive momentum, supporting bullish sentiment.
• 3. MACD (Moving Average Convergence Divergence). One-week MACD shows a mild positive trend, further strengthening the optimistic outlook.

Although these indicators are positive, the high RSI raises concerns about a potential short-term downside. Therefore, investors need to be careful and consider possible market fluctuations.

JasmyCoin's price surge not only attracted new investors but also increased scrutiny from financial analysts. The market is monitoring the performance of this coin closely to see if the current growth trend can be maintained.

Although JasmyCoin's recent performance is impressive, it is important for investors to remain vigilant and make informed decisions based on comprehensive market analysis.

What Will JasmyCOin Look Like in the Future?

Predicting the future price of a crypto asset like JasmyCoin is very difficult and no one can give a definite answer. Because, the future of JasmyCoin is still uncertain and depends on various factors, including technology adoption, government regulations, and competition in the blockchain industry.

However, based on technical and fundamental analysis, here are several things that need to be considered to estimate JasmyCoin's future potential.

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Supporting Factors for JASMY Coin Price Increase

There are four factors that need to be considered to predict an increase in the price of crypto tokens in general and JasmyCoin in particular, namely the technology and usability of the token, partnerships built, listing on major exchanges, and market sentiment towards the token. The following is a more complete explanation.

1. Technology and Usability

JasmyCoin has an interesting technology that focuses on integrating IoT data with blockchain. If adoption of this technology increases, demand for JasmyCoin has the potential to increase.

2. Strategic Partnership

Jasmy has several strategic partnerships with large companies such as Sony and NTT Communications. This partnership can encourage the use of Jasmy technology and increase the value of the coin.

3. Listing on the Main Exchange

Currently JasmyCoin is not yet listed on major crypto exchanges such as Coinbase or Binance. Listing on these exchanges could increase JasmyCoin's liquidity and exposure, potentially driving the price up.

4. Market Sentiment

In general, if crypto market sentiment is positive, then the price of JasmyCoin also has the potential to rise.

Factors to Watch Out For

Meanwhile, the factors that must be considered in JasmyCoin to see its future predictions are:

1. Market Correction

The crypto market is prone to sharp price corrections. If a correction occurs, the price of JasmyCoin may also fall.

2. Regulation

Government regulation of cryptocurrencies could negatively impact the price of JasmyCoin.

3. Competition

There are many other crypto projects that offer similar solutions to Jasmy. This competition may hinder the growth of JasmyCoin.

4. Technical Performance

Technical analysis shows the RSI indicator is high, indicating potential overbought and price correction.

How to Buy JASMY on Bittime

After knowing what JASMY is and how it works, are you interested in buying and investing in this crypto asset? You can do it at Bittime. JASMY tokens are available on Bittime in the  JASMY IDR pairing. 

 Below is a guide on how to buy JASMY tokens on Bittime. 

1. Register an account at Bittime using an active email. 
2. Complete the identity verification process.  
3. Once the account is verified, open the Bittime application.
4. Select the Market menu or click the graphic icon. 
5. Select IDR pairing to buy JASMY with Rupiah.
6. Click 'Buy'.
7. Select the order type to use. Limit orders, market orders and stop orders are available.
8. Enter the nominal rupiah to buy JASMY.
9. Click the 'Buy JASMY' button. 
10. A notification pop up will appear. Read it carefully and click 'Confirm'. 
11. Enter the six digit Transaction PIN.
12. The application will display a successful order notification. 

Complete guide on how to buy JASMY, click  here .

Apart from buying JASMY tokens, you can also buy various crypto assets such as BTC, ETH, SOL, ADA, AVAX, DOGE, and many others. Don't forget, keep monitoring ORDI, BTC, ETH, SOL price chart movements today to find out crypto market trends on Bittime. 

Crypto asset buying and selling transactions on Bittime are easy, safe and instant. Bittime is officially registered and supervised by Bappebti and Kominfo.

Also Read: 

Why the Price of Jasmy Coin (JASMY) Exploded: An In-Depth Look at the Crypto Renaissance in Japan

What is JasmyCoin? The Japanese Bitcoin that Rocked the Crypto World

JasmyCoin Price Increases Dramatically, Here's the Analysis and Reasons!

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DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.