Why Cardano (ADA) Is A Top Altcoin Pick In The Next Bull Run
09 Février 2024 - 11:00PM
NEWSBTC
Dan Gambardello, the founder of Crypto Capital Venture, has laid
out a bullish narrative for Cardano going into the next bull run.
Based on his analysis, the crypto token has the potential to be one
of the best-performing coins during that period. History
Could Repeat Itself For Cardano In a video posted on his YouTube
Channel, Gambardello mentioned how Cardano was currently in the
same technical area it was in the last two market cycles before the
Bitcoin Halving. He further noted that on those two occasions, ADA
managed to surpass expectations and ended up clocking a new
all-time high (ATH) in the process. Related Reading: Crypto
Analyst Predicts Bitcoin To $100,000 But Says Cardano Is Dead,
Here’s Why Specifically, ADA is said to have seen a 2700% gain on
its way to its current ATH of $3 after the 2020 Bitcoin Halving.
Gambardello believes that this time will be no different despite
ADA being significantly down from its ATH. Although he was trying
to be cautious with his price predictions, he raised the
possibility of Cardano seeing an 1800% gain on its way to $10 in
the next bull run. Interestingly, that isn’t the crypto
analyst’s most bullish prediction so far. He once stated that ADA
could rise to $11 at a market cap of $400 billion. Then, he hinted
that ADA could enjoy a similar run as ETH did in the last bull run
due to its DeFi functionalities. This time around, he once
again made the ADA and ETH comparison, noting that the former
hitting a market cap of $350 billion in the next bull run is still
way less than ETH’s market cap in the last bull run. ADA
price at $0.54 | Source: ADAUSD on Tradingview.com Bitcoin Halving
Is The Key To Unlocking The Next Bull Run Before now, Gambardello
had hinted that the Bitcoin Halving was going to kickstart the next
bull run. In his recent video, he once again suggested that the
next bull run was going to start after the Halving in April, noting
how the bull cycles always take place after this event. He further
highlighted how the Bitcoin chart was also indicating that the next
bull run is imminent. Related Reading: Chainlink Breeds New
Whales As $49.9 Million Accumulation Spree Cause Prices To Surge
According to the crypto analyst, “a simple zoom out on a Bitcoin
chart” shows that there is so much to be bullish about. Altcoins
are not left behind, as Gambardello also claimed that the charts of
altcoins like ADA and ETH suggested that something was getting
ready to happen, implying that a massive rally was on the
horizon. Meanwhile, Gambardello wasn’t only bullish on the
crypto market from a technical analysis perspective. He alluded to
fundamentals like recent developments around the Spot Bitcoin ETFs,
which show increased demand for the flagship crypto token,
Bitcoin. Featured image from CryptoNewsZ, chart from
Tradingview.com
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