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2024-02-09 22:00:21

Why Cardano (ADA) Is A Top Altcoin Pick In The Next Bull Run

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