Altcoins
Why Cardano (ADA) Is One of the Top Altcoin Picks in the Next Bull Run
Dan Gambardellothe founder of Crypto Capital Venture, presented a bullish narrative for Cardano as the next bull run. Based on its analysis, the crypto token has the potential to be one of best performing parts during this period.
History could repeat itself for Cardano
In a video posted on his YouTube channel, Gambardello mentioned that Cardano is currently in the same technical area as it was in the last two market cycles before the Bitcoin halved. He further noted that on both occasions, ADA managed to exceed expectations and ended up hitting a new all-time high (ATH) in the process.
Specifically, ADA would have seen a 2,700% gain to reach its current ATH of $3 after Bitcoin’s halving in 2020. Gambardello believes this time will not be different although ADA is significantly down from its ATH. Although he tried to be conservative in his price predictions, he raised the possibility of Cardano seeing an 1,800% gain before reaching $10 during the next bull run.
Interestingly, this is not the crypto analyst’s most optimistic prediction so far. He once declared that ADA Could Reach $11 with a market capitalization of $400 billion. Then, he hinted that ADA could enjoy a similar run as ETH did during the last bull run due to its DeFi features.
This time, he once again did the ADA and ETH Comparisonnoting that the first reaching a market cap of $350 billion during the next bull run is still much lower than the ETH market cap during the last bull run.
ADA price at $0.54 | Source: ADAUSD on Tradingview.com
Bitcoin Halving Is Key to Unlocking the Next Bull Run
Before now, Gambardello had hinted that Bitcoin Halving would relaunch the next bull run. In his recent video, he once again suggested that the next bull run would begin after the Halve in April, noting that bull cycles always take place after this event. He further pointed out that the Bitcoin chart also indicated that the next bull run was imminent.
According to the crypto analyst, “a simple zoom out of a Bitcoin chart” shows that there are plenty of reasons to be optimistic. Altcoins are not left out, as Gambardello also claimed that altcoin charts like ADA and ETH suggested that something was preparing to happen, implying that a massive rally was on the horizon.
Meanwhile, Gambardello was not only bullish on the crypto market from a technical analysis perspective. He referred to fundamental principles like Recent DEVELOPMENTS around the Spotting Bitcoin ETFswhich show increased demand for the flagship crypto token, Bitcoin.
Featured image from CryptoNewsZ, chart from Tradingview.com