Crypto News– Dan Gambardello, the founder of Crypto Capital Venture, has put forth a bold prediction regarding Bitcoin’s price in the upcoming bull cycle. According to this technical analyst, Bitcoin is poised to reach a substantial price point of $204,000, and this rally will also propel the overall cryptocurrency market cap to an unprecedented milestone of $10 trillion.
Bitcoin Price Projection in the Next Bull Cycle: Aiming for 204,000 Dollars, Says Technical Analyst
Gambardello shared his insights in a recently posted video, where he delved into Bitcoin’s historical price behavior over the past years. He referenced a Bitcoin chart from 2018 to illustrate how the flagship cryptocurrency has evolved. His speculative analysis projected two significant peaks for Bitcoin: one at $90,000 and another at $281,000.
During the last bull run, Bitcoin approached the $90,000 range, though it didn’t reach its projected peak. Currently, in a bear market and preparing for the next bull cycle, Gambardello anticipates that Bitcoin will indeed attain the $281,000 range he foresaw in 2018.
Gambardello also employed various technical indicators to explain how Bitcoin’s dominance can be used to predict the broader cryptocurrency market. He highlighted that in previous bull cycles, a decrease in Bitcoin dominance was a common characteristic of crypto bull markets. Therefore, he reasoned that a declining Bitcoin dominance signifies the arrival of an “all season.”
Consequently, he projected that when Bitcoin dominance falls to around 40%, the price of the pioneering cryptocurrency will likely reach the $204,000 mark, marking an impressive nearly 500% increase from its current price. Gambardello expressed confidence that this projection aligns with his original Bitcoin prediction and will unfold with a reasonable degree of accuracy.
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