Crypto Market’s Next Bull Run May Be Its Best Cycle: Analyst
The analyst Dan Gambardello predicted in his latest analysis that the next bull cycle may be the cryptocurrency market’s most impressive run to date given all of the numerous bullish developments that have taken place during this bear market. Forming the basis of his extremely bullish outlook is his belief that the law is on the cryptocurrency community’s side.
The analyst highlighted Ethereum (ETH) and Ripple (XRP) as cryptocurrencies to watch in the next bull run. His focus on these two altcoins was driven by Ripple’s slight upper hand against the U.S. Securities and Exchange Commission (SEC) and the latest ETH Spot Exchange Traded Fund (ETF) approvals that have been filed by reputable fund managers.
Nevertheless, Gambardello warned that the cryptocurrency market is “respecting the cycles”, which is why the list of bullish news events have not had the desired sustained effect on prices within the market. In addition, he speculated that the market is not in a bull cycle yet, and is currently in an accumulation phase.
Adding to his bearish thesis, the analyst warned that there is still the possibility that the price of Bitcoin (BTC) may drop to $21K in the coming weeks. For this bearish thesis, Gambardello referenced the market leader’s price movements leading up to historic halving cycles. If BTC’s price does drop in the near future, it could result in prices across the market declining as well.
Towards the end of the video, Gambardello pondered at the possibility of market manipulation by large market players, who may be compressing prices and accumulating in anticipation of the next bull run. Given the surge in ETF applications over the past few months, it is fair to speculate that fund managers may be attempting to increase their exposure to cryptocurrencies.
This speculation surrounding institutional investors’ involvement in the market’s current sideways movement is supported by the market’s resilience, and victories, against the SEC over the past few months. Overall, Gambardello concluded that the introduction of large market players and the support of the law could lead to meteoric price surges in the next bull cycle.
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