Cryptocurrency analyst Crypto Capital Venture recently discussed the current state of the crypto market and expressed his expectations for Bitcoin and altcoins. In a recent video, analysts discussed the importance of zooming out on Bitcoin charts to get a broader perspective on market trends.
According to the analyst, examining a zoomed-out Bitcoin chart can provide a roadmap for understanding the crypto market as a whole. Bitcoin's roadmap remains important and shows bullish trends even for those who invest primarily in altcoins.
Analysts discussed the importance of this moment in the market cycle, specifically the Bitcoin halving event. Similar to previous market cycles, analysts noted that Bitcoin is gearing up for the next bullish cycle, which typically takes four years for the market to reach current levels.
Additionally, the analyst discussed the impact of Bitcoin's performance on altcoins, noting that Bitcoin's bullish move could have a positive impact on the broader crypto market. The analyst mentioned specific altcoins such as Cardano (ADA) and Ethereum (ETH) and explained the importance of considering historical data and market trends when evaluating potential profits.
Cardano (ADA) price reaches ATH
Looking back at ADA's current position, which is 500% below its all-time high, especially at a time when ADA was in a similar technical position just below $1 and people were questioning whether it would reach that milestone again. pointed out similarities with past cycles. It exceeded expectations at the time, rising more than 2,700%. Currently, ADA is around 50 cents, with an all-time high of $3, so it has the potential to rise about 500%, reaching $7-10 in a speculative scenario.
By comparison, Ethereum presents a different scenario, with less room to rally to all-time highs. Ethereum is currently about 90% off its peak, suggesting more modest gain potential compared to ADA. However, analyzing altcoins such as Avalanche, Solana, and Polkadot is more difficult due to limited historical data, and it is essential to consider factors such as market capitalization trends and distance from all-time highs. .
