Bears continue to dominate the cryptocurrency market. The leading crypto Bitcoin is somehow unable to stay above the psychological level of $20,000. Investors and traders wonder how long the bear market will continue. Crypto Capital Venture founder Dan Gambardello explained what he thinks will be a bullish macro signal. Additionally, he shared five altcoin projects.
“This silence is the bullish signal we have been waiting for for the Bitcoin and altcoin market!”
cryptocoin.comAs you follow, the crypto market has not been able to break out of the hawkish Federal Reserve’s influence. The Fed does not compromise its stance in order to control the inflation, which has reached historical highs and has become stubborn. This, in turn, raises interest rates and hinders the recovery in risk assets. Naturally, the most affected market remains the crypto market. Leading altcoin Ethereum’s Merge, Cardano’s Vasil Hard Fork, the wind also surrendered to silence after a while. Investors and traders are wondering how long this situation will last.
In this environment, Dan Gambardello says now, the bottom of the bear market for crypto will be defined. Along these lines, it explains the bullish macro signal for crypto that the community has been waiting for. This bullish signal is a sense of calm silence that will become increasingly “audible” as “weak hands” emerge from crypto. Many other influencers repeat the same thesis from time to time. In this context, it says, “The more paper hands fall, the better for the crypto market in general.” Because according to them, in this way, it will be possible for the “diamond hands” to pick up what the previous one dropped. Gambardello shared the following on Twitter:
Now is when we define the month-long bottom of the bear market. During this time, this place will become increasingly quiet as people exit crypto. This silence is the bullish macro signal we’ve been waiting for. Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), Ripple (XRP), COTI and WMT.
According to analysts, the bottom of the bear market is likely to last for months.
Judging by Gambardello’s tweet, it’s possible that the bottom of the bear market could last for months. Meanwhile, in early August, the popular crypto analyst on Twitter by the nickname ‘Rekt Capital’ shared that historically, the bottom of the Bitcoin bear market will reach from the fourth quarter of 2022 until the next Bitcoin halving, which is scheduled to take place in April 2024. He shared data that in 2015 and 2018 Bitcoin bottomed out 517-547 days before halving.
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