In what many are calling the calm before the storm, crypto analysts are now warning investors not to be fooled by the current price levels. Despite the recent surge in interest and decent price action across Bitcoin and altcoins, experts say the real bull market aka “Gigachad Bull Run” hasn’t even started yet.
In what many are calling the calm before the storm, crypto analysts are now warning investors not to be fooled by the current price levels. Despite the recent surge in interest and decent price action across Bitcoin and altcoins, experts say the real bull market aka “Gigachad Bull Run” hasn’t even started yet.
Cardano founder Charles Hoskinson believes we are on the verge of what he calls the “Gigachad Bull Run.” In a recent interview, he said,
The data supports the theory that the market is still in its early stages. The total crypto market cap, which includes both Bitcoin and altcoins, is only 25% above its all-time high from the last cycle. That’s a strong indicator that the market is still in its early stages of growth.
But what’s even more significant is that the altcoin market cap hasn’t yet crossed its previous peak, hinting that altcoins are still undervalued and gearing up for a breakout.
Ethereum continues to stay as the most important altcoin to watch. that a period of consolidation may be underway, with indicators like the MACD showing momentum cooling off. However, historical data shows that similar periods in the past have been followed by explosive bull runs.
Technical models also hint that Ethereum is coiling up, and once it breaks out of this current resistance zone, the rally could be swift. The $3,300 to $3,500 range is a possible consolidation area before the next big move.
It’s currently hovering below its all-time high, and the analyst said that once it breaks the critical resistance zone between $4,000 to $4,100, the next leg of the bull market could begin, possibly pushing ETH towards a $5,800 target.
