Main navigation

Bitcoin (BTC), Cardano (ADA): Crypto Capital Founder Predicts Bulls' Return Based on This One Thing

Advertisement
Thu, 12/01/2023 - 12:29
Bitcoin (BTC), Cardano (ADA): Crypto Capital Founder Predicts Bulls' Return Based on This One Thing
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Crypto Capital Venture founder Dan Gambardello is optimistic about the return of bulls to the crypto market, the reason being that "bears are getting exhausted."

Advertisement

Bitcoin has started 2023 off on the right foot with a steady price increase over the last 12 days.

Traders betting on a slowdown in U.S. inflation drove the price of Bitcoin to its highest level in a month on Thursday.

The biggest cryptocurrency in terms of market value rose above $18,000 for the first time since Dec. 14. Bitcoin was trading up 4.3% at $18,197 as of the time of writing, according to CoinMarketCap data.

The surge in the Bitcoin price drove that of alternative cryptocurrencies, or "altcoins," higher. Most cryptocurrencies were trading in the green at the time of writing.

Related

Cardano's ADA was up 2.10% in the last 24 hours at $0.322. At the week's start, ADA suddenly jumped over 22%, buoyed by continued whale accumulation.

According to Santiment, an on-chain analytics firm, millionaire whale addresses purchased 217.2 million ADA at the start of 2023.

Investors await key releases

It is anticipated that Thursday's release of U.S. inflation data will reveal a slowing of inflation. According to economists surveyed by Dow Jones, the consumer price index might decrease by 0.1% in December.

Investors are hoping that the decrease will encourage the U.S. Federal Reserve to cut interest rates.

In a bid to rein in surging inflation, the Fed and other central banks have been hiking interest rates over the past year or so. These actions caused equities and cryptocurrencies to fall substantially in 2022.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD