- Analyst Dan Gambardello says “the worst of crypto is now over.”
- The analyst refers to earlier data demonstrating BTC is following the same cycle of a bear market.
- However, Gambardello is concerned that the fear is crossing boundaries.
Crypto YouTuber Dan Gambardello posted a new video titled “CRYPTO ALERT! “Moment of Reckoning” where he said that according to historical data, he can safely assume that Bitcoin along with all the other altcoins have fallen into the bear market bottom range, hence, he predicts that the worst is finally over.
Gambardello pulls up data from 2015 and highlights that the difference between the 2015 bear market low when compared to 2016 Bitcoin halving was 553 days. Meanwhile, the gap between the 2018 bear market low to 2020 BTC halving was 532 days. Currently, in 2022, we stand roughly 519 days from the Bitcoin halving in 2024.
Halving is an event that occurs after every 210,000 blocks are minted usually in four-year intervals, the Bitcoin miners are rewarded with a block that is halved. The YouTuber claims that this time is a “moment of reckoning” that the market must learn from. He shares:
Everything that has happened this year with LUNA, Celsius, FTX, the scams, the ponzis, the overleveraging, we’re feeling the effects of that right now. But there’s a certain line that emotions shouldn’t cross when we’re experiencing a bear market which is being crossed.
Gambardello adds that the market is currently ruled by fear which is reflected in the headlines that are falsely predicting how low crypto can go without referring to proper data.
The analyst then revisits the data and charts for 2022 and confirms that despite all the chaos in the market surrounding crypto companies, Bitcoin is following the cycle it has always followed during bear markets.
Addressing news articles promoting “crypto is now dead” messages, the Youtuber reminds his audience that Bitcoin has been called “dead” multiple times over the course of the last few years, including the time in 2015 when BTC was truly at its low. However, it recovered.
Hence, Crypto Capital Venture remains “unemotional” yet confident in Bitcoin due to proven data and historic facts.
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