Bitcoin Targets $204,000 in Next Bull Cycle

Dan Gambardellofounder cryptocurrency Capital Venture predicts that Bitcoin price will rise to $204,000 in the next bull cycle.

Technical analysts say the coming market recovery will also push the cryptocurrency market capitalization to a record $10 trillion.

The total cryptocurrency market cap is about to reach $10 trillion:

Bitcoin = $204,000
Ethereum = $20,000
Ripple = $18
Ada = $11 pic.twitter.com/OyNh4Sd9dQ

— Dan Gambardello (@cryptorecruitr) November 3, 2023

Gambardello predicted this in a recently uploaded video, explaining how Bitcoin prices have developed cyclically over the past few years.

The cryptocurrency analyst shared a 2018 Bitcoin chart, analyzing how the leading cryptocurrency will develop. His speculative analysis predicts BTC’s two highest points at $90,000 and $281,000.

According to Gambardello, Bitcoin During the recent bull run, Bitcoin entered the $90,000 area, although it has yet to reach its peak.

With prices currently in a bear market and preparing for the next bull cycle, the founder of Crypto Capital Venture expects BTC to reach his projected $281,000 area in 2018.

Using more technical indicators, Gambardello explains how Bitcoin can be used to predict the cryptocurrency market.

He noted that during previous bull cycles, Bitcoin’s dominance declined, a phenomenon characteristic of crypto bull markets.

Therefore, he explained that the decline in Bitcoin dominance heralds the arrival of altcoin season.

Therefore, he predicts that when Bitcoin dominance drops to 40%, the price of the pioneer cryptocurrency will be around $204,000, reflecting a nearly 500% increase in BTC from current prices.

Gambardello further revealed that this is in line with his original Bitcoin prediction and believes that the prediction will be carried out with reasonable accuracy.

Gambardello predicts that, beyond Bitcoin, Ethereum will reach 25%, taking the leading altcoin market cap to a record $2.5 trillion.

He said Ethereum’s rise will be influenced by institutional cash flow and the businesses and businesses built on its network.

He believes this will cause Ethereum prices to rise to $20,000 in the next bull cycle.