Crypto Capital Founder Predicts Return of Bulls Based on This Thing

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Crypto Capital Venture founder Dan Gambardello is optimistic about bulls returning to the crypto market, with the rationale being that “bears are running out.”

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

#Bitcoin hitting $18,000#Cardano looking for sequel#Avalanche scores partnership with Amazon

Not a bad day for crypto. Bears are running out. Go crypto bulls! pic.twitter.com/2P8UhBuE3x

Dan Gambardello (@cryptorecruitr) January 12, 2023

Traders betting on a slowdown in US inflation pushed the price of Bitcoin to its highest level in a month on Thursday.

The largest cryptocurrency by market value topped $18,000 for the first time since Dec. 14. Bitcoin was trading up 4.3% at $18,197 at the time of writing, according to data from CoinMarketCap.

The surge in the price of Bitcoin has pushed up that of alternative cryptocurrencies, or “altcoins”. Most cryptocurrencies were trading in the green at the time of writing.

Cardano’s ADA is up 2.10% in the last 24 hours at $0.322. At the start of the week, the ADA suddenly jumped more than 22%, supported by the continued accumulation of whales.

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

Investors await key releases

Thursday’s release of US inflation data is expected to show a slowdown in inflation. According to economists polled by Dow Jones, the consumer price index could fall by 0.1% in December.

Investors hope the drop will prompt the US Federal Reserve to cut interest rates.

In an effort to rein in soaring inflation, the Fed and other central banks have raised interest rates over the past year or so. These actions have caused stocks and cryptocurrencies to drop significantly in 2022.

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