Crypto Capital Venture founder Dan Gambardello took to social media platform X/Twitter to share an important message about Bitcoin and the outlook for altcoin markets ahead of the impending Bitcoin halving.
Crypto Capital Venture founder Dan Gambardello took to social media platform X/Twitter to share an important message about Bitcoin and the outlook for altcoin markets ahead of the impending Bitcoin halving.
He suggested that the cryptocurrency community should prepare for Bitcoin to go parabolic.
Bitcoin Halving Already Affects Market, According to Gambardello
Gambardello reminded his Twitter followers in the crypto community that the new Bitcoin halving event is just a few weeks away (scheduled for April).
However, the cryptocurrency trader tweeted that pressure from the Bitcoin supply shock is already starting to build. The effect of the upcoming Bitcoin halving is also being reinforced by spot Bitcoin ETF issuers sourcing Bitcoin from cryptocurrency exchanges: BlackRock, Fidelity, Ark Invest, VanEck and others (as Grayscale continues to sell Bitcoin) .
As previously reported, prominent Bitcoin maximalist Samson Mow also tweeted several times that he expects a Bitcoin supply shock and a Bitcoin demand shock to occur at some point after the halving occurs.
“Financial institutions look at altcoins”
“A stampede of bulls is approaching,” Gambardello concluded. He added that financial institutions are now starting to pay attention to altcoins. Giants Grayscale and BlackRock have already filed to launch Ethereum spot ETFs, but the Securities and Exchange Commission continues to delay its decision on the matter. Banking giant Standard Chartered expects approval to be issued on May 23.
The approval of the Ethereum ETF will potentially cause the price of ETH to skyrocket, as ETF issuers will also begin acquiring the second-largest cryptocurrency in large quantities. Crypto YouTuber Lark Davis believes Ethereum is likely to reach the $4,000 level (a prediction first made by Standard Chartered) in that wave of financial institutions buying Ethereum.
Additionally, Davis suggested that exchange-traded products based on altcoins other than Ethereum are likely to begin to emerge. In particular, he named the coins Dogecoin, Solana, Chainlink and Avalanche as the base. These ETFs could launch by the end of the year, Davis believes.
He mentioned the Franklin Templeton fund, which has been tweeting about Solana recently, and in an interview with Bloomberg, the fund representative stated that the cryptocurrency market could see more ETFs coming from them soon. In January, they launched a spot Bitcoin ETF, EZBC.
