The Securities and Exchange Commission’s decision to drop its lawsuit against Ripple Labs is a major moment for the crypto market and signals the beginning of a potential record-breaking bull market, according to crypto analyst Dan Gambardello.
The SEC’s December 2020 charges against Ripple for allegedly conducting a $1.3 billion unregistered securities offering have finally been resolved, with Ripple CEO Brad Garlinghouse declaring victory.
“Dip Then Rip” Pattern Points to Massive Bitcoin Upside
Bitcoin’s current price correction follows a pattern that Bitwise Asset Management calls “dip then rip,” according to Gambardello’s analysis.
This phenomenon describes Bitcoin’s tendency to drop sharply when equity markets fall more than 2% in a day, but then rebound dramatically in the following year.
Source: X
Gambardello highlighted comments from Bitwise’s CIO, who recently stated that “Bitcoin should be at $200,000 today” and predicted that “the nu
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