- Hedera shows long-term growth potential with signs of a multi-year bull market ahead.
- Recent strong volume suggests Hedera’s upward momentum may sustain in the coming months.
Alan Santana, a well-known crypto analyst on TradingView, has drawn attention to the crypto Hedera (HBAR) for its significant bullish potential. Santana thinks the asset has the potential to rise by more than 2,000% since Hedera’s increasing momentum is only starting.
“We cannot say that it is too late; our growth potential exceeds 2,000%, thus we never can say that.” Santana said, stressing that the state of the market right now is not nearly a lost chance.
Santana Highlights Hedera Signs of Recovery and Growth Potential
According to Santana’s analysis, Hedera has definitely started to show indications of recovery. Following a period of adjustment from March 2024 until the end of October, HBART finished a solid green week, therefore heralding a long-awaited change.
Comparatively to January 2023, Santana notes that this latest movement shows a “long-term higher low,” highlighting the possibility for continuous expansion. “We know the low is in,” he says, attributing his confidence to the consolidation of the larger market over past months.
Furthermore, Santana points out that the extraordinary performance of Bitcoin signals for the whole altcoin industry, including Hedera, to follow suit.
Santana’s hope also encompasses the general crypto market, which he characterizes as about to enter a bull market. “We were calling for a consolidation phase, the accumulation zone, late 2024,” he says.
Now that this expected period is here, he shows hope that the next year would offer notable green for HBAR, especially with traffic at its highest since April. Santana even sees the potential for another multi-year bull cycle as a result of Hedera’s explosive rise from 2020 to 2021, when it rose by more than 6,200% in just 623 days.
Meanwhile, reflecting a 2.07% increase over the last 24 hours and taking its market value above $2 billion, HBAR is trading at about $0.0598 at the time of writing, ranking 45th among all the cryptocurrencies by market cap.
Beside that, as reported by CNF, Canary Capital just filed for the first-ever Hedera (HBAR) spot ETF in more good news for Hedera. By providing direct access to HBAR, this ETF would avoid derivatives and provide a simplified route for conventional investors to engage in the market potential of Hedera.
Should approval be granted, this ETF may be a major catalyst for the general acceptance of HBAR and help to accentuate the asset’s positive view.