Cardano

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<ul class="news-points"> 
 <li><strong>Benjamin Cowen predicted in a tweet today that ADA may enter into a depression phase in the coming months.</strong></li> 
 <li><strong>According to the analyst, ADA may also drop to 400 satoshis on the ADA/BTC chart.</strong></li> 
 <li><strong>At press time, ADA was changing hands at $0.2591 following a 24-hour drop of 1.62%.</strong></li> 
</ul> 
<p>The cryptocurrency trader and analyst Benjamin Cowen warned in a tweet today that Cardano (ADA) may enter into a depression phase. To add credence to his bearish outlook, the analyst referenced the altcoin’s price movements leading up to the previous <a href="https://coinedition.com/experts-encourage-accumulation-of-altcoins-ahead-of-bitcoin-halving/" rel="noopener noreferrer nofollow">Bitcoin (BTC) halving</a>, revealing that it had bottomed out 2 months prior to the last halving event.</p> 
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   <p lang="en" dir="ltr">Good chance <a href="https://twitter.com/hashtag/ADA?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#ADA</a> is about to enter the depression phase.<br><br>Remember, last cycle, <a href="https://twitter.com/hashtag/ADA?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#ADA</a> bottomed only 2 months before the halving.<br><br>It also spent the second half of 2019 going down (even before the pandemic) <a href="https://t.co/SL4CWQPmue" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/SL4CWQPmue</a></p>— Benjamin Cowen (@intocryptoverse) <a href="https://twitter.com/intocryptoverse/status/1695227584999489650?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 26, 2023</a> 
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<p>Meanwhile, Cowen also predicted that ADA would dramatically weaken against <a href="https://coinedition.com/what-is-bitcoin-everything-you-need-to-know/" rel="noopener noreferrer nofollow">the market leader Bitcoin (BTC)</a> as well. In another post, he predicted that ADA/BTC could drop to 400 satoshis in the coming months.&nbsp;</p> 
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   <p lang="en" dir="ltr">A few months ago, I said <a href="https://twitter.com/hashtag/ADA?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#ADA</a> / <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BTC</a> would likely go t…</p> 
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<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/cardano-ada-likely-to-bottom-out-in-the-coming-few-months/">Cardano (ADA) Likely to Bottom Out in the Coming Few Months</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Cardano (ADA) Likely to Bottom Out in the Coming Few Months

Coin Edition

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