Token

Cardano

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Prominent crypto analyst&nbsp;<a href="https://x.com/intocryptoverse/status/1703909914379276646?s=20" rel="noopener noreferrer nofollow">Benjamin Cowen</a>, renowned for his keen observations within the industry, presents an invaluable guide to <a href="https://u.today/cardano-founder-ends-speculation-on-ethereum-and-sec-conspiracy-against-ripple-and-xrp" rel="noopener noreferrer nofollow">Cardano (ADA)</a> holders, offering a thorough analysis of what lies ahead in 2023. In an illuminating revelation, Cowen has unveiled crucial information about the current status of ADA, shedding light on the future trajectory of this prominent altcoin. 
The analysis reveals that a $100 investment made at any point in&nbsp;<a href="https://u.today/cardano-ada-movement-determined-by-only-one-line-details" rel="noopener noreferrer nofollow">Cardano token</a> throughout 2023 would now be valued at a mere $2,305, reflecting a substantial 25.64% decline. This downward trend, per Cowen's discernment, mirrors patterns seen in previous pre-halving years, demonstrating that ADA's path is not unique but rather in alignment with broader altcoin trends. 
<blockquote> 
 If you invested $100/wk into <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> in 2023, your $3100 investment would now be worth only $2,305 (-25.64%).In pre-halving years, most altcoins follow this similar path.Altcoins tend to do well once liquidity returns, and that is unlikely to happen in 2023. <a href="https://t.co/9GzYhwSb3q" rel="noopener noreferrer nofollow">pic.twitter.com/9GzYhwSb3q</a>— Benjamin Cowen (@intocryptoverse) <a href="https://twitter.com/intocryptoverse/status/1703909914379276646?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 18, 2023</a> 
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The forecast for&nbsp;<a href="https://u.today/cardano-ada-scaling-focus-indicated-by-analyst" rel="noopener noreferrer nofollow">ADA</a> continues as Cowen anticipates an extended depression for the token. This phase is expected to take hold once ADA's price dips below the $0.24 mark and is projected to persist until the arrival of quantitative easing in accordance with U.S. Fed policy, a development Cowen speculates might not materialize until around summer 2024. 
This is not the first instance of the analyst sounding the alarm for ADA. In September, he subtly hinted at an impending downturn, attributing it to a substantial withdrawal of liquidity. 
<img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="1fa296e4-fc87-4f2a-8e65-8fde9f49222e" src="https://u.today/sites/default/files/inline-images/ADA_1Y_graph_coinmarketcap%20%282%29.jpeg">ADA to USD by <a href="https://coinmarketcap.com/currencies/cardano/" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
At the time of writing, Cardano's ADA is trading at $0.256 per token, marginally above the critical threshold of $0.24, which Cowen has identified as a potentially irreversible point of no return for&nbsp;<a href="https://u.today/cardano-presents-roadmap-milestones-with-50-million-ada-tokens-at-stake" rel="noopener noreferrer nofollow">Cardano</a> enthusiasts.

Cardano Token Holders' Guide to Rest of 2023: What ADA Price History Reveals

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