Benjamin Cowen, a famous crypto analyst, predicts an unexpectedly bleak future for Cardano’s ADA currency. According to a recent tweet from Cowen, ADA will have a prolonged “depression phase” that will start when its price drops below $0.24. Until the projected resumption of quantitative easing (QE), which Cowen predicts may happen somewhere in 2024, this depressing period is predicted to last.
Cowen, who is renowned in the bitcoin industry for his sharp observations, delivered a thorough analysis backed by an eye-opening graphic. He estimated that Cardano’s depressive period may last around nine months, lasting until the summer of 2024.
https://x.com/intocryptoverse/status/1700923685836632272?s=20
Cowen has previously raised concerns over ADA. He had warned at the coming decline of ADA earlier in September, saying that it was due to aggressive liquidity drain rather than just the crypto industry. Cowen did, however, provide some encouragement by stressing that liquidity will ultimately return, reviving the cryptocurrency market.
ADA for Cardano is now selling at $0.246 per coin. According to Cowen’s analysis, the digital asset is firmly established in the initial phases of the anticipated downturn period. As investors keenly watch ADA’s performance in search of signs of a rebound on the horizon, this discovery has sparked arguments and worries among the cryptocurrency community. Cardano Price Prediction, News, and Cardano
