Prominent analyst says Cardano (ADA)current price is a repeat of its 2019 downward pattern, adding that the coin could find its bottom against Bitcoin in Q3 2023.  Benjamin Cowen, a prominent crypto analyst, has warned that Cardano (ADA), the ninth-largest cryptocurrency, is repeating a 2019 downward pattern.  Notably, Cowen voiced this concern in a recent […] The post Top Analyst Forecasts Cardano (ADA) Could Find Its Bottom Against Bitcoin in Q3 2023  first appeared on The Crypto Basic.

Top Analyst Forecasts Cardano (ADA) Could Find Its Bottom Against Bitcoin in Q3 2023 

Prominent analyst says Cardano (ADA)current price is a repeat of its 2019 downward pattern, adding that the coin could find its bottom against Bitcoin in Q3 2023. 

Benjamin Cowen, a prominent crypto analyst, has warned that Cardano (ADA), the ninth-largest cryptocurrency, is repeating a 2019 downward pattern. 

Notably, Cowen voiced this concern in a recent strategy  session  focused on ADA. 

According to the analyst, ADA endured a tough time in the second half of 2019, when the coin’s price and other altcoins plummeted to new lows. 

“The second half of 2019 was probably the hardest part of the cycle because it wasn’t very exciting. You just watched the altcoin market slowly bleed out,”  Cowen said. 

Cardano Unable to Sustain Occasional Pumps

Although ADA recorded occasional price pumps during this period, the price gains faded almost immediately, resulting in a massive decline for the crypto asset, the analyst said. 

Interestingly, the analyst cited an instance where ADA enjoyed a 41% spike in the latter part of 2019, which saw its price move to $0.050 from $0.035. 

He also recounted another instance where ADA surged 40% from $0.041 to $0.058 in 2019. 

...

Read more