Charles Hoskinson Criticizes Veteran Trader Peter Brandt
Charles Hoskinson – The co-founder of Cardano harshly criticized the astute trader for bringing up the dangerous position ADA is currently in from a technical analysis. Charles Hoskinson has also mentioned how crucial it is to take the assets’ intrinsic value into account.
Peter Brandt wrote a message on his personal Twitter blog that set off the argument. Given the protracted decline and the descending triangle formation, he did not break down the chart he presented, but it was obvious that he only saw problems for ADA.
Along with the dismal comment “There is nothing to comment about,” Brandt also included a descending triangle, which is probably what started the argument.
Charles Hoskinson retweeted Brandt’s graphic
Charles Hoskinson retweeted Brandt’s graphic and remarked that “chart people” overlook the fact that assets like Cardano have a complete “universe” behind them.
Each financial asset’s performance is influenced by key variables such as supply chains, nations, economies, and central banks. According to Hoskinson, the aforementioned factors are the only ones that affect the market. Most likely, the statement was directed at technical analysts, who frequently disregard basic issues while evaluating the performance of certain assets.
However, Brandt himself prefers to chart rather than actually analyze projects, which is why some readers in the comment area below the post felt Hoskinson’s response was excessive.
Cardano’s market performance has been difficult over the past several months, largely as a result of the general attitude toward the digital asset sector. With the Vasil update’s adoption, a reversal was anticipated. However, no significant jumps in volatility were observed during the past few days.
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