Analyst says ADA is the horse in this market cycle

On Sunday May 30th, prominent analyst Benjamin Cowen commented on ADA’s impressive price action during the current downtrend in a bull market.

Cowen tweeted:

$ ADA in my racehorse this market cycle. It was at $ 0.02 and is still at $ 1.60 today. I have bigger positions in $ ETH and $ BTC for risk management, but the numbers are simply undeniable $ ADA stands up. pic.twitter.com/JthPvleBGT

– Benjamin Cowen (@intocryptoverse) May 30, 2021

“ADA is a racehorse me in this market cycle. It was at $ 0.02 and it’s still at $ 1.6 today. I have larger positions at ETH and BTC to manage risk, but the numbers ADA provides are undeniable. “

According to TradingView data, ADA is trading at around $ 1.63, down 0.38% over the past 24 hours.

ADA / USD 1 day | Source: Tradingview

However, if you look at the time period to date (YTD), the ADA is up 790.86% against the USD.

ADA/USD YTD | Source: TradingView

In one Video Released on his YouTube channel on May 8, Cowen told viewers that ADA’s price could double after a major breakout against Bitcoin.

According to a report, he said:

“The highest rating ADA ever had for Bitcoin is here (0.0008 in 2018). If we move there, measured from current price, it will be another 105% … Given the idea that ADA could rise 105% to reach the top position globally over Bitcoin, that would put ADA in place. Where is / USD? It will actually put the price at a very modest $ 4.35 … We’re not saying it’ll get there in any way … We’re just saying, “Hey, it happened before.” And arguably, ADA has a lot more today to offer as 2017, 2018 ″.

Another analyst impressed with ADA is Michaël van de Poppe. speak that ADA is “one of the most active coins on the market”.

“This is really one of the best performing products out there. Strong drop, strong jump. Since then, the high has been building and consolidating before further gains are expected. The BTC couple has also developed well. “

ADA / USDT | Source: Michael van de Poppe

Van De Poppe said on 5/5 that he could foresee ADA reaching $ 5.

Given that Cardano’s ADA is one of the top performing coins in the top 20 by market cap and Cardano has one of the largest and most passionate communities, it may come as no surprise that the distributed platform Cryptocurrency Social Network Analytics ranks # 1 by LunarCRUSH:

Cardano shows an accelerated social and market activity, which catapults everything up to number 1 of the AltRank ™ @LunarCRUSH️????
24 hour activity
20.8% price change
26,883 social mentions
36,283,682 social engagementhttps://t.co/8c0DeFzFap $ ada #cardano @Cardano pic.twitter.com/PKptdWFYMo

– LunarCRUSH social listening for cryptocurrencies (@LunarCRUSH) May 30, 2021

“ADA shows that social + market activity is accelerating and everything is catapulted to the # 1 AltRank ™ spot on LunarCRUSH. 24 hour operation: Price change 20.8%, 26,883 social media mentions, 36,283,682 social interactions “.

On May 27th, IOHK, the main company developing the Cardano protocol software, announced that it was launching the first “Alonzo Blue” test network, a major milestone in its Cardano journey.

“We have now started rolling in a small, select group of SPOs and Plutus pioneers to lay the groundwork. To find out everything about the next 90 days and more about Alonzo White & Alonzo Purple, visit us on Cardano360 “, the platform notification.

Minh Anh

According to Cryptoglobe

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