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Cardano (ADA) Hits A  Stage Where It Can Only Go Up-Experts

Manoj Nair




The crypto sector is reeling under the worst episode of bearish winter. The situation can be attributed to several negative macroeconomic factors. Most crypto assets’ values have been eroded, and Cardano is one of the most volatile crypto assets in the present crypto mayhem. In one week, the Cardano (ADA) has tanked by 15% in the past one week and in the past 24 hours, it has fallen by 5% and is currently trading at $0.3668.

However, some experts are betting their money on Cardano (ADA), and one such expert is Michael van de Poppe, the CEO of Eight Global and a prominent crypto analyst. He feels that Cardano ultimately hit the critical support level when Cardano prices started improving in 2021. He opines that the current price is a perfect launching pad for investors to go long on $ADA.

Why Cardano (ADA) Besieged?

It is not ADA, but the whole crypto sector is stressed for many reasons. Negative pressures have besieged the world economy, and it is also affecting the crypto sector. The latest CPI data has revealed that the inflation in the U.S. is worse than expected. The Fed officials have warned the U.S. household and the business community that there is more pain and pathos in store for the future. The Fed will be forced into quantitative tightening and interest rate hikes. The insufficient inflation data will almost certainly cause the Fed to administer the bitter pill.

However, this could lead to a bout of recession which is the last thing the economy wants, especially after the pandemic.

Cardano(ADA) Strong Fundamentals

However, many experts believe that the economics of Cardano (ADA) is excellent and robust. Yevhen Karpenko of DefiYield thinks that there are factors that qualify Cardano as a strong candidate in the long run. Yevhen also believes that the Ouroboros consensus mechanism makes Cardano more decentralized than other cryptocurrencies. The analyst also revealed that Cardano has more than 1500 validator pools.

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