Cardano price may be halved!

Cardano prices have plummeted in recent weeks following the fall of bitcoin. Although this digital currency is already far from its historical peak, one of the digital currency market analysts has predicted that Cardano may fall further and even halve its price.

To Report Benjamin Cowen, a well-known digital currency analyst, has said that new price targets could be set for Cardano if the downtrend intensifies.

“Looking at the Cardano / Bitcoin (ADA / BTC) chart, we can see that the pair is in the middle of a strong downtrend,” Kawn told his new analytics program 743,000 followers on his YouTube channel.

Cowan said that if the Cardano / Bitcoin currency pair returns to its lowest level close to the downtrend levels of 2018 with the price of 0.00000085 bitcoin or $ 0.25, this digital currency will continue to lose more than half of its value. .

He added:

We are now in a declining market. We know that altcoins in the declining market are completely disappearing. In addition to declining markets, the value of altcoins against bitcoins also declines in ascending markets. If Bitcoin falls below its price floor in this market, we may see another 55% drop in Cardano’s price. A 55 percent drop in Cardano’s current price will push the digital currency to about $ 0.25 or lower. In addition, the price may be adjusted by another 50%.

Kavan continued:

Do not think that such a thing is not possible. I remember the last downturn in the market, and I even started buying Cardano for $ 0.10, and at the time I thought I was smart. Then Cardano’s price dropped by 80%. You might look at the current price of Cardano and the $ 0.1 price I bought and say why are you complaining after all this growth? But at the time, with a drop of 80%, my purchase did not seem smart. People forget to lose [در بازار ارزهای دیجیتال] How horrible it can be.

At the time of writing, Cardano is trading at $ 0.54, down more than 82 percent from its all-time high of about $ 3.