There is a realistic Cardano (ADA) forecast if the Crypto Bear Market continues, according to analyst Benjamin Cowen.

Well-known crypto analyst Benjamin Cowen is offering several target prices for Cardano (ADA) if the bear market for digital assets deepens.

In a new strategy session, Cowen told 743,000 YouTube subscribers that he is seeing Cardano against Bitcoin (ADA/BTC) and the pair is in the midst of a strong downtrend.

According to Cowen, he sees Cardano losing more than half of its value if the ADA/BTC pair hits the 2018 bear market of 0.0000085 BTC or $0.25 again.

“Look, we are in a bear market. We know that altcoins are completely ruined in a bear market. We know that the Bitcoin value of these altcoins can collapse in a bear market and also collapse in a bull market. If Bitcoin hits the bottom of its bear market valuation in the ADA/BTC valuation, we’ll see another 55% drop in the ADA valuation. A decline of 55% from the current price of ADA would cost ADA around $0.25. So another 50% fix.

Don’t say it can’t happen. i lived [the last bear market] I started buying ADA for $0.10 and I thought I was smart, but it’s down 80%. You can look at it and say, ‘$0.10 ADA, why are you complaining?’ I didn’t feel very smart at the time because it was down 80%. People forget how cruel this can be.”

At the time of writing, ADA is trading at $0.52, down more than 82% from its all-time high of around $3.


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Disclaimer: Opinions expressed in the Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, and The Daily Hodl is not an investment advisor. Daily Hodl is involved in affiliate marketing.

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