Cardano (ADA) Price Plummets as Benjamin Cowen’s Bearish Prediction Comes True

• Benjamin Cowen predicted that ADA would lose dominance to Bitcoin.
• ADA/BTC is currently at 495, almost in line with the analyst prediction.
• ADA has dropped a significant 7% in the past seven days.

Crypto analyst and YouTuber Benjamin Cowen’s bearish prediction about Cardano has materialized. The blockchain network’s native token, ADA, dropped 3.75% in the past 24 hours as Bitcoin (BTC) fell below $67,000.

Altcoin Daily posted on X (formerly Twitter) that Cowen had predicted back in August 2023 that ADA would lose dominance against BTC falling to just 400 satoshis. While most dismissed his prediction at the time, but ADA’s nearly 7% crash the past week now lays credence to his bearish outlook.

CoinMarketCap data shows that ADA lost its 10th position in the market and is now the 11th-largest digital asset with a valuation of $11.58 billion, priced at $0.3309. The cryptocurrency’s trading volume jumped 80.38% in the past 24 hours, suggesting that most traders are selling. ADA is also down 89.31% from its all-time high of $3.10 in 2021.

ADA has been one of the worst-performing blue chip tokens, gaining just 13.95% since October 2023. The blockchain netw…

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