Key Takeaways
- The several incidents that have been rocking the cryptocurrency world have sparked a lot of discussions among several stakeholders in the space.
- While some hold negative opinions regarding the plummeting of the bear market, others still have faith in this incident and believe it'll result in something good.
The several incidents that have been rocking the cryptocurrency world have sparked a lot of discussions among several stakeholders in the space. While some hold negative opinions regarding the plummeting of the bear market, others still have faith in this incident and believe it'll result in something good. A recent instance of the latter is the opinions of well-known crypto influencer Dan Gambardello.
Read: Regulators are "spending too much time on crypto": Comptroller
Crypto Influencer Thinks ADA Hasn't Hit Bottom Yet
This news came to light on October 14 when Dan published a new YouTube video discussing the current market's unfavourable attitude and how this can present intriguing investment opportunities. Additionally, he explicitly mentioned Ripple and Cardano (ADA) (XRP).
The reputable YouTuber emphasised the significance of considering the entire chart for ADA. He explained how doing this would bring to notice how ADA had a 98% decline in the previous bear market. ADA is currently down well over 80% from its all-time high, which suggests that the altcoin's price may continue to decline.
Additionally, he suggested that investors examine the stock market. It is becoming increasingly plausible that the cryptocurrency market will decline along with the stock market if it does.
The notion that the cryptocurrency has fallen below the declinating trendline supports the idea that ADA could experience more decline. The YouTuber ended his talk about ADA by saying that he didn't think the cryptocurrency had hit rock bottom at the moment.
Regarding XRP, Gambardello began by highlighting the significance of the Ripple vs. XRP case for the entire crypto community and that the verdict would establish a standard for the rest in the future.
Given the favourable perceptions, cryptocurrency will once more be introduced to exchanges. In light of this, Dan said that if Ripple wins the lawsuit, there will be significant gains for XRP.
He also expressed that investors should be watchful of this possibility. ADA and XRP are currently up 3.44% and 6.42%, putting them in the green for the day.
Do you agree with Dan’s views on ADA and XRP? Kindly share your thoughts with us in the comments section.
