On May 7, crypto analyst Benjamin Cowen shared his thoughts on Cardano ($ETH).
Here are a few highlights from his reamrks about Cardano:
- “If an altcoin can’t outperform Bitcoin, then there’s no point in holding it. Can ADA outperform it… ADA outperforms Bitcoin in a bull market.“
- “Going back to ADA, I see this as still a long-term play. Now, buying ADA at $1.37 is much riskier than buying it at $0.02… but in the grand scheme of the cycle, I do think ADA has a ways to go. I don’t think 1.37 is the market cycle top by any means. Market cycle tops don’t look like this.“
- “I think in the grand scheme of the market cycle, I think it’s going to go much higher than where it currently is. If I had to throw a ballpark number out there, I would say somewhere between like $5 to $10 is my guess… If I’m wrong because it goes higher than $10, that’s something I don’t mind being wrong about.“
According to data by CryptoCompare, Cardano’s $ADA token is currently trading around $1.80, up 3.87% in the past 24-hour period.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Featured Photo via Pixabay.com