- The global crypto space saw a massive crash this past month.
- Cardano was not performing too well along with the rest of the market.
- However, the situation may not turn around for the better.
The crypto world saw unprecedented disasters this past month. Coin after coin crashed and burned, leaving behind a wasteland of miserable investors. However, not everyone is disillusioned; some investors are finding silver linings. One such investor is the founder of Crypto Capital Venture — Dan Gambardello. This crypto influencer believes that Cardano is at the mercy of the stock market but that ADA may have a secret weapon to help things along.
The content creator says that the ADA data is compelling and that Cardano’s good position in the current window is not merely because of the upcoming Vasil hard fork event. “I can totally see a relief rally of sorts,” claims the analyst.
We have to pay attention to traditional markets, not Bitcoin. That is where the movements are stemming from.
Gambardello believes that all coins are following the S&P 500 index. As an example, he shows data of performance of coins from March 16 to March 29. It showed an uptrend for both ADA and BTC. The S&P 500 index is the foundational data point here. In this 15 day period, ADA gained 55% gains and BTC gained 23%. Notably, Cardano outperformed Bitcoin. “This is the perfect illustration of what I think is going to continue playing out in these markets,” said the influencer.
“Cardano, in my view, is going to outform Bitcoin and a bunch of other altcoins because of what’s happening on the Cardano blockchain.”
However, not everyone shares Gambardello’s optimism. Some investors commented stating that Cardano was dead. “Stop making up stories as the price moves,” said another investor.
Gambardello ended his analysis by asking people to do their own research instead of listening to people online and to make their own calculated moves.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.