Why Cardano Bull Trend Isn’t Over And 91% Increase Is Imminent, deVere CEO Nigel Green
September 22 2021 - 7:00PM
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One look at the charts and any crypto investor will see Cardano is
currently suffering. The digital asset is currently down with the
rest of the market, which is suffering in the wake of the
Evergrande situation in China. The market has been in a downtrend
as the situation has evolved. Its biggest ties to the market being
the fact that Tether allegedly owns some of the Evergrande bonds.
This has spilled over into the crypto market in a big way. Bitcoin
fell to one-month lows with the news and as the altcoins have
followed, Cardano has recorded receding prices also. Hitting lows
that haven’t been seen since the rally began in August. Current
indicators point to the market poised for further decline. But
deVere CEO Nigel Green believes that while ADA may be down, it is
definitely not out. Cardano’s Streak Is Not Over Yet Green
explained his reasoning behind Cardano’s hot streak being far from
over. The CEO cited the recent technological advancements in the
project, namely the recent addition of smart contracts capability
to the blockchain. Due to this, Green points out that the digital
asset will be setting new all-time highs soon. Related Reading
| Why The Hydra Layer 2 Solution Is Important To The Cardano
Network Talking to Insider, the CEO pointed out that Cardano
currently has a reputation of being a “green” cryptocurrency. Along
with a broader crypto market rally, Green sees the price of the
digital asset hitting $4 by the end of 2021. Given the current
price points of the asset, this would be a 91% increase to get to
this point. A major reason behind Green’s bullish stance on Cardano
has to do with the applications of the network. The recent addition
of smart contracts has now brought the booming decentralized
finance (DeFi) market to Cardano. Once again increasing the use
cases of the blockchain. The deVere CEO believes that its ability
to solve problems is a major driving force. “Things you should be
looking at are the purpose of the cryptocurrency, how long it has
been in the market, market capitalization, and its underlying
solutions. Cryptocurrencies that solve problems are likely to
succeed more than those that do not. The longer a cryptocurrency
has been in the market, the more trust it has attained, and
cryptocurrencies that are developed on strong networks will stand
longer,” Green told Insider. ADA price falls to $2.11 | Source:
ADAUSD on TradingView.com Just As Bullish On Ethereum Green’s
bullish outlook does not fall solely on Cardano. The CEO also
explained that he was just as bullish on Ethereum. Reasons for this
were basically identical to the ones given for Cardano. Their vast
use cases make both projects important to users and are thus poised
to rally higher in the market. Investor interest has also grown in
the project, which has made it more valuable than most projects in
the market. Related Reading | Cardano Founder Charles
Hoskinson Says The Term Smart Contracts Needs To Be Changed
Ethereum, according to Green, is going to outperform bitcoin.
Although the pioneer cryptocurrency will certainly return to its
previous all-time high before the year ends, says the CEO. Giving
bitcoin a price growth of 50% going further. Not surprisingly,
given his stance, Green believes that Ethereum will trade higher
than bitcoin in the next five years. Featured image from Investors
King, chart from TradingView.com
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