Analyst Calls ADA Amazon Of The Crypto World, Forecasts Bright Future Ahead
September 05 2023 - 9:00AM
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Amid increased price fluctuations in the crypto market, Crypto
Capital Venture founder Dan Gambardello is bullish about Cardano’s
(ADA) future. In his latest YouTube video, Gambardello
compared Amazon’s stock price trajectory to Cardano’s, highlighting
striking similarities between both companies. While he acknowledged
ADA’s two-year-long bearish market conditions, the analyst believes
that, like Amazon, Cardano has the potential for long-term
growth. Since both entities’ technology differs with varying
achievements, he compared the underlying principles and price
action. Cardano’s (ADA) Current Market Condition Is Similar To
Amazon’s Early Years Gambardello highlighted Amazon’s historical
price performance between 1999 and 2001. According to him, Amazon
stock nosedived from a $5.25 all-time high price to 30 cents
between this timeframe. Related Reading: Worst Behind For BTC
Price? Whales Accumulate Bitcoin, But It’s Not BlackRock Similarly,
ADA’s value, which rose above $3 during the bull market in
September 2021, has now plummeted to 25 cents. Therefore, the
analyst likened buying ADA in 2023 and acquiring Amazon stocks in
2001. This is particularly true given Cardano’s growth
potential in the financial market. Moreover, Gambardello forecasted
that Cardano (ADA) could become the world’s number one financial
operating system. In addition, he mentioned that currently,
ADA’s market cap is approximately $8.9 billion. That is even 90%
higher than Amazon’s market cap of $2.2 billion after a similar
crash in 2001. The crypto analyst cited a letter from Jeff Bezos to
Amazon shareholders during the downturn. In the letter, Bezos
stressed that Amazon stood stronger despite the massive stock price
drop. In his comparison, Gambardello drew similarities
between ADA’s current position and Amazon’s during the downturn. He
noted that Cardano Blockchain is more robust and better than
before, citing improved smart contracts, scalability, and staking
utility. Cardano Has Potential For Long-term Success Like
Amazon Gambardello also likened ADA to the stock market, quoting a
prominent crypto investor, Benjamin Graham. He said: “The stock
market is a voting machine in the short run and a weighing machine
in the long term.” Also, he noted that, like Amazon, Cardano’s
fundamentals are strong enough to sustain it even in harsh economic
conditions. The crypto analyst emphasized that Cardano is in the
initial stages of user adoption, with several developers building
on its network. It is similar to Amazon’s commitment to enhancing
customer experience, which fueled its long-term growth.
Again, Gambardello shifted focus to Cardano’s security and
decentralization. He explained that Cardano’s robust security and
decentralization give it an edge over other blockchain networks
like Solana. He further mentioned that several startups have
adopted Cardano as of September 2023. For instance, World Mobile
utilized Cardano’s infrastructure to connect the unbanked and
financially underserved people. According to Gambardello, this
real-world use case is a game changer and starting point for
Cardano’s success. Related Reading: Shiba Inu (SHIB)
Presents Compelling Reversal Indicators – Could This Be It? In
conclusion, the analyst said Cardano has numerous unexplored
potentials with striking similarities to Amazon’s early days.
Therefore, he is confident that Cardano has a high potential for
long-term success and could offer massive returns to investors
bullish enough to see it. Featured image from Pixabay and chart
from TradingView.com
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