The post With Cardano’s Fundamentals Still Strong, Will There be ADA Price Rally Soon? appeared first on Coinpedia Fintech News
As investors become cautious ahead of Thursday’s release of the most recent US inflation statistics, Cardano, like Bitcoin, is at the head of the pack of cryptocurrencies that are decreasing in value. This morning’s crypto market plunged amid rumors that the US’s core inflation statistics may have increased.
The US Federal Reserve is predicted to continue raising interest rates in a hawkish manner, which will cause investors to pull back even more from high-risk investments like bitcoin and other cryptocurrencies. The release of FOMC minutes, which show that the Federal Reserve is still committed to rising interest rates, added to the market’s pessimism.
ADA’s Ecosystem Thrives, Bull Run Incoming?
Dan Gambardello, the founder of Crypto Capital Venture, recently told his followers on Twitter that Cardano will continue to thrive once the next bull cycle starts. An anonymous Twitter user @Cardano whale expressed a similar viewpoint in the short term, claiming that ADA’s fundamentals are still quite solid.
In a tweet, Gambardello expressed his opinion that the bear market that began last year is currently the reason why things are the worst for ADA. The final bear market leg, according to him, is just getting started and will be “volatile and crazy.”
$ADA holders, I think the last year leading to this current moment was the toughest part. Now we prepare for the last leg of the bear market. It will be volatile & crazy, but the clouds will eventually clear and #Cardano will thrive in the next bull cycle. Stay strong & plan.
— Dan Gambardello (@cryptorecruitr) October 13, 2022
The founder of Crypto Capital Venture acknowledges that this is merely his opinion and that he makes no promises in support of it. He is sure in his analysis, though, because of the data he has been gathering over the previous few years.
This sell off is brutal, one of those days (which we also saw in the last bear market) where $ADA specifically seems to get singled out by the market, presumably mostly leverage monkeys. It is what it is, have been throwing the occasional Bitcoin into the ADA/BTC snake pit today
— ADA whale (@cardano_whale) October 13, 2022
The ADA community should exercise patience, according to anonymous Twitter user @Cardano whale, because “ADA fundamentals are stronger than ever.” He also reminded the community that, despite the fact that the media rarely covers it, the Cardano ecosystem is thriving.
