Prominent analyst Benjamin Cowen indicated that Cardano 
$0.896005 (ADA) is likely to experience a decline against Bitcoin 
$98,238 (ADA/BTC ratio) before the end of 2024. Cowen shared his predictions based on historical data on the social media platform X.
Historical Fluctuations
According to Cowen, ADA Coin has fluctuated between approximately 400 and 4000 satoshis against BTC in the past and typically made its final declines by the end of halving years. This pattern aligns with the four-year cycle of the ADA/BTC ratio.
The analyst noted that the current monetary policy remains relatively restrictive and that the US dollar is on the rise. Such conditions generally have a negative impact on risky assets like cryptocurrencies.
General Outlook on the Altcoin Market
Cowen expressed similar views regarding altcoins. Observing the TOTAL3-USDT chart, he suggested that the total market cap of cryptocurrencies excluding Bitcoin is facing transition difficulties and that altcoins may weaken further.
“I believe that ADA/BTC will decline once more by the end of the year and start to rise in 2025.”
He further explained that continued quantitative tightening (QT), the rise of the US dollar index (DXY), and increasing yields could lead to another decline in the ADA/BTC ratio by year-end. With Bitcoin’s dominance reaching around 60%, a drop of the ADA/BTC ratio to 470 satoshis supports Cowen’s long-term target of 400 satoshis. However, he pointed out that another decline is likely due to current economic conditions.
Considering that Bitcoin’s dominance tends to increase in December and typically rises during halving years, Cowen suggests that Cardano may show signs of recovery in 2025. The performance of Cardano against Bitcoin has been assessed by the analyst in light of economic and historical data, which may serve as a significant indicator for investors.
