Renowned analyst Benjamin Cowen has indicated that Cardano 
$0.145583 (ADA) may lose value against Bitcoin 
$60,409 by the end of the year. In a post on the social media platform X, Cowen highlighted that ADA has historically fluctuated within a specific range against Bitcoin, and the current market conditions support a repetition of this pattern.
ADA/BTC Historical Data and 2023 Predictions
Cowen recalled that ADA has traded between 400 and 4,000 satoshis against Bitcoin in the past. He noted that declines typically occur towards the end of halving years and suggested that this trend may continue in 2023. The analyst stated that economic indicators support this prediction, emphasizing that a tight monetary policy and the strengthening of the U.S. dollar negatively impact risky assets.
Bitcoin Dominance and Economic Impacts
Cowen stressed that Bitcoin dominance has historically increased in December during halving years. He suggested that ongoing monetary tightening could weaken pairs like ADA/BTC. Cowen stated, “The end of QT could have halted the ADA/BTC decline, but current conditions support the downturn.”
Explaining the movements of the ADA/BTC ratios from 2020 to 2024 with graphs, Cowen demonstrated that this pair has historically fluctuated with specific cycles. However, he remarked that while altcoin/BTC pairs remain above historically low levels, the market conditions are still pressuring them.
Economic data and market trends indicate that the altcoin market will continue to fall under Bitcoin dominance. Although ADA is expected to lose value in the short term, there is potential for recovery in the long term. According to Cowen’s analysis, it is crucial for market participants to closely monitor the current economic conditions and historical patterns.
