Bitcoin price recently climbed to $48,200, coming within a few hundred dollars of its January 11 peak. However, it then turned downward due to profit-taking. Volatility continues to increase, which was expected. Yet, a popular analyst forecasts an unexpected end for one of the top 10 cryptocurrencies.
The Future of ADA Coin
Bitcoin, adopted as legal tender by El Salvador, the first country to do so, has a consultant to President Nayib Bukele named Max Keiser who recently targeted Cardano (ADA). Keiser foresees a ruthless future for ADA, believing its price will go to zero.
As a well-known figure in the crypto industry, his comments sparked significant debate. Keiser, a staunch Bitcoin advocate and altcoin skeptic, recently attacked Cardano founder Hoskinson with disparaging remarks about his project.
“Hoskinson emerged from the sewer,” Keiser stated.
We have seen harsh criticism of Hoskinson in the past, some of which was justified. According to Keiser, ADA Coin, which he deems trash or a scam, will go to zero. These comments are not unusual for Hoskinson, who has been criticized for not paying enough attention to his project and frequently engaging in irrelevant social media debates.
Comments on ADA Coin
Despite Keiser’s comments about ADA Coin’s price going to zero, the positive outlook for BTC price is turning the short and medium-term views back to positive. In this light, it may not be necessary to take the extreme views of Bitcoin maximalists, who are hostile towards altcoins, too seriously.
On the four-hour chart, ADA Coin’s price has risen above the simple moving average for the first time in weeks, boosting optimism. A popular crypto analyst, Sebastian, wrote that if ADA maintains this momentum, it could surpass $0.55. If bulls can sustain this level, the recent downtrend may reverse.
As of the writing of this article, the BTC price is above $47,500, and with the increase in BTCD, there are slight recoveries in altcoins. Over the weekend, if volumes drop as expected and BTC remains stable near its current level, some altcoins may recover.