Bears Choke ADA Prices in 2023, Can Cardano Breath a Sigh of Relief?
- Youtuber Cowen shared a tweet comparing the ROI of ADA in 2019 and 2023.
- ADA’s highs in 2019 were much higher than the highs in 2023.
- Cardano could test the support level before gaining value and spiking.
Youtuber and CEO of Into The Cryptoverse, Benjamin Cowen made a comparison of Cardano’s (ADA) Return on investment (ROI) in 2019 with ROI in 2023. According to the tweet shared, it could be noted that the 2023 ROI has dwindled. In particular, the ROI rose from 1 to a value higher in 2023 during the first 50 days of investment. However, in 2019 the ROI dropped below 0.9 before rising above 1.
Notably, the 2019 ROI rose to more than 2 when the investment maturity reached 100 days. The 2023 ROI was below the 2 mark during the same maturity period. The ROI could be reducing due to Cardano losing value.
Considering the chart below, ADA started the week with an opening market price of $0.2454, and shortly after gaining some momentum, it immersed itself below the opening market price.
Thereafter,…
The post Bears Choke ADA Prices in 2023, Can Cardano Breath a Sigh of Relief? appeared first on Coin Edition.
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Bears Choke ADA Prices in 2023, Can Cardano Breath a Sigh of Relief?
- Youtuber Cowen shared a tweet comparing the ROI of ADA in 2019 and 2023.
- ADA’s highs in 2019 were much higher than the highs in 2023.
- Cardano could test the support level before gaining value and spiking.
Youtuber and CEO of Into The Cryptoverse, Benjamin Cowen made a comparison of Cardano’s (ADA) Return on investment (ROI) in 2019 with ROI in 2023. According to the tweet shared, it could be noted that the 2023 ROI has dwindled. In particular, the ROI rose from 1 to a value higher in 2023 during the first 50 days of investment. However, in 2019 the ROI dropped below 0.9 before rising above 1.
Notably, the 2019 ROI rose to more than 2 when the investment maturity reached 100 days. The 2023 ROI was below the 2 mark during the same maturity period. The ROI could be reducing due to Cardano losing value.
Considering the chart below, ADA started the week with an opening market price of $0.2454, and shortly after gaining some momentum, it immersed itself below the opening market price.
Thereafter,…
The post Bears Choke ADA Prices in 2023, Can Cardano Breath a Sigh of Relief? appeared first on Coin Edition.
Read More