Analyst Says Cardano Could Be Ready To Outperform Ethereum As Reliable Indicator Flashes Bitcoin Bottom Signal

A popular crypto analyst offers insight into the future of two of the biggest digital assets.

New strategy session hosted by Anonymous InvestAnswers To tell His 443,000 YouTube subscribers show their interest in decentralized blockchain protocol Cardano (ADA) in conjunction with top smart contract platform Ethereum (ETH).

Right now, everything is stalling against Ethereum, but the ADA/ETH pair is down 68% in a year. It is important to zoom out and see exactly what is happening. We seem to be putting in a pretty solid bottom very close to that 0.00025 level, which should be a bottom of sorts for Cardano.

Analysts say it will be important to see what happens with Cardano’s upcoming Vasil hard fork, which has recently been delayed from its original launch date in June.

Pair trading here, an option if the Cardano hard fork succeeds and adoption returns. If it gets implemented, it will basically be a good time to switch your ETH to Cardano. “

At the time of writing, Cardano is down 3% and trading at $0.54, while Ethereum is down less than 1% at $1,860. The ADA/ETH trading pair is 0.00029 ETH ($0.54).

Crypto analysts next use Puer multiples to determine if Bitcoin (BTC) has hit the bottom of its bear market. This metric is determined by dividing the daily issuance of BTC by the 365-day moving average of the daily issuance.

The host shows a graph highlighting the three Bitcoin troughs of 2015, 2019 and 2020.

About the Puell Multiple, the organizers said:

This shows all the important troughs we have had in the past, corresponding to the price of Bitcoin and the blue that is the puer multiple. We look at miners and their earnings, and you can see that this has been a very reliable bottom indicator in the past.

Bitcoin is down 1.35% and is trading at $23,336.

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