Cardano ADA currently is going through one of its worst bearish phases. It’s hard to see the token move beyond the $0.40 mark and the Chang Fork Upgrade may be the only thing that can boost the price. Charles Hoskinson has shared an unexpected insight recently, explaining why Cardano could surpass BTC and is superior to Bitcoin.
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Hoskinson’s Bitcoin Views
Hoskinson recently revealed in an insightful podcast the reasons why he feels Cardano may soon surpass Bitcoin. Hoskinson explained that Bitcoin is the first crypto and has a very limited scope for experimentation. He compared the lack of innovation in crypto to other platforms, such as Yahoo or Myspace.
“Bitcoin is dead in the water. The only value proposition it has is that it is big and successful. That’s it.”
Hoskinson, oozing with admiration for Cardano revealed why he wanted to highlight the differences between ADA and Bitcoin. He explained that ADA combines different chains to create a new one. Later, he explained that Cardano is a chain with a lot of flexibility, while Bitcoin does not allow for much change.
ADA’s founder also emphasized the impact that ADA and Bitcoin will have on the market in the future. Hoskinson said that as ADA embraces innovation and change, Cardano ADA may soon surpass Bitcoin on innovation, the community model and sustainability.
Cardano Stats Tell Another Story
Hoskinson is to be commended for his optimism in regards to ADA, given that the token’s price has seen a steep decline throughout this entire year. ADA’s price is hovering around $0.40, unable break through the price juncture.
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The following is a list of CoinCodexCardano’s price is expected to reach a low $0.46 value by August 2024, indicating a bearish investor sentiment.
“According to our current Cardano price prediction, the price of Cardano is predicted to rise by 13.27% and reach $0.461241 by August 28, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 74 (greed). Cardano recorded 15/30 (50%) green days with 6.66% price volatility over the last 30 days.”
It is a token that anticipates the Chang Hard Fork integration, which will dramatically increase its value. It is estimated that the update will be 33% completed and could soon be integrated into the ADA chain to bring community-centric features into the system.
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Source: watcher.guru