2022-09-08 17:28:08

5 Reasons to Be Bearish on Cardano Price and Bullish on Tamadoge

Cardano has proven to be an exciting crypto project, yielding investors high returns. But the crypto market crash has made some Cardano investors bearish. Tamadoge is a new NFT game that investors are bullish on because of its utility and rewards. Can Cardano Drop Lower? Crypto bear markets can be brutal, and Cardano (ADA) investors watched the coin lose 87% of its value after reaching an all-time high of $3 in August 2021. But many investors are wondering, can ADA go lower? Cardano Rallies ADA has provided investors with 7,000% returns because of a rally that started at the end of 2017 and lasted until the beginning of 2018. And just recently, Cardano had another rally at the beginning of 2021, climbing up just over 1,600%. If that wasn’t enough, ADA retraced and then went for another run to reach its all-time high. Since then, ADA buyers have run out of steam and the crypto bears have taken over. Although ADA has lost 87% of its value, it’s possible that it can lose more. After Ethereum and Bitcoin topped out during the 2018 rally, both of these top cryptocurrencies lost just over 90% of their value in the subsequent years. So it’s possible that ADA can dip lower before it starts climbing up again. Bearish Market Sentiment It’s not easy for investors to watch several red candles a few weeks in a row. Many crypto investors have lost hope in another ADA rally, and the worst part is that many believe that the bottom isn’t yet i...

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