Earlier this month, Cowen expressed concerns about ADA and the broader cryptocurrency market. He hinted at a possible market downturn, identifying decreased liquidity as a primary contributing factor. He labeled this potential dip as a “depression phase,” projected to begin once ADA’s price falls below $0.24. At present, ADA’s trading value stands at $0.2448.
According to Cowen, this bearish trend may persist until there is a shift from quantitative tightening to easing, in sync with potential changes in the U.S. Federal Reserve’s policy. However, he cautions that this shift might not occur until approximately the latter half of 2024.
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Source: Cryptocurrency - investing.com
