Featured image from Pixabay and chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Amid increased price fluctuations in the crypto market, Crypto Capital Venture founder Dan Gambardello is bullish about Cardano\u2019s (ADA) future.\u00a0In his latest YouTube video, Gambardello compared Amazon\u2019s stock price trajectory to Cardano\u2019s, highlighting striking similarities between both companies. While he acknowledged ADA\u2019s two-year-long bearish market conditions, the analyst believes that, like Amazon, Cardano has the potential for long-term growth.\u00a0Since both entities’ technology differs with varying achievements, he compared the underlying principles and price action. Cardano\u2019s (ADA) Current Market Condition Is Similar To Amazon\u2019s Early Years Gambardello highlighted Amazon\u2019s historical price performance between 1999 and 2001. According to him, Amazon stock nosedived from a $5.25 all-time high price to 30 cents between this timeframe.\u00a0 Related Reading: Worst Behind For BTC Price? Whales Accumulate Bitcoin, But It\u2019s Not BlackRock Similarly, ADA’s value, which rose above $3 during the bull market in September 2021, has now plummeted to 25 cents. Therefore, the analyst likened buying ADA in 2023 and acquiring Amazon stocks in 2001.\u00a0 This is particularly true given Cardano\u2019s growth potential in the financial market. Moreover, Gambardello forecasted that Cardano (ADA) could become the world’s number one financial operating system.\u00a0 In addition, he mentioned that currently, ADA\u2019s market cap is approximately $8.9 billion. That is even 90% higher than Amazon’s market cap of $2.2 billion after a similar crash in 2001. The crypto analyst cited a letter from Jeff Bezos to Amazon shareholders during the downturn. In the letter, Bezos stressed that Amazon stood stronger despite the massive stock price drop.\u00a0 In his comparison, Gambardello drew similarities between ADA’s current position and Amazon’s during the downturn. He noted that Cardano Blockchain is more robust and better than before, citing improved smart contracts, scalability, and staking utility.\u00a0 Cardano Has Potential For Long-term Success Like Amazon Gambardello also likened ADA to the stock market, quoting a prominent crypto investor, Benjamin Graham. He said: \u201cThe stock market is a voting machine in the short run and a weighing machine in the long term.\u201d Also, he noted that, like Amazon, Cardano\u2019s fundamentals are strong enough to sustain it even in harsh economic conditions. The crypto analyst emphasized that Cardano is in the initial stages of user adoption, with several developers building on its network. It is similar to Amazon’s commitment to enhancing customer experience, which fueled its long-term growth.\u00a0 Again, Gambardello shifted focus to Cardano\u2019s security and decentralization. He explained that Cardano\u2019s robust security and decentralization give it an edge over other blockchain networks like Solana. He further mentioned that several startups have adopted Cardano as of September 2023. For instance, World Mobile utilized Cardano\u2019s infrastructure to connect the unbanked and financially underserved people. According to Gambardello, this real-world use case is a game changer and starting point for Cardano\u2019s success.\u00a0\u00a0 Related Reading: Shiba Inu (SHIB) Presents Compelling Reversal Indicators \u2013 Could This Be It? In conclusion, the analyst said Cardano has numerous unexplored potentials with striking similarities to Amazon’s early days. Therefore, he is confident that Cardano has a high potential for long-term success and could offer massive returns to investors bullish enough to see it. Featured image from Pixabay and chart from TradingView.com<\/p>\n","protected":false},"author":568,"featured_media":550099,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[85376,87129,14643,14301,1558],"class_list":["post-550098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada-analysis","tag-ada-technical-analysis","tag-adausd","tag-cardano-ada","tag-cryptocurrency"],"acf":[],"yoast_head":"\n
Analyst Predict Bright Future For ADA, Calls It Amazon of Crypto<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n