A popular crypto analyst says his interest in Cardano (ADA) is returning, although he has one concern about the blockchain’s ecosystem.

In a new interview with Altcoin Daily, the pseudonymous host of Coin Bureau known as Guy says that while he recently sold off his ADA holdings it is a promising project likely to survive the market turmoil.

“I like Cardano. I sort of have this weird thing with Cardano. It’s like one day I’m really, really bullish on it. And the next day, I kind of start questioning it. … the Cardano community is one of the biggest, one of the most active, one of the most supportive and [ADA founder Charles Hoskinson] is this really kind of inspirational figure.

I sold out ADA recently to hold in [stablecoin], but I’d definitely be considering going back into it as well. There’s interesting stuff happening.”

Guy says his concern about ADA is whether the blockchain is well-suited for developers to build on.

“I don’t think there’s been a huge amount of cooperation between projects on Cardano. And I still keep hearing this stuff about how it’s quite a difficult ecosystem to build in.”

Guy predicts that ADA is going to remain one of the sustainable blockchain projects amid market turmoil.

“I think there are really cool projects building there and that community seems to be enough to sustain it through tough times at least.”

Guy did not pick ADA for his top five list of altcoins to invest in during a recession. His selections at the top of the list included decentralized blockchain network Cosmos (ATOM) and proof-of-stake protocol Algorand (ALGO).

At time of writing, ADA is changing hands at $0.258.

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A popular crypto analyst is providing insights into the future of the Cardano (ADA) blockchain as the bear market continues to hibernate.

In a new YouTube strategy session video, pseudonymous Coin Bureau host Guy tells his 2.17 million subscribers that in the near term ADA is likely to continue to decline in value.

But he says the smart contract platform’s long-term performance ultimately depends on how successfully the blockchain implements its planned five stages of development.

“Although ADA is likely to continue declining until we hit the true bear market bottom, its long-term performance ultimately depends on Cardano’s upcoming milestones.”

Guy outlines some of the next significant steps for ADA, which was co-founded by Charles Hoskinson, CEO of the engineering company behind the blockchain, Input-Output Hong Kong (IOHK).

“Cardano has an official roadmap consisting of five stages. We’re currently in the fourth stage called Basho, which focuses on scaling, that is, going fast. One of the few remaining milestones in Basho is a scaling solution called Hydra, which will start being rolled out next year.

Additional milestones include the introduction of various side chains such as… Midnight as well as an EVM [Ethereum Virtual Machine] side chain that IOHK is working on.”

According to Cardano, Basho is intended to improve the “underlying performance of the Cardano network to better support growth and adoption for applications with high transaction volume.”

The final stage is called Voltaire, which will implement a “voting and treasury system,” giving network participants a say in the future development of the blockchain project.

Cardano is trading at $0.300 at time of writing. The ninth-ranked crypto asset by market cap is down by about 2.9% in the past 24 hours. ADA is down more than 90% from its all-time high of $3.09, reached in September 2021.

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A popular crypto analyst thinks Cardano (ADA) and Algorand (ALGO) will be two blockchains “to watch out for” when the next bull market kicks off.

Pseudonymous Coin Bureau host Guy says in a new discussion with fellow crypto analyst Benjamin Cowen that both Ethereum (ETH) rivals have great teams behind them.

“Long-term trend-wise, I think investors — particularly institutional investors, which is obviously where Cardano is lacking in that respect — but I think any investor will look at the likes of Ethereum and Cardano in the aftermath, when interest in crypto returns, and go, ‘Well, these guys were able to execute these big upgrades, and they went flawlessly.’

And I think that is a testament to the caliber of people working on those projects, and that I think will be a big part of peoples’ due diligence in the future. So although price hasn’t done anything, I think it’s really, really positive, for Cardano especially.” 

ADA is trading for $0.43 at time of writing. The 8th-ranked crypto asset by market cap is down 0.72% in the past 24 hours.

Guy also notes that Algorand’s connections to the Massachusetts Institute of Technology (MIT) could open up possibilities for the project. Algorand’s founder, Silvio Micali, is a professor of computer science and cryptography at the university.

“The Algorand team is not only very capable, but it also seems sort of really well connected, because MIT, as I understand it, is supposedly collaborating with the Federal Reserve on this upcoming digital dollar, this CBDC [central bank digital currency]. And I think that kind of opens up a lot of potential questions around Algorand, because there has been a lot of speculation that Algorand could be the blockchain for a US CBDC to eventually run on.”

ALGO is trading for $0.3573 at time of writing, a negative change of 1% in the past 24 hours.

News broke in February that the U.S. Federal Reserve and researchers at MIT are collaborating on a central bank digital currency (CBDC) initiative called Project Hamilton.

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The host of YouTube crypto channel Coin Bureau has bullish sentiment for smart contract platform Cardano (ADA) despite current headwinds.

In a new video, the analyst known as Guy tells his 2.1 million subscribers that ADA could surge by more than twice its current value after it plunged by over 50% since May.

He says traders and investors turn to Ethereum (ETH) competitors for a hedge in case the merge will not result in favorable market conditions.

“In recent weeks, Cardano’s ADA has emerged as an ideal hedge against something going wrong with the merge and Cardano’s own upcoming upgrade could supercharge ADA’s price action.”

Guy says that the merge, which is set to happen in mid-September, and its own Vasil hard fork, which will happen a week later after the Ethereum upgrade, could make ADA soar to $1. The altcoin is trading for $0.48 at time of writing.

“ADA could rally as high as $1 as a result of Ethereum’s merge and Cardano’s own Vasil hard fork. This would work out to a 2x move in the short to medium term which is a realistic expectation especially since ADA’s price action in fiat and ETH terms supports this target.”

Guy says that ADA’s long-term outlook will depend on the network’s upcoming milestones. The crypto asset’s price action could be impacted not just by the merge and Vasil but also by other factors that could also happen in September.

“There are additional macro factors coming later this month that could take ADA and other cryptocurrencies even higher or much lower.”

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The very popular pseudonymous host of crypto market commentary show Coin Bureau explained his short to medium term price prediction for $ADA.

According to a report by The Daily Hodl, in a video released on Thursday (September 8), “Guy” explained told the over two million subscribers of Coin Bureau’s YouTube channel:

“In recent weeks, Cardano’s ADA has emerged as an ideal hedge against something going wrong with the merge and Cardano’s own upcoming upgrade could supercharge ADA’s price action...

“ADA could rally as high as $1 as a result of Ethereum’s merge and Cardano’s own Vasil hard fork. This would work out to a 2x move in the short to medium term which is a realistic expectation especially since ADA’s price action in fiat and ETH terms supports this target.“

As for $ADA’s long-term price outlook, he said:

“There are additional macro factors coming later this month that could take ADA and other cryptocurrencies even higher or much lower.“

According to data by CryptoCompare, currently (as of 2:45 p.m. UTC on September 9), $ADA is trading around $0.4949, up 4.3% in the past 24-hour period.

Yesterday, IOG, the blockchain technology company behind Cardano’s R&D, made an important announcement regarding its non-custodial Cardano wallet “Daedalus”.

Daedalus is a full-node wallet, which means that “unlike light wallets (e.g.Yoroi, Adalite etc.) Daedalus downloads a full copy of the Cardano blockchain and independently validates every transaction in its history”, thereby giving you “maximum security and completely trustless operation, without centrally hosted 3rd party servers.”

IOG announced that version 5.0.0 of Daedalus is Vasil-compatible and ready for the Cardano mainnnet, bringing us one step closer to full ecosystem readiness for the Vasil upgrade on September 22:

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A popular crypto analyst says that smart contract platform Cardano (ADA) is set to outperform Bitcoin (BTC) in the short term as traders look to hedge against Ethereum’s (ETH) upcoming transition to proof-of-stake.

In a new video update, the host of Coin Bureau tells his 2.1 million YouTube subscribers that he views ETH competitors as hedges against The Merge in case the update doesn’t go as smoothly as planned.

“One of the ways I’ve personally been hedging myself against something going wrong with Ethereum’s merge is to hold competing smart contract cryptocurrencies as a part of my portfolio, and this includes Cardano’s ADA.”

According to Guy, ADA works as a hedge against the Ethereum Merge as Cardano itself is also due for the Vasil hard fork upgrade in September.

“It would be an admittedly strategic move if Cardano improved its scalability around the time Ethereum transitions to proof-of-stake. This is because it would put Cardano in a perfect position to acquire users and investors if The Merge fails or simply fails to meet the expectations of ETH holders.”

Guy says that Cardano appears primed to see gains against the top digital asset by market cap.

“ADA seems to be overdue for an appreciation against BTC on the weekly chart. This is because ADA has historically fallen against ETH for around eight weeks before seeing a multi-week rally. As you can see, ADA has been falling against ETH for about eight weeks and is showing signs of a reversal.”

The host then speculates that Cardano could see a 50% gain in price.

“Note that [appreciating against BTC] does not necessarily translate to a higher price for ADA in fiat terms, but ADA’s daily and weekly price action in fiat terms suggests it could see a 50% gain in the coming weeks.

But I must stress that this ultimately depends on whether the crypto market sees a short-term recovery. I should also note that Cardano’s Vasil hard fork will expose the project to the same sorts of issues Ethereum could experience during its upgrade.

This is probably why other Ethereum competitors such as Solana appear to be on the brink of a bigger breakout against both ETH and the USD.”

ADA is changing hands for $0.452 at time of writing, a 1.5% gain on the day.

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