Altcoin has high growth potential by analyst

Benjamin Cowen has allocated a token that may be in the accumulation phase after a threefold rise in price and is preparing to continue its rapid upward movement The opinions of experts may not coincide …

Benjamin Cowen has allocated a token that may be in the accumulation phase after a threefold rise in price and is preparing to continue its rapid upward movement

The opinions of experts may not coincide with the position of the editorial board. topplabs.org does not provide investment advice, the material is published for informational purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.

Crypto analyst Benjamin Cowen believes that Cardano is in a phase of accumulation, after which the altcoin will return to skyrocketing growth. Cowan explained that this is the expected scenario for an asset that rallied 300% from mid-July to September, hitting a new all-time high above $ 3.

The analyst claims that the token is currently trying to maintain the $ 2 mark. If he succeeds, then in November this year Cardano may return to rapid growth.

Cowen added that Cardano's all-time high renewal will only be possible if the market is not shocked and the value of Bitcoin does not plummet.

On October 6, Cardano is trading at $ 2.3. Over the past month, cryptocurrency has fallen in price by 9%. The capitalization of the token dropped to $ 73.3 billion. The asset ranks third in the list of the largest cryptocurrencies in terms of capitalization, according to CoinGecko.

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