As investors become cautious ahead of Thursday’s release of the most recent US inflation statistics, Cardano, like Bitcoin, is at the head of the pack of cryptocurrencies that are decreasing in value. This morning’s crypto market plunged amid rumors that the US’s core inflation statistics may have increased.
The US Federal Reserve is predicted to continue raising interest rates in a hawkish manner, which will cause investors to pull back even more from high-risk investments like bitcoin and other cryptocurrencies. The release of FOMC minutes, which show that the Federal Reserve is still committed to rising interest rates, added to the market’s pessimism.
ADA’s Ecosystem Thrives, Bull Run Incoming?
Dan Gambardello, the founder of Crypto Capital Venture, recently told his followers on Twitter that Cardano will continue to thrive once the next bull cycle starts. An anonymous Twitter user @Cardano whale expressed a similar viewpoint in the short term, claiming that ADA’s fundamentals are still quite solid.
In a tweet, Gambardello expressed his opinion that the bear market that began last year is currently the reason why things are the worst for ADA. The final bear market leg, according to him, is just getting started and will be “volatile and crazy.”
The founder of Crypto Capital Venture acknowledges that this is merely his opinion and that he makes no promises in support of it. He is sure in his analysis, though, because of the data he has been gathering over the previous few years.
The ADA community should exercise patience, according to anonymous Twitter user @Cardano whale, because “ADA fundamentals are stronger than ever.” He also reminded the community that, despite the fact that the media rarely covers it, the Cardano ecosystem is thriving.