Why the Cardano Bull trend isn’t over and a 91% surge is imminent, deVere CEO Nigel Green

One look at the charts and any crypto investor will see that Cardano is currently suffering. The digital asset is currently in decline with the rest of the market suffering from the Evergrande situation in China. The market is on a downward trend as the situation develops. His biggest link with the market is the fact that Tether allegedly owns some of the Evergrande bonds.

This has had a major impact on the crypto market. Bitcoin fell to a monthly low with the news, and as the altcoins followed suit, Cardano saw prices decline as well. Reaching lows not seen since the rally started in August. Current indicators point to a further decline in the market. But deVere CEO Nigel Green believes that while ADA is down, it is definitely not over.

Cardano’s streak isn’t over yet

Green explained why Cardano’s hot streak was far from over. The CEO cited the latest technological advances in the project, namely the recent expansion of the blockchain to include smart contracts. Because of this, Green points out that the digital asset will soon hit new all-time highs.

Related reading | Why the Hydra Layer 2 solution is important to the Cardano network

Speaking to Insider, the CEO pointed out that Cardano currently has a reputation for being a “green” cryptocurrency. Coupled with a broader crypto market rally, Green sees the price of the digital asset reaching $ 4 by the end of 2021. Given the asset’s current price points, that would be a 91% increase to get to that point.

A major reason Green’s bullish stance on Cardano has to do with the network’s applications. The recent addition of smart contracts has now brought the booming decentralized finance (DeFi) market to Cardano. Increase the use cases of the blockchain again. The deVere CEO sees his ability to solve problems as a major driving force.

“Things to look at are the purpose of the cryptocurrency, how long it’s been in the market, market capitalization, and the solutions behind it. Cryptocurrencies that solve problems are likely to have more success than those that don’t. The longer a cryptocurrency is in the market, the more trust it has gained, and cryptocurrencies that are developed in strong networks will last longer, “Green told Insider.

ADA price drops to $ 2.11 | Source: ADAUSD on TradingView.com

Likewise bullish with Ethereum

Green’s bullish outlook doesn’t just fall on Cardano. The CEO also stated that he was just as optimistic about Ethereum. The reasons for this were essentially the same as those given for Cardano. Their extensive use cases make both projects important to users and are therefore poised to rise higher in the market. Investor interest in the project has also grown, which has made it more valuable than most projects on the market.

Related reading | Cardano founder Charles Hoskinson says the term smart contracts needs to be changed

Ethereum will outperform Bitcoin, according to Green. Although the pioneering cryptocurrency is sure to return to its all-time high before the end of the year, the CEO says. Giving Bitcoin 50% price growth that continues. Given his stance, it’s not surprising that Green believes Ethereum will trade higher than Bitcoin in the next five years.

Featured image by Investors King, chart from TradingView.com

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