Ethereum [ETH] and Cardano [ADA] getting ready for a comeback? – Sentiment Analysis – March 16th
In this everlasting constant motion of prices in the cryptocurrency world, Bitcoin [BTC] has been sincerely leading the market, influencing every escalation and shrink in the market. Bitcoin made a lot of noise last night after hitting a price of $7799.21. Within just 24 hours, a whopping $60 billion got wiped of their values from the cryptocurrency market.
As the common phenomenon of Bitcoin’s influence on other cryptocurrencies, the damaged was suffered by all. Bitcoin is still building momentum to break away from this bearish zone. Within 12 hours it has gained approximately $400 and is currently priced at $8233.61.
With almost every coin under the bearish pressure, a few market analysts are still predicting a positive graph. To understand and deliver what the analysts, investors, and influences feel about the market, we are assembling this sentimental analysis.
Ethereum with its market capital at $59 billion is priced at $605.09 as noted at press time. It ranks No. 2 in the global cryptocurrency market. At the end of the February, Ethereum was priced at $978.45, losing more than $350 within 20 days.
Walter Gordin, a software engineer from Michigan with Ethereum investment up to $12500 says:
“For all those people who have spare cash and do not invest in Ethereum, I feel bad for you all. Among all coins only ETH has been consistently trying to break away from the resistance. It is only the Bitcoin chaos that is keeping it at its low. Let the chaos subside, ETH will take over the world. You guys, invest now! The prices too are so low!!!”
Maria Lopez, an Economy analyst from California says:
“ETH broke its resistance couple of weeks back and it will do it again! Don’t get influenced by all this FUD. This is just a chain reaction to the whole Mt. Goz bullshit.”
Arnold Wyatt, an early Ethereum trader with an ETH investment up to $9,500 says:
“Ethereum has been proclaiming to better technology with innovative scaling methods. I haven’t seen any. This so fucked up! When can I see some efforts from their side?”
As per the collected results, the investors and analysts both believe the markets for ETH to get better, the uncertainty is only due to repercussions of the recent negative events in the cryptocurrency world. It is only a few more weeks of the unfavorable prices, the market for ETH will boom again.
The 6th biggest cryptocurrency market capital at $4,650,071,955, Cardano is seen to be priced at $0.178565. It has continued to dip at a rate of -2.31% over the past 24 hours. A month ago, Cardano was priced at $0.401 and with a steady decline in the current price, it has lost more than $0.200.
Kevin Smits, a Latin analyst says:
“Cardano is the solution to all kinds of scalability and storage problems! It has enormous potential. The can build on their partnerships once this bear season is over.”
Lucy Hokinson, a local store owner who invested in Cardano at the beginning of the year says:
“Their breakouts and bear break attempts are so depressing! When will a turnaround come to this market? 2018 has been so embarrassing to cryptocurrency world. The year started so well for ADA with the price more than $1. Look at it now!”
To conclude, half believe Cardano will show a striking price hike in the future once the chaos of Bitcoin drop dies down. The other half believe ADA will still continue to drop further as seen in represented in the past month’s graph.
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