Famous analyst Benjamin Cowen, Cardano 
$0.768917‘s (ADA) Bitcoin 
$91,963He stated that it may lose value by the end of the year. In his post on social media platform X, Cowen emphasized that ADA has historically fluctuated within a certain range against Bitcoin and that current market conditions support the repetition of this pattern.
ADA/BTC Historical Data and 2023 Forecasts
Cowen reminded that ADA has traded between 400 and 4,000 satoshis against Bitcoin in the past. He stated that there is usually a decline towards the end of the halving years and that this trend may continue in 2023. Stating that economic indicators also support this prediction, the analyst stated that the tight monetary policy and the appreciation of the US dollar negatively affect risky assets.
Drawing attention to the general view of the altcoin market, Cowen explained that the TOTAL3-USDT chart shows that altcoins are not gaining strength against Bitcoin. “ADA/BTC may fall once again before the end of the year and rise in 2025,” Cowen said, adding that historical data and market dynamics point to this prediction.
Bitcoin Dominance and Economic Impacts
Cowen emphasized that Bitcoin dominance has historically increased in December during halving years. The continuation of monetary tightening policy may cause pairs such as ADA/BTC to weaken. “QT expiration could have stopped the ADA/BTC decline, but current conditions favor the decline,” Cowen said.
Explaining the movements of ADA/BTC rates between 2020 and 2024 with graphs, Cowen showed that historically this pair fluctuated with certain cycles. However, the analyst said, “Although Altcoin/BTC pairs are above historical lows, market conditions are still suppressive.”
Economic data and market trends indicate that the altcoin market will continue to remain dominated by Bitcoin. While ADA is expected to lose value in the short term, it is stated that there is a possibility of recovery in the long term. According to Cowen’s analysis, investors need to closely monitor current economic conditions and historical patterns.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
