Crypto analyst Benjamin Cowen, Ethereum $3,241.9‘s rival Cardano 
$0.984798He warned that (ADA) may experience a sudden decline due to an important factor. In a video update to his 857,000 YouTube subscribers, Cowen noted that the value of ADA could drop significantly if bad U.S. economic data emerges.
The Role of Economic Data
Cowen stated that if unemployment or inflation rates remain within expectations, ADA could repeat a historical pattern and rise above its local peak of around $1.20.
Analysis of Past Performance
Reviewing ADA’s performance a year ago, the analyst predicts a similar pattern could repeat, resulting in a decline of more than 20% from its current value. He stated that this situation could cause the ADA/USD parity to fall below the levels between 0.75 and 0.85 dollars.
Adverse Scenarios
“In the short term, ADA may show some weakening here. “If the employment rate or inflation actually rises, there could be a larger sell-off in ADA.” –Benjamin Cowen
Currently, ADA is trading at $0.95, down 2.6% in the last 24 hours. Cowen emphasizes that this fluctuation experienced by ADA should be monitored carefully in the coming period.
The analyst stated that in addition to repeating historical data, economic indicators also play an important role in the cryptocurrency market. Therefore, he stated that investors should follow economic data closely.
Investors who want to learn more about ADA’s current status and possible future movements can continue to follow Cowen’s analysis.
ADA’s future performance will largely depend on the course of US economic data. Positive data can increase the value of ADA, while negative data can lead to significant declines.
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.
