Cardano ADA is currently undergoing one of its most intense bearish phases. The token is unable to move past the $0.40 price range and is strongly awaiting the coveted Chang Fork Upgrade, which may boost its price prospects. However, in the midst of it all, Charles Hoskinson, founder of Cardano, has recently shared a surprising insight, stating reasons why Cardano is better than Bitcoin and could soon surpass BTC.
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Hoskinson’s Views on Bitcoin
In a recent podcast, Hoskinson revealed insightful details on why he believes Cardano could soon surpass Bitcoin. He shared how Bitcoin, being the original crypto, has very little scope for experimentation and tinkering. The ADA founder later emphasized how the crypto innovation was deficient, comparing it to platforms like Yahoo and Myspace.
“Bitcoin is dead in the water. The only value proposition it has is that it is big and successful. That’s it.”
Speaking in awe of Cardano, Hoskinson revealed reasons for emphasizing the elements that make ADA different from Bitcoin. He shared how ADA embraces the amalgamation of different chains and their integration to form a common footing. He later shared how Cardano was made to be a flexible chain, whereas Bitcoin has little to no room for change.
The ADA founder also stressed the long-term impact of ADA and Bitcoin on the market. As ADA embraces change and innovation, Hoskinson concluded that Cardano ADA could soon surpass Bitcoin in terms of innovation, community model, and sustainability.
Cardano Stats Display Another Story
Hoskinson’s optimism towards ADA can be dubbed particularly commendable, as the token has noted a sharp decline in its price throughout this year. ADA currently sits in the $0.40 price range, unable to break past the critical price juncture.
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According to CoinCodex, the current investor sentiment for Cardano seems bearish, with its price hitting a modest $0.46 price value in August 2024.
“According to our current Cardano price prediction, the price of Cardano is predicted to rise by 13.27% and reach $0.461241 by August 28, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 74 (greed). Cardano recorded 15/30 (50%) green days with 6.66% price volatility over the last 30 days.”
The token is anticipating the integration of Chang Hard Fork, which can drastically boost its price prospects. The update is 33% complete and may soon be embedded into the ADA system to usher in community-centric elements into the chain.