Benjamin Cowen, the popular cryptocurrency analyst, is cautioning investors to be wary of the potential losses of Cardano (ADA) and other altcoins when paired against Bitcoin (BTC). Cowen notes on Twitter that ADA could bottom out to around 0.00000400 BTC, a drop of nearly 70% from current levels that could leave Cardano valued at roughly $0.11.

Cowen's sentiment could very well be rooted in personal experience, noting that seemingly-insignificant losses over time compound and can lead to a 90-95% depreciation of an altcoin against BTC. To illustrate this point, the analyst gives the example of Chainlink's performance against Bitcoin from the period 2018 - 2022, noting the overall uptick of LINK against BTC during a bear market could signify a strong performance during the next bull market.

The analyst also provides a chart indicating the likely timeline of ADA when paired against Bitcoin. This timeline suggests that the seventh-largest cryptocurrency by market cap could hit its final support level in the third quarter of 2023. If this is indeed the case, there may be sufficient time for investors of Cardano to reevaluate and prepare for potential losses.

Regardless, tempered optimism is key when trading in Bitcoin or altcoins. Cowen's timely advice serves to remind the cryptocurrency community that the overall trend of an altcoin against Bitcoin is more relevant than its daily movements, as the former can often serve as a solid predictor of future performance.



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