Cardano price could easily set a new all-time high if it follows Bitcoin price movements as the premier crypto hits the $1 million price predicted by Bernstein.
The market has not been favorable to Bitcoin (BTC) in recent times, as the leading crypto asset collapses 16.5% from its all-time high above $73,700 attained on March 14. Bitcoin’s underperformance has had a negative impact on the broader market, with altcoins like Cardano (ADA) also taking the heat.
Cardano Price Correlation with Bitcoin
Interestingly, when BTC reached its peak price of over $73,700 on March 14, ADA also surged to a high of $0.8104. This represented Cardano’s yearly top and its highest price since April 2022, before the infamous Terra ecosystem collapse.
As Bitcoin retraced the Q1 2024 gains, Cardano has similarly declined. Currently trading for $0.3881 at the reporting time, ADA has slumped by 52.08% from the March 14 high. This is as a result of…
