Why a Crypto Analyst Bought $20K Worth of $ADA

Szabo’s Cardano Investment and Investment Philosophy

Pseudonymous crypto analyst Kara Szabo recently disclosed her purchase of $20,000 worth of Cardano ($ADA) at $0.2578, expressing her confidence in the asset.

Szabo plans to invest up to $100,000 through dollar-cost averaging if the price continues to decline.
She downplays the risks, stating that being wrong would have minimal impact.
Szabo urges followers to buy cryptocurrencies now rather than sell, as the current market conditions offer opportunities to accumulate assets at discounted prices.

Szabo’s Perspective on Crypto Market Trends

Szabo points out the historical downturns in the crypto market in September and predicts a 5% to 10% drop followed by a likely recovery in October.

Over the last six years, Bitcoin ($BTC) has generally been in the red during September.

Szabo’s Skepticism on Approval of Spot Bitcoin ETFs

Szabo expresses skepticism about the approval of spot Bitcoin ETFs by the SEC in 2023, indicating that she sees zero chances of such approvals happening this year.

Hoskinson’s Belief in Cardano’s Potential

Charles Hoskinson, Co-Founder and CEO of IOG, believes that Cardano has the potential to become the world’s largest cryptocurrency.

Hoskinson sees Cardano becoming more than just a cryptocurrency and becoming the backbone of a new digital nation.
He envisions a society where trust is regained and moves from “don’t be evil” to “can’t be evil.”

Prediction on Cardano’s Price in the Next Bull Run

The host of the DCA Crypto YouTube channel predicts that Cardano could reach between $3 to $7 in the next bull run.

While ADA reached $3 in the last bull market, the video argues that a 10-20x return is very likely in the upcoming cycle.

Overall, crypto analyst Kara Szabo expresses confidence in her Cardano investment and urges followers to take advantage of the current market conditions. Charles Hoskinson sees Cardano’s potential to become the world’s largest cryptocurrency, while the DCA Crypto YouTube channel predicts a significant increase in Cardano’s price in the next bull run.