Cardano Price: Bearish Pressure Triggers Slippery Slope

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Any indication of positive momentum maturing across the cryptocurrency markets will seemingly not happen anytime soon. With the Bitcoin price still in the red, altcoins will not see much of an uptrend today. The Cardano price is a good example, as it continues to lose value at a very quick pace over the past few hours. Cardano Price Takes a Beating It is far from uncommon for alternative cryptocurrencies to lose value when the Bitcoin price is not going through a positive spell. Even when the value of Bitcoin rises, there’s no guarantee altcoins will see similar momentum. These past few days have not been positive for the altcoin industry as a whole. Looking at the Cardano price, it seems there may be even more trouble on the horizon. Over the past 24 hours, the Cardano price has faced a 6.15% setback. Due to this rather steep decline, its value has dropped below $0.135 once again. It remains to be seen how things will evolve in this regard, albeit the current trend does not instill too much confidence where this particular altcoin is concerned. If the current momentum is any indication, there may be an even bigger decline on the horizon for Cardano. The fact this altcoin is losing value compared to Bitcoin is not helping matters much either. More specifically, the ADA/BTC ratio has decreased by 6.02% in the past 24 hours. Given Bitcoin’s current dip and sideways trading, it is evident things are not looking good for any…
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