Amid increased price fluctuations in the crypto market, Crypto Capital Venture founder Dan Gambardello is bullish about Cardano’s (ADA) future. In his latest , Gambardello compared Amazon’s stock price trajectory to Cardano’s, highlighting striking similarities between both companies.
While he acknowledged ADA’s two-year-long bearish market conditions, the analyst believes that, like Amazon, Cardano has the potential for long-term growth. Since both entities’ technology differs with varying achievements, he compared the underlying principles and price action.
Cardano’s (ADA) Current Market Condition Is Similar To Amazon’s Early Years
Gambardello highlighted Amazon’s historical price performance between 1999 and 2001. According to him, Amazon stock from a $5.25 all-time high price to 30 cents between this timeframe.
Similarly, ADA’s value, which rose above $3 during the bull market in September 2021, has now plummeted to 25 cents. Therefore, the analyst likened buying ADA in 2023 and acquiring Amazon stocks in 2001.
This is particularly true given Cardano’s growth potential in the financial market. Moreover, Gambardello forecasted that Cardano (ADA) could become the world’s number one financial operating system.
In addition, he mentioned that currently, ADA’s market cap is approximately $8.9 billion. That is even 90% higher than Amazon’s market cap of $2.2 billion after a similar crash in 2001.
The crypto analyst cited a from Jeff Bezos to Amazon shareholders during the downturn. In the letter, Bezos stressed that Amazon stood stronger despite the massive stock price drop.
In his comparison, Gambardello drew similarities between ADA’s current position and Amazon’s during the downturn. He noted that Cardano Blockchain is more robust and better than before, citing improved smart contracts, scalability, and staking utility.
Cardano Has Potential For Long-term Success Like Amazon
Gambardello also likened ADA to the stock market, quoting a prominent crypto investor, Benjamin Graham. He : “The stock market is a voting machine in the short run and a weighing machine in the long term.” Also, he noted that, like Amazon, Cardano’s fundamentals are strong enough to sustain it even in harsh economic conditions.
The crypto analyst emphasized that Cardano is in the initial stages of user adoption, with several developers building on its network. It is similar to Amazon’s commitment to enhancing customer experience, which fueled its long-term growth.
Again, Gambardello shifted focus to Cardano’s security and decentralization. He explained that Cardano’s robust security and decentralization give it an edge over other blockchain networks like Solana.
He further mentioned that several startups have adopted Cardano as of September 2023. For instance, to connect the unbanked and financially underserved people. According to Gambardello, this real-world use case is a game changer and starting point for Cardano’s success.
In conclusion, the analyst said Cardano has numerous unexplored potentials with striking similarities to Amazon’s early days. Therefore, he is confident that Cardano has a high potential for long-term success and could offer massive returns to investors bullish enough to see it.