Cardano co-founder Charles Hoskinson harshly criticized Peter Brandt for his analysis of the ADA.
Famous analyst Brandt recently claimed that there were serious problems in his analysis of ADA, depending on the market trend. Sharing a chart on Twitter, the analyst stated that the popular token drew a falling triangle formation. Referring to this formation, he suggested that such a project is close to breaking the support level.
Renowned Analyst Peter BrandtDispute Between ADA Co-Founder and Peter Brandt
Claiming that there is a downward trend in the middle with the chart sharing, Brandt made a statement without comment. After this post, ADA co-founder Hoskinson got angry.
Quoting the analyst’s share, Hoskinson said;
“It seems like graphic people forget to think that there is a world outside once again. Like central banks, countries, economies, supply chains and even wars… Isn’t it surprising? Also, all these factors actually have an impact on the markets. I am very surprised.”
With these statements, the founding partner stated that there may be various factors on the market. Hoskinson underlined that cryptocurrencies cannot be interpreted based on chart analysis alone. While the analyst’s post was only shared as a graphic interpretation, the effect that the factors could create was highlighted.
ADA’s price performance is usually shaped by the direction of the market. Especially, while the Vasil update was expected to create an increase, the price did not move. The analyst claimed that there could be a problem, implying that even a major update did not affect the price.
ADA performed well compared to the rest of the market, with 12% gains in the last six days.
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