Last time BTC reached an ATH, ADA’s value also touched an ATH just 90 days later, but this time the case is differentgot impacted by it. However, investors must not lose hope, as historical data suggests that the possibility of ADA initiating a bull rally is high.The crypto market tends to follow Bitcoin, and since the king of crypto’s value plummeted under $66k, most crypto charts also turned red. Cardano was not an exception, as its value sank by more than 12% in the last seven days.
Since BTC’s price touched $73k a few days ago, if history repeats itself, then investors might witness ADA begin a bull rally soon. Such low MVRV ratios often trigger trend reversals. Additionally, its network-to-value ratio registered a sharp downtick. Whenever the metric drops, it indicates that an asset is undervalued, hinting at a price uptrend in the coming days.
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