Cardano's ADA Faces Decline After Hoskinson's Bitcoin Criticism

According to Cointelegraph, Cardano (ADA) prices have experienced significant declines following negative comments about Bitcoin (BTC) by Charles Hoskinson. The ADA/BTC trading pair has dropped by 75% nearly two years after Hoskinson questioned Bitcoin's viability in an October 2022 interview. During the conversation, Hoskinson suggested that BTC should be used on faster blockchains like Cardano or Ethereum as a wrapped asset. At that time, ADA/BTC was trading at 2,188 satoshis, but by September 3, 2024, it had fallen to 562 satoshis, nearing its lowest levels since December 2020. This pattern of decline following Hoskinson's critiques is consistent. For instance, after his June 2021 comment likening Bitcoin to a