Bitcoin Veteran Rejects Cardano's Value, But Price Prediction Shows $2 ADA Scenario

Adam Back, one of the few people mentioned in the original Bitcoin whitepaper by Satoshi Nakamoto himself, has ended speculations about Cardano’s academic impact. 

Responding to a discussion online, Back said he has "not noticed anything of value" coming from Cardano’s many research papers, calling the effort more of a marketing strategy than real innovation.

Interestingly, marketing is something that Charles Hoskinson, creator and leader of Cardano, previously marked as a weak point for the ADA blockchain.

One may recall how, previously, Back noted that Cardano’s team had strong academic knowledge, but he also warned that proof-of-stake systems "do not work" in practice. 

His latest remarks show that his opinion on the project has not improved, even despite the efforts of Cardano's development team, to impose a narrative of it becoming the ultimate Bitcoin layer-2 solution.

New Cardano (ADA) price prediction made

While Cardano faces criticism from one of the most respected voices in the Bitcoin community, price analysts remain focused on the charts. Ali Martinez, a well-known market commentator, posted a technical setup showing ADA trading around $0.80, with a key support level at $0.69. 

For the analyst, this level could be the best dip to buy before a possible rally toward $2. The chart highlights a large consolidation pattern, with upside targets at $1.30, $1.70 and close to $2 if the breakout is confirmed.

So, on one side, Back dismisses Cardano’s contribution to the wider crypto industry. On the other, technical analysis points to a possible strong rebound in price. It leaves all to ADA’s next move to show whether investor confidence follows fundamentals or short-term market signals.