Cardano (ADA) had eventually given way to the bears which had then dragged it down below $.30 for the second time in two months.

However, this time around, there was no recovery to save the digital asset and it would continue to spiral down. It has now lost more than 14% of its value in the space of a week and is down by almost $0.050 in the same time frame. 

It is also possible that the market bottom has not been established yet. If this is to be believed and bitcoin were to drop to $12,000, or as low as $10,000 as predicted by some in the space, then it could mean that ADA holders will record more decline in the value of their holdings. If the market were to decline another 30%, then ADA price could drop as low as $0.10 before the next bull rally begins.