After a resilient performance on Tuesday, the crypto market buckled under the strong bearish sentiments created by the SEC’s hawkish regulatory actions. Bitcoin fell below the $27K mark, while Ethereum is barely holding on to $1.8k.

Once again, Cardano is taking the major brunt of the widespread FUD in the market. The 7th largest cryptocurrency fell almost 10% over the last week, with most of the loss coming in the last 2 days. Experts are now gravely concerned over the long-term prospects of ADA.

While Cardano’s future remains murky, the yPredict sees growing demand for traders, with the new AI token having now raised over $2 Million. Let’s take a look at Cardano’s prospects for this month and why traders are backing yPredict to outperform the wider bear market.

Cardano Price Prediction Remains Bearish in June, Legal Troubles Ahead

Cardano remains one of the most volatile assets, even by the standards of the cryptocurrency market. ADA is currently trading 90% below its all-time high of $3.09 that it reached on the 2nd of September, 2021.

The token’s current troubles can be attributed to the SEC suing Binance and Coinbase, two of the largest crypto exchanges in the world. The top watchdog alleged that these exchanges were operating illegally and offered the sale of those crypto tokens that are unregistered securities. One such token mentioned in the lawsuit is Cardano.

If the SEC is able to prove in court that ADA is a security, it will deal a major blow to the entire crypto industry. Experts believe that Cardano may have to deal with suffocating regulation, which will bring down its value.

The CEO of Cardano Foundation, Frederick Gregaard, has strongly objected to the SEC’s labeling of ADA as security and hopes to work with lawmakers to achieve legal clarity. However, that did not stop investors from panic selling the token as ADA slipped over 7% in the last 24 hours. It is currently trading at $0.32.

Cardano saw its trading volume surge 31% to $396 million over the last 2