Price analysis 9/9: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA
Bitcoin bulls are trying to push the price back inside the range, indicating that the markets have rejected the breakdown.
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Bitcoin bulls are trying to push the price back inside the range, indicating that the markets have rejected the breakdown.
Cardano (ADA) kicked off the new week on a rather slow note, mirroring the broader cryptocurrency market's subdued activity.
The Cardano price prediction reveals that ADA is moving bullishly with a gain of 3.37%, as the coin prepares for a bullish cross above the [...]
Charles Hoskinson has outlined the next steps for Cardano (ADA) following the successful implementation of the Chang hard fork last weekend.
Charles Hoskinson congratulated the effect of the newly launched Snek.Fun, which saw Cardano hit a new daily trading volume high.…
The post Cardano Founder Congratulates Cardano for This New Achievement first appeared on The Crypto Basic.
SingularityNET (AGIX) has published its biweekly development report, detailing significant progress in areas such as the Daemon, Developer Portal, and Cardano Hardfork support. (Read More)
Cardano’s native token ADA has displayed significant volatility compared to 18 other cryptocurrencies. This observation is based on the study of its one-year performance tracked via Bloombergs USD generic price index. The chart shows that ADA often exhibits strong upward momentum during bullish market phases, but struggles to hold onto the gains, frequently posting steeper […]
Despite the bearish sentiment that has engulfed the broader cryptocurrency market since September, ADA appears ready to extend its gains.
Cardano’s blockchain took a major step forward with the Chang hard fork on September 1, 2024. This marks the networks entry into the Voltaire era, ushering in new governance systems. Users can now participate in decision-making, delegate votes to representatives (DReps), or opt out entirely. But this shift has also sparked concerns among ADA holders. […]
With the Chang hard fork completed, the long-awaited Conway era has begun on Cardano. With this crucial development, the network took a giant leap towards complete decentralization. One major change is the inclusion of the CIP-1694 governance model, which gives ADA holders more say in network decisions via active voting.
Bitcoin bears have pulled the price below the support of the range, starting a potential downtrend toward $49,000.
In a new video analysis, popular crypto analyst Dan Gambardello delved into the potential future of the Cardano (ADA) price amidst the troubling forecasts of a US recession. With a significant following of 369,000 on YouTube, Gambardello highlighted the general unease among ADA holders and general crypto investors due to the ongoing economic discourse surrounding a potential recession. Will Cardano Bottom In December? He drew parallels between historical S&P 500 behavior and current market conditions, noting, “On average the S&P 500 bottoms three months after a recession begins, but 10 months before the recession ends.” This observation is crucial as it sets a potential timeframe for when investors might expect the crypto market, including ADA, to bottom out. I give it a 50/50 odds that we’re in a recession now. Check this out. The Fed has signaled that September interest rate cut is coming all but two times in history when the Fed has started to cut rates, a recession followed, Gambardello suggested and explained that recession starts are usually only declared to have started once they have already begun. He further explained that the prevalent discussion about the US already being in a recession could impact investment strategies. According to Gambardello, if history repeats itself, the market could see its lowest point in December 2024. He based this on a detailed look back at market downturns since 1957, which typically show significant movements three months following the onset of a recession. Related Reading: Stunning Fall From Grace: Cardano Suffers 90% Plunge In Market Share Since 21 I just think whenever the bottom will be in, it is going to be explosive […] oftentimes [they declare] it 10 months later and they’re like hey, you know what, the recession started 10 months ago. Nobody, there’s no exact science to when it starts, not like a set date but 3 months after it, the bottom is in for markets, the crypto analyst noted. Gambardello then addressed the Federal Reserve’s signals about upcoming interest rate cuts, which historically have been followed by recessions. This pattern adds another layer to the already complex market analysis, suggesting that a recession might indeed be imminent or already underway. “All but two times in history when the Fed has started to cut rates, a recession followed,” he remarked, highlighting the gravity of the current economic signals. Shifting focus to Cardano, Gambardello juxtaposed ADA’s current market performance against its historical data. He pointed out that, similar to previous cycles, ADA is currently down by 89% from its peak, closely mirroring its past downturns where it was down by 94% at similar points. Related Reading: Crypto Analyst Explains Why Cardano Remains Fundamentally Bullish Were down 89%. So put it all aside, Cardano is not doing anything different than it did last cycle. And the one thing I did notice though was from this 2018 high to when Ada made its way to where we are right now is, that was around 992 days after that all-time high. This time around and this is why I think it feels a little bit more painful for Cardano holders this time around, we’re looking at almost 1,100 days from all-time high to this moment right so it’s been very grueling, Gambardello stated. Moreover, he analyzed Bitcoin’s influence on altcoins like Cardano. He discussed the potential for an ‘altcoin season,’ a period when altcoins typically surge if Bitcoin’s market dominance begins to wane. According to his analysis, such a season isn’t currently in play but could be on the horizon, correlating with his predicted market bottom in December. Most altcoins, especially the blue chips, especially the top altcoins, are going to fly when market bottoms and crypto bounces, Gambardello said. Concluding his analysis, Gambardello adopted a cautiously optimistic tone. He acknowledged the uncertainties inherent in predicting crypto markets but underscored the importance of historical patterns and current economic indicators in formulating investment strategies. He advised his viewers to stay vigilant, keep an eye on market data, and be prepared for more potential downside, but also be ready for an explosive growth period that has historically followed recessions. At press time, ADA traded at $0.3218. Featured image from Shutterstock, chart from TradingView.com
There has been debate within the Cardano community about the proposition to burn $500 million worth of ADA tokens held…
The post Heres What Hoskinson Has to Say About the Proposal to Burn $500M in Cardano Treasury first appeared on The Crypto Basic.
Popular AI resource ChatGPT recently commented on the intriguing question of which crypto, XRP or Cardano (ADA), will be the…
The post XRP or Cardano: Which Will Reclaim $1 First? ChatGPT Predicts Timeline first appeared on The Crypto Basic.
Want to buy Cardano (ADA) and still confused about which platform to use? Look no further! Check Bitget, and this full guide, step by step...
Cardano (ADA) finds itself at a potentially pivotal juncture as renowned analyst Dan Gambardello identifies a bullish divergence in its price action against Bitcoin, drawing striking parallels to a similar pattern observed in 2020. This technical formation has sparked speculation about a possible massive rally for ADA, reminiscent of its
Cardano analyst Dan Gambardello predicts a potential 1,000% rally for ADA against Bitcoin, citing a bullish divergence similar to 2020’s…
The post Cardano Bull Predicts ADA Could Soon Rally 1,000% Against Bitcoin first appeared on The Crypto Basic.
Cardano and Hedera join the Decentralized Recovery Alliance alongside Ripple and Algorand to shape the future of crypto security standards.
In the early trading session Wednesday, the price of Bitcoin continued its precipitous decline from Tuesday, falling to a low of $55,555. As a result, Bitcoin and other major cryptocurrencies fell to levels not seen in a month. The worst time for global markets since the crash of August 5
In a Wednesday blog post, Hayes shared his revised outlook for Bitcoins price movement, contradicting his earlier bullish stance.
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