Altcoin News Cardano News

Cardano (ADA) Bitcoins Rival is Up Almost 50% So Far This Year – Here is Why?


Bitcoin has been flatling since taking a sharp dive late last year but the market for some minor cryptocurrencies, known as altcoins, has risen—with some digital tokens making major strides.

The bitcoin price is down some 80% from its all-time highs set more than a year ago and remains trapped in a long-running bear market, dubbed crypto winter for its debilitating effect on the industry, and leaving investors and traders desperately looking for alternatives.

While some coins have been making well-publicized strides, cardano, currently the tenth largest cryptocurrency by market capitalization with a value of just over $1.5 billion, has been quietly climbing in price.

The bitcoin price has been trading sideways for months after losing ground late last year.

Cardano, which trades its digital token under the name ADA, is up some 22% over the last seven days, breaking into the top 10 biggest cryptocurrencies by market cap. The cardano price is up a little over 30% over the last 30 days and almost 50% so far this year, according to prices from CoinMarketCap, a cryptocurrency price data tracker.

“The great crypto winter seems to be drawing to a close and we’re now seeing things start to thaw out as we enter spring,” said Mati Greenspan, senior market analyst at brokerage eToro.

“During this period, often dubbed altseason, bitcoin is making mild gains as some of the smaller cryptos are seeing massive gains and losses as alternative investors readjust their respective portfolios. Cardano is naturally one of the altcoins that investors are bullish on at the moment.”

Cardano, created in late 2017 amid the global cryptocurrency gold rush, saw its price soar to over $1 per ADA token at the beginning of 2018 before falling sharply back along with the wider crypto market.

Cardano Coindesk ADA Chart 2019 03 25The cardano price is still far from its all-time highs despite the recent rebound.
(Image Source : COINDESK)

Cardano, a non-profit platform with three separate bodies responsible for its maintenance and development, is run by a team of academics and engineers who are trying to find ways to better scale and secure a blockchain network and are working on integrating smart contracts.

Cardano has been pushed on over the last few days by the release of a new network version, seen as an important step towards the highly-anticipated so-called proof-of-stake Shelley upgrade.

The wider cryptocurrency market, including the second largest cryptocurrency by market cap ethereum, has been working on a move to proof-of-stake from proof-of-work, expected to reduce energy use and improve security.

The latest cardano network version means ADA will use a new consensus protocol known as Ouroboros BFT, helping it to fend off potential 51% attacks that can cripple a cryptocurrency.

CoinMarketCap Crypto Price Table

Cardano’s recent price rise has seen it break into the top 10 cryptocurrencies by market cap.
(Image source : COINMARKETCAP)

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Editor : Billy Bambrough
Crypto & Blockchain

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FCA finalizes its statement on crypto after a public consultation released in January

On July 31, the FCA issued its finalized policy statement on cryptocurrencies in a document titled “PS19/22: Guidance on Cryptoassets.” The document represents an updated version of a consultation paper on crypto assets that was first released for public comment in January 2019, and intends to bring more regulatory clarity to the existing types of digital assets.

In the document, the FCA considered major cryptocurrencies such as Bitcoin and Ether (ETH) as “exchange tokens,” describing them as types of crypto assets that are “usually decentralized and primarily used as a means of exchange.” The regulator emphasized that such digital currencies do not fall under the regulatory scope of the FCA and is outside its…

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A bitcoin price indicator is about to turn bullish for the first time since the early stages of the 2016-17 bull market.

The 50-candle moving average (MA) on bitcoin’s three-day chart is in a solid upward trajectory and looks set to cross above the 200-candle MA in the next few days.

That would be the first golden crossover on the three-day chart since early February 2016. CoinDesk reported on a golden cross for bitcoin’s daily chart back in April.

Seasoned traders often refer to that long-term bull market signal as a lagging indicator. After all, the MA studies are based on historical data and tend to lag prices, which also means they have limited predictive abilities at best.

While that is true for most crossovers, the one that is about to happen on the three-day chart has proved its mettle as a reliable bull market indicator in the past.

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Garrick Hileman Explains Why Bitcoin (BTC) is on The Rise This Year!


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Dr Garrick Hileman is head of research at Blockchain and research associate at the London School of Economics

Garrick is best known for his research on monetary and distributed systems innovation, particularly cryptocurrencies and blockchain technology.

Hileman Garrick was ranked as one of the 100 most influential economists in the UK & Ireland. He is regularly invited to speak and share his research and perspective with public sector institutions, including the CIA, US Army and Naval War Colleges, Federal Reserve, Bank of England, Bank of International Settlements, and the Financial Stability Board, as well as media, including the BBCCNBCFTWSJ, and NPR.

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Bitcoin Price Passes $10,000 as Cryptocurrency’s Spectacular Recovery Continues


The price of bitcoin has broken above $10,000 (£7,855) for the first time since March 2018, as the cryptocurrency’s remarkable surge in value continues.

Bitcoin passed the milestone after experiencing gains of more than 10 per cent over the last 24 hours.

The price jump saw the world’s largest cryptocurrency reach as high as $10,831, according to the CoinMarketCap price index, taking its overall market capitalisation close to $200 billion.

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Compound interest might be the most powerful force in the universe, but FOMO can’t be far behind, especially as it relates to bitcoin.

We’ve seen the “fear of missing out” contribute to a nosebleed rise in the price of bitcoin BTCUSD, before, and Fundstrat’s Thomas Lee believes we’re about to see it play out again — but even more pronounced.

The outspoken bitcoin backer told clients this week the world’s top cryptocurrency could ride a wave of FOMO all the way up to $40,000 “within a few months,” thanks to better transparency and a breach of the psychological $10,000 barrier.

He pointed to Grayscale Bitcoin Trust GBTC, as a great way to partake in a rally that would be most welcomed by the crypto bulls who had to suffer through a 74% drop in the price of bitcoin last year.

“Bottom line: Crypto winter looks over,” Lee said….

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