Altcoin News Cardano News

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

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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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Satoshi Studio Launches First Ever Blockchain-Certified Sneakers

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Paris, 30th of May 2019. French brand Satoshi Studio announces the launch of their first sneakers. The Satoshi_one is the first pair of shoes certified on the Ethereum blockchain. More high-end products will come from Satoshi Studio thanks to their innovative financing campaigns.

Satoshi Studio was founded in 2018. The Parisian brand is influenced by the Tech industry and Crypto culture. It aims to create a place for itself as a reasonably priced high-end brand. To reach that goal, it will not use traditional channels of communication, striving instead to connect directly with its young and tech-focused community.

To be able to regularly offer new products and avoid traditional seasonality, the brand will launch several crowdfunding campaigns per year. Satoshi Studio believes in responsible shopping habits: they will only produce the right amount, no more, no less. The sneakers will be offered at a reasonable price, without compromising on quality.

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Why We Could See The Price of Bitcoin Quadruple Within Just a Few Months

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Bitcoin is ballooning to new highs… but can it last?

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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Bitcoin (BTC) Price Eyes Chart Pattern That Kicked Off Bull Market in 2015

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  • Bitcoin’s 50- and 100-candle moving averages on the three-day chart look set to produce a bullish crossover – a sign of bull market momentum. Back in October 2015, the same cross marked the start of a long-term bull market.
  • This time, BTC has already rallied more than 180 percent ahead of the bull cross. As a result, we may not see a big move to the higher side immediately following the confirmation of the bull cross.
  • Prices could rise to $8,400 in the next 24 hours, having witnessed a bearish channel breakout on Wednesday. A break below key 4-hour chart support at $7,910 would weaken the case for a rise to $8,400.

A long-term bitcoin (BTC) price indicator is about to turn bullish for the first time in nearly four years.

The 50-candle moving average (MA) on the three-day chart is trending north and could soon cross above the 100-candle,…

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Bitcoin’s Latest Pullback May Simply Be Part of its Current Uptrend, Here’s Why

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Bitcoin and the aggregated cryptocurrency markets have faced increasing selling pressure as of late that appears to have put their recently established upwards momentum in jeopardy. Despite this, BTC and other cryptos have yet to incur any massive influxes of selling pressure that lead to the formation of a quick downwards leg.

Although the recent influx of selling pressure does appear to be bearish, it may all be part of the current uptrend that the markets are in, according to one prominent crypto analyst.

Bitcoin (BTC) Continues Slow Downwards Grind

At the time of writing, Bitcoin is trading down over 2% at its current price of $7,770 and is currently trading just a hair above its 24-hour lows of $7,750.

Over a one-week period, Bitcoin has dropped significantly from its highs of nearly $8,800, which were set last weekend. It appears that the upper-$8,000 region remains a region of significant resistance for the…

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Analysts Foresee Bitcoin Surging to $10,000 Without a Pullback as it Hits $8,947

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The bitcoin price jumped on Monday, almost retesting the $9,000-level for the first time since May 2018 in what seemed like a clear bull run.

The world’s leading cryptocurrency climbed as much as 13.5 percent, measured from levels on Sunday noon, and was trading at $8947.88 as of 0100 UTC today on US-based Coinbase exchange. The jump brought bitcoin’s maximum year-to-date gains to 142.40 percent, attesting to the end of 2018’s infamous bearish phase that wiped more than 70 percent of bitcoin value from its all-time high at $20,000.

bitcoin price £10000 May June 2019

(Bitcoin Price Comes Closer to Retesting $9,000 After 12 Months | Image Credits: TradingView.com)

Bulls now believe that the cryptocurrency would retest its historic peak once again, even though it remains about $11,500 below the target at the time of this writing. The renewed buying sentiment finds…

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Bitcoin (BTC) Price Party’s Only Getting Started after 2019’s Monster 100% Surge

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According to eToro senior market analyst Mati Greenspan, bitcoin is in amidst a parabolic bull cycle and is on track to sustain its strong momentum over the medium to long term.

Since January, within less than six months, the bitcoin price has increased by nearly 100 percent against the U.S. dollar.

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With a 98% gain year-to-date, bitcoin has outperformed most assets in 2019
(source: coinmarketcap.com)

Still, despite its large short-term rally, Greenspan noted that the dominant cryptocurrency is only at the start of a bigger cycle that may lead to new highs for the asset.

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