This Crypto Costs $0.17 Now, Here’s Why It Could Reach $10

Cardano (ADA) has become one of the most popular cryptocurrencies to talk about lately, and as time passes, more and more people start to see its potential. With awareness, there also comes speculation, and some of the Cardano discussions have been revolving around its price and its potential growth in the future. It would seem that one of the most popular opinions right now is that Cardano has the potential to go up as high as $10 within the next 5 years. Can this really happen?

About Cardano (ADA)

Cardano is a blockchain-based, open-source technology. Like many other cryptos, it provides its users with smart contracts, and the ability to develop dApps, as well as make various transactions.

Cardano only appeared in September of last year, but in a few short months, it managed to climb up the ranks, and take its place as the 8th top cryptocurrency, according to CoinMarketCap. This is a massive achievement in itself, for such a new crypto to join a top 10 group in just a few months. However, ADA did not stop there. During the golden age of cryptos at the end of the previous year, it’s price reached $1, which was its all-time high.

Of course, after the value of cryptos dropped at the start of 2018, Cardano went down as well. Its price continued to struggle with the market changes, just like those of other cryptos, and it currently sits at $0.175066 per token.

So, why is everyone so excited about this cryptocurrency, and why is its price expected to go as high as $10, which is ten times higher than its all-time high so far?

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The Surprising Reason for Ethereum’s Price Jump Today

  • Ether, the cryptocurrency powered by the Ethereum blockchain, was trading up over 7% after a Securities and Exchange Commission official said the agency did not view the crypto as a security.
  • Such a designation would put the token under the agency’s authority.
  • Watch ether trade in real time here.

Ether, the cryptocurrency powered by the Ethereum blockchain, spiked Thursday after a Securities and Exchange Commission official said the agency did not view the crypto as a security.

Speaking at Yahoo Finance’s All Markets Summit, William Hinman, the SEC’s director of corporate finance, said the agency did not view bitcoin or ether as securities. Such a designation would require certain exchanges that facilitate trading of the cryptos to register with the agency. Thursday’s announcement was the first time the SEC provided regulator clarity on specific coins.

“Based on my understanding of the present state of ether, the Ethereum network, and its decentralized structure, current offers and sales of ether are not securities transactions,” Hinman said.

Bitcoin has long been viewed by market participants as a commodity, which falls under the auspices of the Commodity Futures Trading Commission. But it has been less clear whether regulators would deem ether, which…

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Top Price Predictions for Bitcoin, Ethereum and Ripple

  • Bitcoin, Ethereum, and Ripple suffer another major sell-off, extending their falls.
  • The three cryptocurrencies have very different technical pictures.
  • The Confluence Detector shows clusters of technical levels according to their importance.

BTC/USD has strong support at $6,381

The price of Bitcoin has support at $6,381. This is the convergence of the Bolinger Band one-hour Lower, the Pivot Point one month Support 1, the Pivot Point one-day Support 1 and the 1h-low.

If BTC/USD holds onto this critical level, it could target $6,637 which is the confluence of the Fibonacci 38.2% one-day, the 4h-high, the Simple Moving Average 100-15m, and the Bolinger Band 15m-Upper.

The next level above is $7047 which is the one-month low.

And what happens if Bitcoin loses $6,381? Things could get…

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Billionaire Investor Explains Why Bitcoin Will Hit $250,000 in 2022

Few billionaire investors have been so vocal and bullish on Bitcoin and cryptocurrency price appreciation as Tim Draper, the founder of venture capital firm Draper Fisher Jurvetson.

TheStreet sat down with Draper in early May at the Collision tech conference and later chatted after Draper spoke at the Federal Reserve in San Francisco in mid-May, where he told the people at the organization in charge of U.S. monetary policy that it might be time for them to think about getting new jobs as centralized fiat currencies gradually get replaced by decentralized cryptocurrencies.

In an exclusive interview with TheStreet, Draper weighed in on where he thinks Bitcoin’s price will be in the future, cryptocurrency regulation and price volatility. What follows is a condensed and lightly edited transcript of our discussion.

TheStreet: Let’s jump right in. Former chairman of the Commodities and Futures Trading Commission Gary Gensler recently argued that Ripple, Ether and other cryptocurrencies should be 

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Why are Bitcoin prices PLUNGING??

There has been a sharp drop in the price of bitcoin and other virtual currencies after South Korean cryptocurrency exchange Coinrail was hacked over the weekend.

A tweet from Coinrail confirming the cyber-attack sent the price of bitcoin tumbling 10% on Sunday to two-month lows.

The world’s best-known cryptocurrency lost $500 (£372) in an hour, dropping to $6,627 on the Luxembourg exchange Bitstamp, while most other digital currencies also recorded large losses.

The latest attack highlights the lack of security and weak regulation of global cryptocurrency markets.

Coinrail later said in a statement on its website that its system was hit by “cyber intrusion” on Sunday, causing a loss for about 30% of the coins traded on the exchange. It did not quantify the value, but the local Yonhap news agency estimated that about 40bn won (£27.8m) worth of virtual coins was stolen.

Coinrail said: “Seventy percent of total coin and token reserves have been…

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What’s Next for Bitcoin: Soaring to $14,000 or Falling to $1,600?

Investors are aching to see some kind of a meaningful trend emerging for Bitcoin. But the only thing that you can see from the Bitcoin price for the past few months is just a sideway movement and a narrow range. Since February 2018, we have marked a high of $11,784 and low $5,922 and ever since, we have been trading in this range. In fact, most recently, from April 6 until today, the range is even narrower; $6,513 to $9,795.

The average true range, five-day exponential, has dropped to its lowest level of $231 for this year. Since the start of this year, the dominant trend for this has been skewed to the downside.

Similarly, the 90-day volatility index has also taken a nose dive and it is almost in a free fall. I do think this is about to change, because, firstly; we have started to trade in a narrow range- not normal for the Bitcoin price, finally, the 90-day volatility is in a free. Bitcoin isn’t an animal which can be put on a leash that easily.

It may be premature to say that the bottom is firmly in place because in order for that to happen, we would need to break the price level of…

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BREAKING: New comments about Bitcoin from Warren Buffet and Jamie Dimon

JP Morgan chief executive Jamie Dimon continues to Wall Street’s biggest bitcoin critic while legendary investor Warren Buffet joins the hate wagon.

Jamie Dimon and Warren Buffett have been spending time together this week. As two of Wall Street’s highest-profile figures, the two billionaires penned a joint editorial in the Wall Street Journal on Wednesday, offering their take on why short-termism in the practice of revealing quarterly earnings among public companies is hurting the economy.

Appearing in televised joint interview on CNBC that aired Thursday, both Dimon and Buffett were reminded of their widely-publicized criticisms of bitcoin.

“You both have said some pretty nasty things about bitcoin recently,” the CNBC host said with subtlety, adding: “Which one of you hates bitcoin more?”

“I set a high standard,” Berkshire Hathway Chairman and chief executive Warren Buffett said in response. The business magnate has delivered several withering criticisms in the past including calling bitcoin a ‘real bubble’, suggesting cryptocurrencies will see a “bad ending”, suggesting investing in bitcoin is akin to gambling and most infamous of all, calling bitcoin “rat poison squared” as recently as…

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This Research Firm Just Cut Its Bitcoin Price Target – Learn Why Here

Major digital currencies have drifted into the red in Wednesday afternoon trading, erasing gains from the prior session. Bitcoin, the worlds biggest digital currency, continues to lack direction, hovering around $7,500.

The lack of activity and inability to recover losses early in 2018 prompted research firm Trefis to lower its year-end price target for the No.1 digital currency. “Adjusting our forecast for transaction volumes in our interactive Bitcoin Price Estimator now leads to a year-end price target of around $12,500—down from our earlier estimate of $15,000,” or about 17%, according to Trefis in a June 5 research note.

“The global cryptocurrency industry has seen a flurry of new developments since December. Many of these developments had a negative impact on the growth prospects of cryptocurrencies, like restrictions by banks on the use of credit cards to buy cryptocurrencies, and calls by financial regulators across the world for caution while investing in digital currencies.”

The Trefis Price Estimator tracks the current price trend with two inputs; daily active users and daily transaction volume and according to its website has an accuracy rate of over 94%.

A single bitcoin BTCUSD, -1.34%  was last valued at $7,516.94, down 1.4% since Tuesday 5 p.m. Eastern Time on the Kraken cryptocurrency exchange.

Major altcoins, or coins other than bitcoin, are also in the…

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FIND OUT: What Billionaire “Prophet” Jim Chanos just said about Bitcoin

Hedge fund mogul Jim Chanos claimed Bitcoin was “masquerading as a technological breakthrough” in a new interview with Bloomberg June 4. Chanos said that in the event of a global crisis, it would be “better” to own food, or a government-backed (fiat) currency.

Speaking to the Institute for New Economic Thinking and quoted by various media outlets, Chanos, who last year stated he “didn’t understand” Bitcoin or blockchain technology, issued stark warnings about cryptocurrency investment.

“We’re now nine years into this bull market, same as the ’90s, so I suspect that now things are starting to percolate,” he told Bloomberg. He also called the past year’s increased public interest in Bitcoin part of the “fraud cycle,” adding:

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Warning: This Bitcoin Set-up Could Be a Trap

Bitcoin looks primed for a move to $8,000, but low trading volumes point to the risk of a bull trap.

The cryptocurrency broke through a key descending trendline (drawn through the May 6 high to the May 21 high) on Sunday, adding credence to last Tuesday’s bullish outside-day candle and signaling a short-term bearish-to-bullish trend change.

However, at the same time, daily trading volume fell 1.77 percent to $4.85 billion, according to CoinMarketCap. Further, rolling 24-hour trading volume currently stands at $4.95 billion – down 22.5 percent from the current quarterly average of $6.38 billion.

Low volume is a cause for concern for the bulls, as it is widely considered a sign that the market is approaching a peak; that is, the rally will be short-lived.

Hence, a slight pullback seen today does…

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