ADA was last changing hands around $0.445, with the 21DMA at $0.467, having blocked rallies for over a week.

GM 👋

“The Biden administration is engaged in a coordinated effort to kill crypto.”

So tweeted Charles Hoskinson, creator of Cardano.

“This November, if you vote for J. Biden as a crypto holder, understand that this administration’s intention is to destroy the U.S. crypto… pic.twitter.com/6SLqn9u2b8

— Nfinity Labs (@NfinityLabs) May 10, 2024

That’s a strong sign that bears are in control of this market.

As traders monitor the outlook for the Cardano price, they are also keeping comments from its founder on their radar.

In a broadcast on X, Hoskinson argued that the Biden administration is trying to kill crypto.

“This November, if you vote for J. Biden as a crypto holder, understand that this administration’s intention is to destroy the US crypto industry,” he noted.

These claims are not without merit. Under Biden, the SEC has taken an aggressive regulation-by-enforcement approach to the crypto industry.

The agency’s underlying assumption is that virtually all cryptos aside from Bitcoin are actually securities, bringing them under its jurisdiction.

The SEC explicitly labeled ADA as a security, which weighed heavily on its price in 2023.

The Biden administration has been accused of conducting “operation choke point 2.0” to debank crypto firms in the US.

The SEC has also tried to stifle crypto through other means, including its SAB 121. The US House is challenging SAB 121, while Biden openly opposes these efforts.

Cardano Price Prediction – Is ADA Going to Zero?

The near-term outlook for the Cardano (ADA) price is downbeat. The cryptocurrency has found strong resistance at its 21DMA going all the way back to late March.

With the bears very much in control, a retest of recent lows around $0.40 looks likely.

The ADA price could go even lower. Adoption stories are increasing the prices of some of its rivals, like Toncoin.

ADA lacks a strong adoption story because it’s struggling to achieve any meaningful narrative, however.

As per DeFi Llama, Cardano’s TVL is only around $350 million, ranking 26^th behind Ultron, MultiverseX, and Hyperliquid.

That suggests its current market cap ranking of 10^th could be an overvaluation.

While ADA is unlikely to go to zero, its lack of adoption and regulatory clarity could cause it to go much lower.

Alternative to Consider – Investing in Presales

With the ADA outlook grim, investors will be looking for alternatives with a better chance of delivering short-term gains.

An alternative high-risk, high-reward investment strategy worth considering is getting involved in crypto presales.

Upcoming web3 protocols frequently sell their native tokens at an early-bird discount to fund development.

If investors can reliably identify high-potential presales, they can make a great return.

With so many presales vying for investor funds, knowing where to start can be daunting.

Luckily, the team at Cryptonews compiled a list of what they deem to be the best crypto presales.

See the 20 Crypto Presales

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Bitcoin dominates the cryptocurrency landscape and is widely known among crypto investors. As the largest cryptocurrency in the world, it achieved a new all-time high of $73,750 on March 14, 2024. However, BTC has been undergoing corrections over some time now. As of May 3, 2024, it is trading at $59,280, marking a 19.59% decline from its peak. Bitcoin has seen a 7.92% drop over the last seven days, but it has increased by 2.71% in the last 24 hours.

Let’s delve into the current state of the Bitcoin market and the reasons behind the sudden price dip.

How is Bitcoin Performing?

The value of Bitcoin had declined around 19.59% from its peak of $73,750, with BTC dropping below $60,000.

The price performance of Bitcoin in the last 24 hours is $57,560 (low) and $60,004 (high). Currently, the markets are grappling with regulatory exploration, with the Securities and Exchange Commission’s renewed vigor against significant players in the crypto world like Consensys.

On the other hand, the hype is cooling around the Spot Bitcoin ETFs, with Blackrock ETF experiencing outflows for the first time since it began trading in January, with nearly a net $36.9 million leaving the fund. This indicated that even institutional investors are not immune to market sentiments and Fear, Uncertainty and Doubt (FUD).

Rajagopal Menon, Vice President of WazirX, a major crypto exchange in India states that, “Economic indicators present a mixed bag: the FOMC’s recent stance suggests a cautious approach towards rate hikes, with persistently high inflation adding a layer of uncertainty. Additionally, markets are on the edge with respect to Japan’s economic situation, adding to the overall uncertainty. 

However, Bitcoin’s resilience during these times is notable. Technical analysis indicates that Bitcoin is priming for a significant upward move, finding strong support at crucial levels and showing patterns on the RSI that historically precede major rallies”

Additionally he says, analysts are unanimous that the current market conditions might be a precursor to a major bull run, potentially propelling Bitcoin towards previous all time highs. This is bolstered by a significant accumulation of whales and exchanges, creating a supply shock likely to drive prices upwards. For investors, the advice is to remain patient, systematically invest at these levels, and stay focused on the long-term potential of Bitcoin.

Parth Chaturvedi, Investment leads at CoinSwitch Ventures, says that BTC as an asset class doesn’t trade in isolation and is affected by macroeconomic factors. With U.S. inflation higher than expected, investors are rebalancing their positions for higher interest rates for longer. This doesn’t bode well for risky asset classes and has impacted crypto prices adversely. Besides this, BTC prices have almost doubled since Jan on the back of Spot ETF inflows and the halving event. The downturn in prices was amplified by profit booking as well.

Bitcoin Price Movement (One-Month Data)

As of May 3, 2024:

Source: CoinMarketCap

Bitcoin set a new record of $73,750 on March 14, 2024, with a market capitalization of $1.44 trillion. Following this record, it experienced a dip, and the market is currently undergoing a correction. The market sentiment shifted from extreme greed to greed and now it is at neutral. 

Over the past week, Bitcoin has experienced an 8.28% decrease, and it is down by 19.74% from it’s all-time high. As of May 3, 2024, BTC is trading at $58,921 with a market capitalization of $1.16 trillion.

Why Does Bitcoin Fluctuate?

The start of this year saw a surge in Bitcoin prices, with the cryptocurrency surpassing its all-time high multiple times in March 2024, reaching as high as $73,750. However, in the last one month, BTC prices dropped below $60,000. As of May 3, it is trading at $59,326, marking a 19.59% decrease from its all-time high.

The overall cryptocurrency market, including Bitcoin, has experienced price fluctuations due to unforeseen macroeconomic headwinds. Let’s explore other factors that have contributed to the fluctuation in Bitcoin prices:

• Federal Reserve’s interest rate decision.
• Spot Bitcoin ETFs.
• Post-Russia-Ukraine war effects.
• Instability in the U.S. banking system.
• Fear of inflation worldwide.
• High interest rates in the U.S. and the UK.
• Collapse of the largest crypto exchange FTX.

Tips To Consider Before Investing In Bitcoin

Investing in cryptocurrencies is a very appealing concept to people and when it comes to cryptocurrency Bitcoin is a must-must investment, but you need to consider some tips before you go ahead and invest in Bitcoin.

• It is advisable and smart to invest 5% to 10% of your overall portfolio in Bitcoin.
• Treat your cryptocurrencies as a long-term investment plan.
• Analyze the market volatility of Bitcoin and then invest wisely.
• To maximize your returns, research thoroughly the best times to purchase and sell Bitcoin.

It is natural for you to wonder whether Bitcoin is a safe investment choice considering its instability and volatility. The entire value of Bitcoin is based on speculation and it is not a regulated form of investment like mutual funds or equities. It would be a great choice to consult a financial advisor who will guide you through the process of investing in cryptocurrency that suits your financial goal best.

Steps on How To Buy Bitcoin In India

Once you have a hold and a bit of understanding of cryptocurrency and are ready to invest in Bitcoin, the next thing you need to know is how to buy Bitcoin from India:

Step 1: Choose your choice of crypto exchange and create a free account either through their web portal or an application.

Step 2: Register and verify your identity via their platform.

Step 3: You will see a “BUY” tab, which has many cryptocurrencies associated with it. You have to click the link attached to Bitcoin. 

Step 4: Buy Bitcoin through the link and select any mode of payment like credit or debit card, net banking  or adding funds in the form of INR.

Step 5: Once you make the payment and purchase bitcoin, it will either be stored in your exchange account or personal digital wallet. You can sell it anytime you wish or simply trade for other cryptocurrencies. You can stake it to obtain passive income.

Bottom Line 

Investing in Bitcoin, particularly from India, is not as simple as it seems due to the Indian government’s active interest in regulating the crypto market and discouraging investment. If you are determined to invest despite regulatory concerns, it’s essential to ensure that you haven’t allocated all your savings and are adequately diversified. Conducting thorough research and actively monitoring cryptocurrency trading globally can help you mitigate risks effectively.

Bulls are trying to get back in the game at the end of the week, according to CoinMarketCap.

XRP/USD

The price of XRP has risen by 0.46% over the last day.

From the midterm point of view, the weekly bar is about to close bearish. If the situation does not change, traders may witness a test of the previous candle low of $0.4780 soon.

XRP is trading at $0.5130 at press time.

About the author


Denys Serhiichuk

None of the sides is dominating at the beginning of the week, according to CoinStats.

SOL/USD

Solana (SOL) is one of the biggest gainers today, going up by 4.47%.

SOL is trading at $154.50 at press time.

BNB/USD

Binance Coin (BNB) is less of a gainer than SOL, rising by 0.34%.

In this regard, ongoing consolidation in the area of $580-$610 is the more likely scenario for the current week.

BNB is trading at $590.9 at press time.

About the author


Denys Serhiichuk

In today’s vibrant crypto market, identifying the best long-term investments can be both thrilling and challenging. Investors are continuously on the lookout for cryptocurrencies that not only promise high returns but also bring innovative solutions to the table. Among such opportunities, BlockDAG stands out with its potential, especially when compared to established players like Bitcoin Cash and the ever-popular Dogecoin.

BlockDAG: A Rising Star in the Crypto Arena

BlockDAG is quickly becoming a hot topic in the crypto community, partly thanks to the enthusiastic endorsements from influencers like Luxe Crypto. Luxe’s insights, particularly his prediction of the coin reaching up to $50 by 2025, underscore a robust confidence in BlockDAG’s future. Currently, in the eleventh batch of its presale at an enticing price of just $0.007, BlockDAG offers a remarkable opportunity for early investors. The integration of technologies such as the BlockDAG Payment Card, which allows transactions using major cryptocurrencies and fiat, positions this platform as a bridge between conventional banking and the crypto world. This seamless functionality, coupled with the potential for an impressive 30,000x ROI, makes BlockDAG an attractive option for those looking to make money with crypto.

Dogecoin: Navigating a Bearish Trend

While Dogecoin has traditionally been a favorite among crypto investors, recent trends suggest a cautious approach. The current bearish continuation pattern indicated by a descending triangle in the price charts suggests a potential 43% drop in its value. Moreover, the lack of bullish momentum and the formation of a ‘death cross’ in moving average indicators point to challenging times ahead for Dogecoin investors.

Bitcoin Cash: Bullish Prospects Ahead

Conversely, Bitcoin Cash (BCH) presents a promising outlook. A crypto analyst has projected that BCH could reach as high as $1,000, driven by its proven track record and favorable trading patterns. For investors looking at stability combined with potential growth, Bitcoin Cash offers a compelling case.

Why BlockDAG Could Be the Next Big Crypto Investment

For those eyeing the next big crypto investment, BlockDAG represents a not-to-be-missed opportunity. The project not only promises high returns but also introduces practical innovations that could revolutionize how we interact with digital currencies. The enthusiastic backing by influencers like Luxe Crypto, combined with the advanced features like the payment card, positions BlockDAG favorably against other trending cryptos.

Investing in BlockDAG could not only be a smart move for those seeking high ROI but also for anyone looking to diversify into cryptocurrencies with solid technological backing and growth potential. For more information and to participate in the presale, you can visit BlockDAG’s website. This could be your chance to be part of a leading force in the crypto investment landscape of 2024.

In summary, while Dogecoin currently faces downward pressure and Bitcoin Cash shows bullish signals, BlockDAG emerges as a highly favorable option for both new and seasoned investors. With its innovative features and strong market entry strategy, BlockDAG is well-positioned to capitalize on the growing crypto investment trend, offering a promising avenue for those looking to expand their digital asset portfolios.

Join BlockDAG Now!

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

What is Panda Swap?

Panda Swap is a genuinely innovative project, poised to give investors the best return in 2024. $PANDA powers the community of Panda Swap – the newest and most innovative decentralised exchange on Solana. More than just a token, this is the native currency which underpins the Panda ecosystem and community.
Their mission is to become the number one DEX Swap on the Solana network and they have identified a huge gap in the market by addressing the shortcomings of the other exchanges on the network. The design boasts unrivalled performance in fostering liquidity, maximising yield, incubating new projects, and delivering a seamless experience for users.

Panda: The Emerging Crypto Ready to Surge

Last week, the Panda contract was deployed as a fair launch and in less than 24 hours it surged to a Market Cap over $10m. After a healthy correction in the following days, the chart is poised to reclaim and exceed it’s pervious all time high, with many seasoned investors expecting it to establish a floor of $50m in the coming weeks. This is in light of Panda confirming a listing on BitMart exchange with plans to announce a host of other top exchanges imminently.

At the time of writing, the Relative Strength Index (RSI) stands at 76%, indicating a bullish momentum of buyers compared to sellers. A breakout above the $0.01 price level would signify buyer dominance, potentially attracting more buyers and propelling the price towards the next key level around $0.03. Further upward momentum may lead to an advance towards the subsequent zone at approximately $0.5, possibly exceeding its target floor of $50m MC in the coming weeks.

Reasons behind Panda’s Surge & Factors Influencing Panda’s Price Prediction

The surge in Panda’s price can be attributed to several key factors:

1. Growing Interest in Solana Meme coins: Solana-based meme coins have been gaining popularity in the crypto market, attracting investors with their potential for high returns. Panda, being one of these meme coins, benefited from the increasing interest in the Solana ecosystem as well as offering genuine utility through Panda Swap.

2. Social Media Buzz: Social media platforms, particularly Twitter and Discord, have been buzzing with discussions about Panda. Influencers and crypto enthusiasts sharing positive sentiments about the project have contributed to increasing awareness and interest in Panda among retail investors.

3. Market Sentiment: Overall market sentiment and investor confidence can heavily influence the price movements of cryptocurrencies like Panda. Positive news, developments, or sentiment in the broader crypto market can contribute to a bullish outlook for Panda, leading to increased buying pressure and price appreciation.

4. FOMO (Fear of Missing Out): FOMO often drives investors to jump on the bandwagon when they see a cryptocurrency experiencing rapid price gains. The fear of missing out on potential profits motivates investors to buy Panda, further fuelling its price surge.

These factors, combined with the inherent volatility of the cryptocurrency market, have contributed to the surge in Panda’s price. The development team have began sharing previews of their work under construction for the imminent release of the Panda Swap application. This has already attracted significant attention, particularly due to the shortcomings of the Raydium Exchange on Solana. Sol investors are crying out for a better alternative and there is growing confidence that Panda Swap will establish itself as the market leading DEX on the Solana network.

Why Panda Swap could be the next 100x

There is every reason to feel bullish about the long-term future of Panda-Swap.

For more information visit:
Website: https://pandaswapsol.io/
Twitter X: https://Twitter.com/pandaswapsol
Telegram: https://t.me/pandaswapsol
Coinmarketcap: https://coinmarketcap.com/currencies/pandaswapsol/

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

While Ethereum price has been appreciating against the dollar, no significant growth has been made when measured against Bitcoin because the flagship cryptocurrency has stolen the spotlight over the past few weeks.

Ethereum price prediction 2021 news is heating up as investors take an interest in the cryptocurrency.  Let’s take a look at some of the top ethereum price predictions for 2021, as collected from AMBCrypto.

• Let’s start off with Mike McGlone of Bloomberg. He’s looking at a range of $500 to $700 this year.
• Blockfyre co-founder Simon Dedic is expecting a bit more. He estimates that the cryptocurrency will see its price remain above $800 this year.
• WalletInvestor.com also weighs in on the cryptocurrency’s value with a 2021 estimate of $872.
• Next up is DigitalCoinPrice.com, which has a $1493 range for the cryptocurrency over one year.
• Blocktown Capital managing partner James Todaro has much higher expectations than any of the others. His 2021 ethereum price prediction soars well above the others at $9,000.

Ethereum Price Prediction 2021

We have seen a considerable dApp adoption in 2020 that drove the price of ETH. Also, an update called Ethereum 2.0 is scheduled for November 2020 as currently the network is stretched to its limit with the rise of DeFi.

The upgraded version is expected to increase the scalability of the network to 1,00,000 transactions per second, moving the blockchain from energy-intensive POW to POS.

The network is super popular with numerous projects built on it, given the advancements are maintained we can see ETH soar to 604.007 USD* Source: Gov Capital

Ethereum Price Prediction 2022

Ethereum is expected to have a bunch of partnerships and integrations scheduled for 2022 that might boost the value of Ethereum in the market.

By 2022, ETH might reach $2500, which is quite optimistic but we are hopeful of it.

What is Ethereum?

Ethereum, the second-largest by market value, is preparing for the next move against the US dollar but declined versus bitcoin. ETH/USD could rise in the near term if there is a successful break.

• There is a key bullish trend line forming with hourly chart of ETH/USD (data feed via SimpleFX).
• The pair may continue to rise and it could even break the recent high.
• Ethereum price is trading with bullish price action against the US Dollar and Bitcoin.
• Although Ethereum prices moved sideways on Friday morning, a new fund endorsed by Ethereum co-founder Vitalik Buterin has the crypto poised for some massive gains.

The secretive project is the brainchild of an Avengers-like cast of Ethereum power players, including Cosmos, Golem, Maker, Global Blockchain Labs, OmiseGo, Raiden, and Tendermint. (Source: “Vitalik Buterin Hopes New Ethereum Fund Will Deliver on Hype,” CoinDesk, February 16, 2018.)

All these companies are developing decentralized applications on Ethereum’s platform, which, in a sense, makes them competitors.

However, they have a shared interest in strengthening the Ethereum ecosystem, because the stronger that ecosystem, the better its chances against rival blockchains.

With this in mind, they created the Ethereum Community Fund (ECF). In a broad sense, it opens the lines of communication between disparate projects on the Ethereum blockchain. But more specifically, it creates a grant program for financing select projects.

“Ethereum has grown beyond my expectations over the last few years, but the work is clearly not finished,” Buterin said in a statement to CoinDesk.

What this does is make Ethereum greater than the sum of its parts. How many other blockchains can boast of anything comparable? It’s slim pickings, dear reader.

There is an upside reaction and the price moved back. On the downside, there is a key bullish trend line forming with hourly chart of ETH/USD. The pair is trading with a positive bias. Any dips from the current levels remain supported.

Ethereum users fight against recovery of Parity funds

The debate over Parity’s lost funds has reached a climax over the past few days, with a strong anti-recovery stance being taken by many in the community.

Parity’s decentralised multi-signature wallets were compromised after a user exploited a bug in an Ethereum smart contract, deleting the wallet’s library function.

This locked up over 500,000 Ethereum and rendered all the wallets unusable.

Parity stated that in order to recover the lost funds, users would need to “hard fork” the blockchain. This would require the consensus of miners, who verify transactions on Ethereum.

Divisive choice

To facilitate the recovery of the parity funds, Ethereum developers created an Ethereum Improvement Proposal (EIP), which would function as a standardised recovery model.

The EIP is open to public comment, and the vast majority of those commenting are against the implementation of the EIP.

This choice is indicative of the difficulty of blockchain governance, as there is no centralised authority to appeal to in this situations.

While Parity users lost a large amount of funds and want to recover them, those against the implementation of these recovery tools argue they could increase the Ethereum blockchain’s attack surface and increase its reliance on EIP editors.

Many referred to the EIP as a “get out of jail free card”, which only requires the approval on EIP editors to manipulate funds on the blockchain.

They argued that the implementation of EIP 867 could potentially damage the decentralisation and security of the blockchain.

Solana is navigating a fragile market, with recent gains pointing towards a potential price surge, while Filecoin shows promising growth prospects. However, BlockDAG is soaring high with a revamped roadmap, attracting investors’ attention. BlockDAG’s updated roadmap assures to reshape investment opportunities with developments in blockchain, explorer, and the X1 Miner app. Its $24.3 million presale triumph while in batch 11 and potential of a 30,000x ROI underline its game-changing outlook, establishing a new industry standard. 

Let’s dive deep into each project’s strategic direction, weighing the potential of Solana’s macro-outlook and the recent Filecoin rally against the excitement surrounding BlockDAG’s updated roadmap, the X1 Miner app’s upcoming beta version release, and its technical innovation. 

Solana Price Prediction & Market Dynamics 

Solana is currently manoeuvring a delicate market balance, with recent gains setting the stage for a possible price explosion. The bulls are back in action, reversing a downward trend and establishing control over support levels at $120. Although buying pressure slowed due to a slight dip in volume, the bulls remain poised for further gains. 

However, this optimistic trajectory isn’t without its risks. If the bulls falter, support levels could be tested, leading to a potential bearish control around $116. This macro outlook has excited many investors. Still, with the Solana price prediction hinging on market trends and the bulls’ persistence, caution is warranted for those looking to capitalize on short-term gains.

Filecoin’s Growth Potential

Filecoin, known for its decentralized data storage network, has witnessed substantial growth. In Q1 2024, the project saw a 9% increase in active deals, and network utilization jumped from 18% to 23%, per Messari Crypto’s “State of Filecoin” report. Its Virtual Machine (FVM) achieved remarkable success, with total value locked (TVL) reaching $600 million, marking nearly a 2x quarter-over-quarter growth. 

Moreover, Filecoin’s collaboration with ETBHGlobal for Scaling Ethereum 2024 hints at its broader ambitions and has driven bullish sentiment in the market. However, this momentum may be challenged by other crypto networks offering novel technical solutions.

BlockDAG’s Updated Roadmap And A Stellar $2.44 Million Miners Sale

BlockDAG is causing a stir in the crypto industry with its refreshed roadmap and innovative tech advancements. The revised plan, stretching from May 24 to September 26, showcases strides in blockchain development, BlockDAG Explorer upgrades, and X1 Miner app enhancements.

The early blockchain updates improve peer-to-peer functions and deploy advanced algorithms. In the middle stage, rigorous testing of Proof of Work consensus is prioritized, followed by efforts to achieve Ethereum Virtual Machine compatibility and integrate Metamask.

The BlockDAG explorer focuses on wireframe design and UI development for a user-friendly experience. It displays real-time data, tracks node activity, integrates smart contracts, monitors assets, and adds NFT tracking for easier management.

The Miner X1 app undergoes an extensive 8-week transformation, focusing on wireframe/UI design, streamlined onboarding, a presale module, a secure wallet, token transfers, and a community section. Such technically sophisticated updates further boast the brand’s 30,000x ROI potential.

BlockDAG’s stellar $2.44 million miners sale is attributed to its cutting-edge miner series and user-friendly X1 app that transforms a smartphone into a BDAG mining device, using an energy-efficient consensus algorithm. This app is gearing up for its highly anticipated beta version launch for both iOS and Android on 1st June!

BlockDAG’s hybrid blockchain-DAG structure achieves 10,000-15,000 TPS with low fees and rapid confirmations, thereby boasting $24.3 million in presale funding while in batch 11 and selling at a modest price point of $0.007.

Why BlockDAG Offers Unmatched Potential

To wrap up, while Solana holds steady and Filecoin advances in data storage, BlockDAG stands out with its updated roadmap, enhancing its 30,000x ROI potential. Its innovative tech, Miner X1 app, and anticipated beta launch promise to redefine the crypto landscape. 

With a $24.3M presale in batch 11 at $0.007, now is the time to invest. For investors looking to pinpoint which crypto to buy in May 2024- BlockDAG is the answer with its technical prowess and a visionary updated roadmap.

Join BlockDAG Presale Now!

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.