What Coin Bureau Just Revealed About Cardano ADA and Why ADA Will Hit $25 00

what coin bureau just revealed about cardano ada and why ada will hit 25 recently crypto influencer coin bureau explained particularly why cardano ada is part of his crypto portfolio so today we are going to discuss what coin bureau just revealed about cardano ada and why ada will hit 25 so watch the video till the end hi cardano lovers welcome to cardanoland your daily dose of cardano if you're interested in everything around cardano this is the place for you make sure to hit the like button and subscribe for us to provide you with more cardano news before we get to the topic let's analyze the ada price as of the 18th of july cardano price appears to be forming a local bottom although indecision continues to consume ada the public blockchain crypto is struggling to hold on to critical support although a technical indicator suggests a trend reversal may be in store cardano price flooded with indecision cardano price has recorded its monthly low at 1.15 failing to galvanize investors enthusiasm ada has broken below a rising wedge pattern on the daily chart which resulted in nearly a steep decline the rising wedge pattern projected a 14 drop for cardano price since ada bears have been taking control the asset fell further by a total of 17 percent to 1.15 cents cardano price appears to be searching for a bottom supported by the diagonal declining trendline that emerged on june 5th ada seems to be aiming for a trend reversal as the momentum reversal indicator mri flash two consecutive buy signals to reverse the period of under performance cardano price must close above the aforementioned support trend line for a bullish forecast to emerge should ada witness accelerated interest it could realize an 11 percent gain reaching the 61.8 percent fibonacci extension level at 1.30 should ada buying pressure see an increase cardano price could aim at the 50-day simple moving average sma at 1.44 coinciding with the resistance line given by the mri however this bullish target would only be in effect if it is able to overcome the 78.6 fibonacci extension level at 1.38 currently cardano has printed a doji daily candlestick indicating general equilibrium between buyers and sellers cardano price will discover meaningful support at the 200-day sma at 1.12 if ada continues to lose steam it could slice below the declining line of defense falling further to re-test the 23.6 fibonacci extension level at 1.11 a sharp spike in selling pressure would force cardano into the demand zone with a maximum bottom target at one dollar for the time being now let's get back to the video recently crypto influencer coinbureau explained particularly why cardano ada is part of his crypto portfolio in a released video on youtube channel coin bureau the show's pseudonymous host told the channel's over 681 thousand subscribers that he had started buying cardano's ada token since last summer when it was trading around 0.08 dollars he also mentioned that like polka dot he sees cardano primarily as a hedge in case anything goes wrong with ethereum and that he is a huge fan of cardano's peer-review approach to research and development he then went on to say that although cardano does not currently have as many apps as ethereum or polka dot it does have a huge and passionate community the problem is cardano doesn't have nearly as many developers itching to work on its blockchain as polka dot more importantly cardano isn't able to test smart contract functionality in a real world setting the same way polka dot can with kusama ksm one big edge that cardano has over polka dot and most other cryptocurrencies is the size and engagement of the cardano community some of my most viewed videos are about cardano and charles hoskinson's youtube channel seems to be growing even faster than mine more than 60 percent of all ada in circulation is also being staked in nearly 2500 staking pools cardano may not have as many daps waiting to deploy as polkadot but it probably has millions of people waiting to use them at the time it was unusual to see a new coin appear out of thin air with such a high market cap but cardano is different it's an incredibly ambitious product with a strong team and tons of buzz by year's end the market cap of cardano was more than 10 billion dollars despite the fact that the project was in a fairly early stage in january it briefly soared to more than 33 billion dollars before receding back to roughly 10 billion dollars as the overall cryptocurrency market shrunk so what makes the cryptocurrency scene so bullish about cardano cardano claims it will solve most of the issues that plague well-established cryptocurrencies such as bitcoin and ethereum bitcoin isn't flexible enough and transactions on its network are currently slow and expensive due to protocol limitations and overwhelming demand but cardano at least so it claims has very secure code peer-reviewed by experts and scientists it claims to be fast and scalable thanks to its oroboros proof-of-stake technology it's written in haskell a programming language that's typically used in critical systems in the banking and defense industries it provides interoperability between existing cryptocurrencies and finally it offers long-term sustainability by using a sort of crypto coin treasury that can fund projects long term cardano has a very strong developer team its leader is charles hoskinson who studied analytic number theory at the metropolitan state university of denver and university of colorado at boulder before dropping out to co-fund ethereum among other projects he now travels around the world to speak and educate on crypto and promote cardano as he moved between time zones it took me two weeks to align with him and do a phone interview hoskinson refers to bitcoin and ethereum as the first and second generation cryptocurrencies they were the first of their kind and it was impossible for their development teams to prepare for all potential problems in advance cardano has the benefit of knowing their history every component of our system has been built from scratch hoskinson says and since all of it has been peer reviewed by experts and scientists he claims it should be more reliable and secure than the code of most other cryptocurrencies this is important parity a popular wallet for ethereum suffered a hack in which unknown actors made away with 32 million dollars as well as a bug that froze more than 150 million dollars in digital assets due to errors in its code hoskinson isn't just making claims out of thin air crypto miso a site that ranks cryptocurrencies according to github commits changes in a project's code currently ranks cardano as the second most active project and this code has seen actual usage cardano's oroboros proof-of-stake algorithm is live and it's deadless wallet is live you pay a higher upfront fee to do things properly once you've done that what happens is you get acceleration and you don't have to backtrack because you've done it right the first time the cryptocurrency market is highly volatile and the rates keep on changing therefore by the time you watch this video the coin prices would have switched to a whole different range also we would like to mention that this is not a channel intended specifically to provide financial advice and we do not ask you to invest in any company this is merely a channel directed towards bringing educational content to your doorsteps with that in mind before you invest in anything we recommend you do thorough wide spectrum research on the topic well that's it for today's video guys and make sure to subscribe and give us a thumbs up see you next time on cardanoland you

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