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Cardano price is up 19% in the last 24 hours to trade at $0.5241 at 8:30 a.m. EST after hitting a new high for the year.
According to X analyst @JavonTN1, the ADA market is experiencing a strong rally, leading to speculation that this rally could start a substantial upward trajectory.
He believes the current momentum hints at a potential move towards the $2.77 mark and based on trend analysis, there is optimism for a more than 14x rise, potentially reaching the impressive figure of $7.80 or higher.
$ADA (#cardano) are Rising with SIGNIFICANT STRENGTH and this may be just the beginning of a move to $2.77+ again and, depending on the trend, more than 14 times to $7.80+!
Prices could now be in their expansion phase… https://t.co/9ifWFT8BJX pic.twitter.com/UFZ0kMUUJI
— JAVONBRANDS (@JavonTM1) December 8, 2023
Cardano Price Prediction: What do the charts say?
Looking at the 30 minute ADA/USD graphics, the Relative Strength Index indicator is on a downward trajectory as it approaches an exit from the overbought region. This shows increasing selling pressure that could see Cardano price face corrections in the short term.
The MACD indicator is also moving towards the red zone, showing fading optimism on ADA.
Cardano price is currently volatile, as evidenced by the Bollinger Bands moving far apart. This can be attributed to the increase in trading activities which has seen ADA trading volume increase by 59% in the last 24 hours.
However, in the long-term perspective, Cardano price could see another rise after any correction due to the increase in Total Value Locked (TVL) on Cardano in recent days. Cardano is now in the top 10 on TVL.
MASSIVE: Cardano enters TVL (total value locked) top 10! pic.twitter.com/5esSyKfdIP
– Dan Gambardello (@cryptorecruitr) December 8, 2023
Meanwhile, as the price of Cardano rises, bitcoin Minetrix continues to make waves, with its BTCMTX token pre-sale having now amassed over $5 million. This shows the enormous confidence of investors in the cloud mining project.
Exciting announcement! #BitcoinMinetrix It has raised over $5,000,000!
To celebrate this milestone, we have prepared a special contest for our #CryptoCommunity.
Stay tuned as we will share more information soon! pic.twitter.com/hwNGQ5kgYc
—Bitcoinminetrix (@bitcoinminetrix) December 7, 2023
Cardano Price Prediction: Is BTCMTX a Better Investment Than ADA?
bitcoin Minetrix, an innovative platform revolutionizing bitcoin mining, is currently in the middle of a pre-sale phase before its official launch. The innovative “stake-to-mine” feature eliminates the need for expensive mining rigs, making bitcoin mining accessible to everyday cryptocurrency enthusiasts.
At the heart of bitcoin Minetrix is the BTCMTX token, priced at $0.0121. Investors should note that the token's value increases by 10% after each pre-sale stage, with the next price increase scheduled for just over three days.
This unique token boosts bitcoin Minetrix's decentralized and transparent approach, countering concerns raised by existing cloud mining systems with questionable practices.
bitcoin Minetrix offers a decentralized and transparent alternative to traditional cloud mining. Unlike current systems with long lock-up periods and unpredictable reward programs, this platform leverages cloud computing to allow users to seamlessly mine Bitcoins without the need for personal hardware installations.
The real utility of the BTCMTX token comes to light when users can stake their tokens to receive additional bitcoin mining payments.
By addressing concerns about the reliability and openness of cloud mining, bitcoin Minetrix has earned the trust of its user base. The platform ensures easy onboarding with support for MetaMask and other ethereum-compatible wallets.
Easy-to-use features and accessibility
bitcoin Minetrix distinguishes itself by reducing barriers to entry and providing an intuitive interface. With the ability to stake tokens and witness your bitcoin profits accumulate effortlessly, the platform aims to simplify bitcoin mining for a growing audience of cryptocurrency enthusiasts.
As the popularity of cryptocurrencies continues to rise, bitcoin Minetrix emerges as a simple solution for everyday people to take advantage of bitcoin price increases through mining.
The platform's emphasis on staking and cloud computing simplifies the mining process, positioning BTCMTX as an intriguing speculative and utility asset.
So, with Cardano price likely to face corrections in the near term, watch closely as bitcoin Minetrix gains momentum in anticipation of its large-scale debut.
Visit bitcoin Minetrix here.
Related news.
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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