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Cardano (ADA) Price May Be Catching New Bullish Wave as It Soars 16 Percent – Crypto Traders Rejoice

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Tue, 01/28/2020 - 08:56
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  • The tenth largest cryptocurrency, ADA, has surged 16 percent on CoinMarketCap, analysts and traders believe the coin has caught a new bullish wave

Cover image via 123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Cardano (ADA) is the tenth biggest crypto by market cap. It is believed to be highly perspective by some experts and the Weiss Ratings agency. In particular, Weiss Ratings believes it is superior to EOS.

ADA’s price peak took place back in January 2018, when it traded at $1.23. Since January this year, ADA has been trading between $0.7 and $0.4, which looks like a slightly uneven flat line on charts.

Now, traders have massively noticed a sudden price surge of over 16 percent. Some of them believe this is a new bullish wave for Cardano’s coin.

ADA price CMC
Image via CoinMarketCap

‘+15% already. First resistance reached’

The crypto trader and investor known as ‘Crypto Rand’ believes that ADA has broken an Ascending Triangle pattern after its massive Falling Wedge breakout consolidation. The coin has taken the first resistance level already, the expert points out.

Looking for a new bullish wave, he writes.

ADA 1
Image via Twitter

‘ADA is in the play’

Crypto trader and author of ‘An Altcoin Trader’s Handbook’ Nik Patel believes that ‘ADA might be in the play’. He points out that the coin’s price has been lagging behind for a long while. However, now it is showing ‘really solid daily candles’ on both USD and BTC charts.

ADA 2 Nick Patel
Image via Twitter

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ADA expected to hit $0.54-$0.57

Traders @Tradermayne and @CryptoNewton have also tweeted about ADA’s sudden breakout. Their predictions vary very slightly – they expect the coin to reach $0.54 - $0.57 (0.00000604 BTC - 0.00000635 BTC).

Vitalik Buterin denies plagiarizing Cardano

As earlier reported by U.Today, a reddit user accused the creators of Ethereum 2.0 of using Cardano’s design to create ETH 2.0 slots & epoch solutions.

This discussion got the attention of Vitalik Buterin, who responded on Reddit that this accusation sounds as ridiculous as someone saying that Tesla is copying the four-wheel structure from old Ford automobiles.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin (BTC) Scammers Impersonate Bill Gates and Endanger Almost 30K YouTubers

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  • Bitcoin (BTC) scammers know no quarantines or self-isolation. Dozens of fraudulent airdrops falsely endorsed by Bill Gates ask YouTubers to send in their Bitcoins.

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Contents

Typically, fake YouTube airdrops are quite similar to each other. With the current pandemic enraging across the planet, a series of scams that impersonate Bill Gates have some distinct features.

With Bitcoin (BTC) Price Drop, Scammers are Getting Greedy

Just like in several other previous cases, the fraudsters launch fake 'live streams' on YouTube, asking users to send in their Bitcoins (BTC) in order to get redouble the initial amount.  An 'entry ticket' into to this scam starts at 0.1 BTC which is more than $650. With previous scams, it was much cheaper.

Fake YouTube Bitcoin (BTC) airdrop
Image via YouTube

The scammers also publish the URLs of this campaign, which are linked to suspicious websites. Unlike previous cases, fraudsters launch multiple live streams simultaneously. At press time of this article, at least two of them were active.

Multiple scam streams on YouTube
Image by YouTube

According to statistics, the average popularity of one live stream is about 30,000 viewers.

Very Bad Idea

Alongside that, launching fake airdrops on behalf of Microsoft's Bill Gates isn't a slam dunk for the fraudsters. It may seem ironic, but Mr. Gates is a prominent critic of cryptocurrencies, particularly of Bitcoin (BTC). He is sure that digital assets represent a kind of a ‘greater fool theory’ type of investment.

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Cryptocurrencies kill, added Mr. Gates. To him, its only use-case besides short-term speculations is illegal funding for drug trafficking:

Right now cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way.

The U.Today team will one more time state that no airdrop will be conducted without the notification from an official website of a product or token. Any YouTube, Medium, and/or Telegram announcements may shill scammers. Never send your money to unknown persons.

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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