RATE Group | Cardano Could Skyrocket Against a Weakening Bitcoin
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Cardano Could Skyrocket Against a Weakening Bitcoin

26 Jul Cardano Could Skyrocket Against a Weakening Bitcoin

Posted at 02:47h in Bitcoin News by

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If you’ve been watching the cryptocurrency markets closely, you would see that a new paradigm is emerging. Bitcoin is losing steam. At the same time, other crypto tokens are bottoming out. One coin that has caught our eye is Cardano.

Cardano is one of the most fundamentally sound cryptocurrencies. That’s why it doesn’t make sense that the cryptocurrency (ADA/BTC) dropped to as low as 0.00000524 on July 16. At that point, the crypto token lost over 94 percent from the all-time high of 0.00008788.

Nevertheless, the cryptocurrency dubbed by some as the “Ethereum Killer” appears to be carving a bottom. It is actually trading at a level where it can create a new base and massively pump.

Cardano Showing Bottoming Out Signals on the Weekly Timeframe

A quick look at the weekly chart shows that Cardano is trading close to historic lows of 0.0000057. Even though bears were able to take out this level on July 16, bulls quickly responded and pushed…

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