Earlier today, we started experiencing some volatility; Bitcoin did not dip as much as other cryptos. Ethereum and other altcoins went down between 10 to 20 percent; it seems like because Ethereum dropped, other altcoins dropped along with it.
Cardano ADA went as low as 70 cents and bounced back up to 90 but is currently around the 80 cent range. This volatility is quite normal, especially after this period where the crypto market went up.
Cardano ADA and Litecoin look like they have great potential, especially in the long term.
Bitcoin is doing pretty well now, and it seems like it is because many institutions are buying Bitcoin. We may not see much volatility for Bitcoin as institutions continue to get into it.
$2,000 Ethereum is closer than we think; those dips are meant for buying Ethereum. Ethereum being bullish is good for all altcoins in general. Ethereum total value locked continues to remain in an uptrend, the total amount of ETH continues to climb.
Exchange withdrawals show that people take Ethereum off exchanges at a simulation to hold long-term for their long-term price targets.
We will have multiple phases of Ethereum 2.0 over the next couple of years, which will introduce sharding to the network, which will make it faster and cheaper per transaction, it helps to reduce gas fees. It will also introduce staking.
MasterCard will begin enabling cryptocurrency transactions in 2021; Visa announced that they would be getting into cryptocurrencies, and PayPal, on the other hand, has already started this and has already launched four cryptocurrencies that you can buy, sell and trade with, they will be enabling crypto merchant payments also. Many people are more likely to transact with Litecoin than they are with Bitcoin on PayPal.
Cryptocurrency is gradually becoming an accepted form of payment, and Mastercard has decided to follow the waves also.
India might be banning cryptocurrencies, cryptocurrency is like the financial internet, and any country that attempts to ban cryptocurrency is merely preventing its citizens from getting in on this vast wealth transfer. It is going to affect their country adversely in the long term. There is also speculation that India may be creating its cryptocurrency.
If you look at Cardano ADA on Google trends, you will see that it is peaking at an all-time high for the past year.
If we sent this back to the past five years, you would see that it is also at an all-time high higher than its previous all-time high price where ADA went to $1.20.
Cardano also approaches a new upgrade as ADA posts an inspired rally. Its Mary upgrade is poised to compete with Ethereum.
