Cardano News Today – Cardano ADA Stays Steady Above $0.051 While Charles Hoskinson Talks About Bitcoin BTC – May 17th, 2020

Cardano
  • Cardano ADA Remains in Green Forming Another Support at the $0.051 Level
  • Charles Hoskinson Says Bitcoin is Misunderstood Because There Is a Lot of Misinformation Circulating About the Cryptocurrency 

Cardano News Today – Cardano ADA is doing relatively well this weekend. The token has managed to maintain strong support at the $0.050 level. This morning, ADA gathered enough bullish momentum to move to the $0.051 level. If the bulls remain in the market, there is a strong chance that the token will retest the $0.052 level and even move higher against the USD short-term. As the Cardano development team is moving toward the promised decentralized era, the token is increasing in price because investors are becoming more confident in the future of the token.

Cardano ADA Price Prediction – Cardano ADA Does Relatively Well Over the Weekend

At the time of writing, Cardano ADA was trading at $0.051318. This shows that it is up by 1.19% against the USD and up by 0.05% against the price of BTC. The trading volume over a 24 hour period is $115,419,727 and the market capitalization is $1,330,534,794. The Cardano ADA token has formed strong support at $0.0500. However, there is resistance at $0.0520 that is blocking the upward price action. If the token is able to move above this resistance, higher highs will be possible near-term. Otherwise, falling below the support at $0.0500 will encourage lower lows. Last week, the token retested this support at $0.048 twice before reestablishing itself at the $0.0500 level.

In other news, the creator of Cardano, Charles Hoskinson, recently talked about Bitcoin. He posted a video 42 mijit<e YouTube stating that Bitcoin is misunderstood. In his words;

“I started with Bitcoin and started with something called the Bitcoin education project. The goal there was to try to bring as many people as possible into our ecosystem and to also dispel a lot of the common myths, fear, uncertainty, misinformation, and misnomers and things that have been cropping up. In 2013, there were certainly a lot of them, and unfortunately today there’s even more. The reality is despite the fact that Bitcoin is pervasive with millions of people in our ecosystem and mainstream knowledge of it, very few people actually understand what Bitcoin actually is.”

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.144

The video came shortly after J.K. Rowling asked for an explanation about Bitcoin. It’s not clear why the famous writer suddenly developed an interest in Bitcoin but it sparked a lot of conversations in the cryptocurrency community. Hoskinson said that the dark clouds surrounding Bitcoin had to be banished so the industry can grow and those interested can get clear information can get it.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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