As we already reported, the crypto market looks really bloody today with most of the coins trading in the red, and Cardano’s ADA is no exception.
But, despite this weakness that the market has been showing during the past days, there are various optimistic predictions about the price of ADA.
At the moment of writing this article, ADA is trading in the red and the coin is priced on the 6th place on CMC. It’s down by more than 3% in the past 24 hours.
There’s a correlation between Bitcoin and ADA
The online publication NewsBTC notes that although the price of ADA has stabilized the crypto above $0.12, it looks like Cardano is forming a striking correlation to Bitcoin and the aggregated market.
They also note that “where the token trends next will likely depend on whether or not buyers are able to surmount its crucial near-term resistance.”
The same online publication also presented a chart according to which Cardano could see a move upwards by more than 20% against Bitcoin if the digital asset can continue to push higher.
At the moment of writing this article, ADA is trading at $0.123150.
Cardano addresses the Twitter hack
In other news, Cardano also made sure to address the Twitter massive hack on social media.
Please not a series of crypto twitter accounts have been hacked. There is currently no ada giveaway. Please inform of us any scams you find: https://t.co/3TtvWLK0bU or [email protected]
— Cardano Foundation (@CardanoStiftung) July 15, 2020
Cardano also made sure to tell users to report all suspicious activity that they see and also highlighted the following:
“- We will never give away ADA
– We will never contact you first (Officials/Ambassadors/Moderators
– We will never ask you to send your funds or ask for your private key
– We will never promise very big returns”
There have been all kinds of optimistic predictions about the price of ADA.
