Cardano Price Prediction: These Triggers Could Boost ADA

Cardano has been making headlines when it’s been revealed that the team behind the project is addressing the fact that they are being targeted by scammers in a mass attempt.

Check out the announcement on Twitter:

They continue and note 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”

Regarding the price fo ADA, the coin is trading in the red and it’s priced at
$0.128928.

Factors that can boost ADA’s price

One respected trader is now pointing to four primary factors that seem to suggest a surge for the coin’s price.

Nik Patel explained in a recent blog post that he believes ADA can go to $0.20 in the near-term, as long as it can close above $0.14.

NewsBTC noted that these price triggers  include “the ongoing rollout of the Shelley mainnet upgrade, news regarding new on-chain development projects from IOHK, and the future addition of Cardano staking capabilities on Coinbase Custody.”

It’s been also revealed that for these factors to help boost the price for ADA significantly higher, Bitcoin must find some stability around its current price levels.

This is because a drop in the price of Bitcoin could also trigger a fall for the altcoin market as well.

At the moment of writing this article, Bitcoin is trading int he red and the coin is priced at $9,190.48.

We recommend that you check out he complete original article in order to land more about these price triggers for ADA.

Earlier, it’s been revealed that a number of high-profile Twitter accounts have been simultaneously hacked by attackers.

The bad actors hacked some accounts that had even a few million followers in order to spread a crypto scam.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

Coinbase
Coinbase

Coinbase is a digital currency exchange headquartered in San Francisco, California.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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