Cardano Price Prediction: ADA Surges 24%, But Traders Turn To This Bitcoin ETF Coin To Ride The Next Bull Run

Updated: 09 December 2023

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The Cardano price has surged by 24% in the last 24 hours to trade at $0.5881 as of 1:30 a.m. EST.

According to @IvanOnTech, a renowned analyst on X, the Cardano price could soon soar to $0.75.

$ADA RUNNING AS EXPECTED!!

Will probably snap to $0.75 soon https://t.co/Wgry6NDaIw pic.twitter.com/IDDETBqGLE

— Ivan on Tech 🥕🥕🫐🫐🍓 Moralis (@IvanOnTech) December 8, 2023

Cardano Price Prediction

Looking at 1-hour ADA/USD charts, the 50-period moving average has exceeded the 200-period moving average to form a golden cross. This shows buying pressure on Cardano as bulls look to retest the $0.6 level.

The Relative Strength Index indicator is currently in the overbought region while the MACD moves in the green zone, showing bull dominance for ADA.

Looking at volatility, the Bollinger Bands are moving far apart, showing high volatility levels on the Cardano price. This can be attributed to Cardano’s trading volume surging by 281% in the last 24 hours.

Meanwhile, as the Cardano price pumps, the new BTCETF Token is making waves with its presale as investors flock to the project daily. The presale has now amassed over $3.1 million, demonstrating investor confidence in the project.

Cardano Price Prediction: Is BTCETF Token A Better Investment Than ADA?

As anticipation builds around the Securities and Exchange Commission’s decision on spot Bitcoin ETF applications in early 2024, the Bitcoin ETF Token (BTCETF) presale is gaining considerable traction. This cutting-edge ERC-20 token aims to benefit from the acceptance and introduction of regulated spot Bitcoin investment vehicles.

BTCETF is already proving an attractive investment, with presale transactions raising an impressive $3.1 million. The token’s price has experienced multiple increases, currently at $0.0064, a notable rise from its launch price of $0.005 per BTCETF during the presale phase.

BTCETF plans to execute a deflationary strategy by burning 25% of its total token supply in five stages, contingent on the ETF approval process. An additional 5% burn is anticipated if Bitcoin achieves a value of $100,000, reducing the circulating supply to a mere 1.575 billion tokens.

In addition to these deflationary measures, BTCETF permanently removes tokens and imposes a 5% transaction charge on all buy and sell transactions.

Milestones in BTCETF’s journey include a reduction in transaction tax from 2% to 1% when the aggregate assets under management (AUM) of Bitcoin ETFs surpass $1 billion.

Milestone-Driven Tokenomics

BTCETF’s innovative tokenomics further include milestone-driven adjustments. For example, upon reaching the fourth milestone of $1 billion in Bitcoin ETF AUM, the transaction tax will decrease to 1%, and 5% of circulating tokens will be burned.

The fifth milestone, marked by Bitcoin hitting $100,000, triggers an additional 5% token burn, along with the elimination of the 1% transaction tax.

BTCETF’s unique tokenomics offer traders and investors the potential for upside gains and indirect exposure to SEC-approved, regulated spot Bitcoin ETFs.

The success of BTCETF’s presale and the prospect of substantial product inflows into Bitcoin could contribute to all-time highs if Bitcoin ETFs debut in early 2023.

The deflationary dynamics embedded in BTCETF’s structure may drive exponential increases in token prices beyond current presale rates.

BTCETF’s presale is experiencing remarkable success, fueled by regulatory expectations and strategic tokenomics.

As the SEC’s decisions approach, the trajectory of BTCETF remains closely tied to the evolving landscape of Bitcoin ETF approvals. So, as you watch out for the Cardano price, remember to check out the BTCETF Token.

Get your BTCETF tokens here.