Cryptocurrencies Price Prediction: Bitcoin, Aave & Cardano – European Wrap 20 May
Bitcoin Price Forecast: BTC fails to reach all-time high despite building institutional and state support
Bitcoin (BTC) price stabilizes at around $105,200 at the time of writing on Tuesday, just 4% shy of its record peak. The positive narrative builds as JPMorgan CEO Jamie Dimon said the bank will let clients buy Bitcoin on Monday. Meanwhile, the Texas House is set to conduct a second reading of Senate Bill 21 on Tuesday; if passed, the bill would establish a Bitcoin Reserve.
Aave targets $300 following the protocol’s deployment on Aptos, rising open interest
Aave (AAVE) price exchanges hands at around $264 at the time of writing on Tuesday, building on growing sentiment within its ecosystem and the broader cryptocurrency market. The network announced on Monday that the Aave v3 protocol has officially been deployed on the Aptos blockchain. Interest in the token skyrocketed, driving gains of over 20% in the last 24 hours and setting the stage for highs above the $300 level.
Cardano Price Forecast: ADA on the verge of correction as momentum weakens
Cardano (ADA) trades in red on Tuesday at the time of writing, hovering around its key support level at $0.72. A decisive close below this level could trigger a correction. ADA’s falling daily active addresses and Decentralized Exchange (DEX) trading volume further support the bearish outlook. Adding to this, the technical outlook suggests weakness in momentum and a double-digit fall.
Author
FXStreet Team
FXStreet
