Cryptocurrencies Price Prediction: Cardano, Terra & Bitcoin – American Wrap 24 May

FXStreet Team FXStreet

Can Cardano price drop lower after losing 80% since its all-time high?

Cardano price has recently achieved a significant and historical marker. That marker is ADA officially hitting the longest downtrend since 2018. Coincidentally, since reaching this new milestone, Cardano is very close to completing an extremely important time cycle.

This is how low Bitcoin can go

Bitcoin price barely holds on to the $29,000 value area as support. $29,000 is where the 2021 lows, 61.8% Fibonacci retracement, and the bottom of the final high volume node in the 2022 Volume Profile currently exist.

Do Kwon in trouble as Korean police urges Upbit, Bithumb, Coinone, Korbit and Gopax to freeze Terra’s assets

Do Kwon faces legal proceedings in South Korea while endorsing a revival plan to fork Terra with a new token, excluding TerraUSD. On Wednesday, South Korean authorities are scheduled to meet cryptocurrency exchanges Upbit, Bithumb, Coinone, Korbit and Gopax after instructing them to freeze Luna Foundation Guard assets.

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

Legal Text

Markets move fast. We move first.

Editor's Picks