Senator Cynthia Lummis (R-WY) has given a specific date for when her long-awaited crypto regulator bill will be unveiled. The legislation will help to sort cryptocurrencies under appropriate regulatory labels and federal jurisdictions. According to a tweet from the senator on Friday, the final version of her bill will be released on Tuesday, June 7th. Lummis has spent months working on the bill alongside Senator Kirsten Gillibrand (D-NY), announcing it as early December 2021. The bill will reportedly provide sweeping…
Bitcoin and ETH, the two most prominent crypto assets, are currently showing slight gains. However, Cardano continues a genuine market bull run and is most likely to hit $3.
Bitcoin Price Analysis
Early 29th August, Bitcoin seemed to start by a positive price action as it increased past $49.6k. Bitcoin has been in a bearish-bullish situation in the past few hours, plunging $47928 and later surged to $48957. CMC caps the 24-hour price change at about a 0.5% increase.
Since the situation is uncertain, Bitcoin could easily take a bearish turn. For instance, the current most immediate BTC price support is $47.1k. If BTC plunges, it could be able to maintain the values at $47k and above.
If bitcoin begins to make a bullish statement, it could quickly go past $50k. The most immediate resistance level for Bitcoin is $50.9k, with another strong one following at $52.6k. The bullish trend is likely to occur starting Monday as the trading volumes in the markets increase. Taking a bullish turn will make the $100k goal almost realistic for BTC.
Ethereum Price Analytics
Like Bitcoin, Ethereum is also in an uncertain market situation. Early 29th, the coin was trading at $3226. It managed to increase in value to over $3281 and immediately turned course. The lowest trading value for this coin at the time of writing is $3158. However, the most recent ETH price was $3170.
The coin can quickly go into a short or long bullish trend beginning Monday. It will face strong resistance points at $3338, $3411, and later $3550. Hitting and surpassing the resistance levels will set ETH to a further price surge and register a new ATH. Upcoming events with the coin will most likely boost its prices.
Ethereum can also take a bearish turn. The support levels stand at $3200, $3126, and $2988. Although possible, it’s currently unlikely. If the drop occurs, the coin would quickly start retracing at $3126. Also, as the week starts, more trading volume will contribute to higher prices.
Cardano Headed to $3
Cardano seems to be the fastest-growing top crypto asset trading at about $2.81, according to Coinmarketcap. The price is an increase from the earlier levels of $2.73. A reversal trend is doubtful to occur in Cardano.
A few days ago, IOHK, the developers of the Cardano network, announced the launch of an ERC-20 converter tool. The tool will launch on testnet this week. Therefore, the first genuine Defi tests will start occurring in a few days. The news led to an increase in prices, and as it nears, the price will increase further. ADA is most likely going to hit $3 in the next few days.
There is so much hope for Cardano in the coming months. Experts already predict that Cardano will hit$5-$10 by the end of the year. Next month, Cardano will implement Alonzo hard fork to begin its smart contract era.