Crypto Engine is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today.
The price of BTC is rumored to be affected by the news about the Cardano hard fork that was postponed and will occur in the middle of September, possibly during the Merge of the Ethereum network that also has been surrounded by rumors of a hard fork.
However, the issue here is that the ETH fork is not something intended by developers, but a reaction of some influential holders and miners of the network to the upcoming news about changing the consensus mechanism.
The Vasil hardfork for Cardano is a planned event that will most likely take place during the ETH Merge. These two events are not directly related, but have a very strong impact on the market and may affect the prices of all cryptocurrencies.
ADA has been trading at around $0.40 — $0.45 for some time now. It had a nice surge in price when the news about the fork broke out. However, the announcement that the event had to be postponed due to a critically crucial bug quickly erased all gains. By July, the price stabilized with no significant changes in either direction.
Some analysts predict a massive potential for a new surge since the date of the hard fork is again established. We may expect the same trend of this asset gaining strength up until the event. What will happen next is much harder to predict, especially considering the huge potential impact of the ETH Merge on this whole situation.
There is a very large community of users who very much love Cardano and continue hyping up the upcoming event. Many enthusiasts are hyped for the upcoming Vasil update as well see it as a good change for many participants of the network. However, traders are not interested in the technical details of the fork, they are here for the money.
Many short-term predictions indicate that the price of ADA will start climbing reaching at least $0.60 by the time of the forking event. It happened in June, and we do not have any reasons to think that it won’t happen in September!
Altcoin Directory is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (namely Branded Content Posts) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.