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Peter Davis

An writer at FOMOdrive

  • Nov 26, 2023
  • 2 min read

Cardano (ADA) could grow 29x

The difficulty of Bitcoin mining has reached a new peak.

The crypto exchanges have been warned by the CFTC that they may face prosecution.

The head of the ECB mentioned her son's financial losses due to his investments in cryptocurrency.

A potential conversion of the GBTC Bitcoin fund to a spot ETF could put pressure on the price of BTC.

The difficulty of mining the first cryptocurrency increased by 5% as a result of the next recalculation, reaching a maximum of 67.96 T. The average hashrate for the period since the previous change in value was 486 EH/s.

The CFTC has cautioned crypto exchanges that it will take a firm stance against any platforms that attempt to bypass its customer protection regulations when operating in the US.

JPMorgan predicts that when the GBTC Fund is converted to a spot ETF, $2.7 billion will be withdrawn from it. Previously, GBTC Fund shares were trading at a discount, but they should be equal to the price of Bitcoin when the conversion takes place. However, many traders may choose to take their profits, which could put downward pressure on the price of the first cryptocurrency.

Dan Gambardello, a crypto analyst, predicted that Cardano (ADA)'s price could reach $11 during the next bull market in the crypto sphere, which is likely to be driven by Bitcoin's growth.

According to Gambardello, Cardano has an edge over Ethereum in terms of dependability, safety, and decentralization, which will be beneficial to the ADA rally as the decentralized finance (DeFi) ecosystem utilizing the Cardano blockchain continues to expand.

Christine Lagarde, President of the European Central Bank, who has been vocal in her criticism of cryptocurrencies, recently revealed that her son had invested in digital assets, but unfortunately was unable to predict the market trend and lost almost all of his money.

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