Crypto Price Prediction: Ethereum To ‘Exceed’ Bitcoin But Both Could Be Left In The Dust By Cardano

Bitcoin and cryptocurrency prices have traded sideways this week after surging higher through early August—even as bankers predict a “seismic” financial shit toward crypto.

The bitcoin price has failed to find footing over $50,000 per bitcoin, dropping back towards $45,000. The second-largest cryptocurrency by value, ethereum, which has outperformed bitcoin over the last year, has also struggled—dropping back toward $3,000 per ether token this week.

With crypto traders and investors desperately looking for direction, the chief executive of financial advisory group deVere has said he expects ethereum to continue to outpace bitcoin this year and has given cardano’s ADA token a September price target of $3, up 16% from its current price.

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“Cardano is now just behind the major headline grabbers bitcoin and ethereum,” deVere’s CEO Nigel Green said in emailed comments this week. “I believe that the price of cardano will reach all-time highs in the next month, hitting more than $3.”

Green points to “three main drivers” pushing the cardano price higher, including the “broader crypto market rally,” a closely-watched September upgrade that will give cardano smart contract functionality similar to ethereum, and cardano’s green energy credentials compared to bitcoin and other similar energy-intensive cryptocurrencies.

Earlier this month, Green said he expects ethereum, worth a combined $365 billion, to eventually eclipse the market capitalization of bitcoin, currently worth more than twice as much at almost $900 billion.

Green pointed to ethereum’s “higher level of real-use potential” and “investor enthusiasm for the game-changing transition to ETH 2.0.” The long-awaited ethereum upgrade, designed to make its blockchain more scalable, sustainable and secure, was begun late last year and isn’t expected to be completed until well into 2022.

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Elsewhere, bitcoin and crypto market watchers are feeling upbeat about the bitcoin price due to a number of recent positive developments.

“From the lows of July, when the price briefly dipped below $30,000, the rate is up 72%, peaking at the start of the week, so a corrective pullback offsets some of the short-term overheating,” Alex Kuptsikevch, senior financial analyst at FxPro, said in emailed comments and pointing to a recovery in bitcoin’s computing power after China’s latest crackdown and banking giant Citigroup C eyeing regulatory approval to launch bitcoin futures trading on the CME.

“Further declines down to $42,000-$44,000 are not beyond the market’s usual pullbacks, but a deeper dive would bring back a more negative scenario.”


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Bitcoin Price Forecast Calls For Chance Of Black Thursday Redux

Bitcoin price is making another attempt at the time of this publication to take back $50,000 and hold. With the Ichimoku indicator turned on, the leading cryptocurrency by market cap is also trying to hold above the cloud.

Losing the cloud under similar circumstances the last time around, resulted in one of the nastiest selloffs on record with Black Thursday in March 2020. Could such chaos be in the forecast for crypto?

Holding Above Cloud Could Prevent Black Thursday Repeat

Until either Bitcoin sets a lower low, or blasts cleanly above $50,000 and makes a crack at its current all-time high, debate will rage on regarding if the bull market will continue or if a bear phase has begun.

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Related Reading | Total Crypto Market Cap Reenters Monthly RSI Bull Zone

Currently, there’s a battle breaking out between bulls and bears, and while at first glance it would seem $50,000 is the prize, price action is trying to hold above the Ichimoku cloud – also called the Kumo – on the three-day timeframe.



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Bitcoin losing the cloud could cause a deeper correction | Source: BTCUSD on

In an attempt to use the cloud from the past to forecast the future, losing the cloud on the timeframe could result in a similar style collapse as Black Thursday. A red cloud represents bearish strength in the market, so although Bitcoin is rising, bears might still have the upper hand.

A Theory On Where The Bitcoin Correction Will End

If such a fall happens, the lower low doesn’t necessarily mean a downtrend has started. The pure definition of a downtrend is a series of lower lows and lower highs, which will be what happens in Bitcoin if the top cryptocurrency reverses here.

Even Black Thursday itself was a buy signal, marking the completion of an ABC correction. According to Elliott Wave Theory, following each impulse wave, a corrective wave follows.



Another ABC correction would result in a lower low | Source: BTCUSD on

In an ABC correction, the C-wave is always lower than the A-wave. Adding credence to the idea, both rallies on the way up saw similar sub-division.

There is no guarantee that a C-wave will arrive. Also, impulse waves move in the primary direction of the trend, and the current corrective wave could be a wave-four in a larger formation making any downside relatively moot.

Related Reading | Proof-of-Work: Bitcoin Back Programs That Put Your Money To Work For You

The larger formation suggests one final wave five up before the bull market is over, and the wave five will be one to remember. When it is all said and done, if the formation is valid, Bitcoin could see its worst bear market ever to follow.

Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from


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Cardano (ADA) Founder Responds To Criticism Over Crypto New Crypto Partnership

A new partnership between Cardano and blockchain-based firm Coinfirm has drawn criticism from its community. The Cardano-Coinfirm partnership will enable authorities to track ADA transactions on the blockchain from as far back as when it was first created. This, according to the press release, will enable the apprehension of bad actors and prevent illegal transactions from being carried out on the platform. Complying with anti-money laundering (AML) regulations within regulations.

Related Reading | Hoskinson Celebrates Ethereum Smart Contracts On Cardano, How This Company Enables It

Even though this move was made as a way to further the adoption of ADA by institutions, it has been seen as a form of betrayal by some in the community. The most prominent of these criticisms have been levied by Weiss Crypto, A subsidiary of Weiss Ratings, a leading financial rating firm.

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Cardano Faces Criticism From Community

In a series of tweets, Weiss Crypto laid out its criticism of this move. It pointed out that excessive regulation is what killed the banking system. This is why people are so distrustful of the current banking systems and are turning to crypto. Now, Cardano is allowing the same regulations that crippled the banking system onto its ecosystem.

Weiss Crypto pointed out that this move would make the blockchain political. Also opening it up to censorship and network manipulation. A follow-up tweet said that this defeats the whole purpose of the freedom cryptocurrencies brings to the masses. Regulation like this would take away this freedom from control and repression from the people who already run current world financial systems.

Related Reading | Cardano (ADA) Cracks New $2.5 All-Time High, Is $3 Possible?

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“This brings Cardano closer to becoming a censorship-prone, politicized, and manipulated network. If you’re going down this route, there are far better tools for the job – Facebook’s Diem, CBDCs, and the networks they’ll spring up.”

Weiss Crypto’s focus landed on the fact that AML laws are used to surveil the people. Making sure that they know what is happening in the financial markets at every turn. It then concluded by reiterating that this was an all-around bad and disappointing move.

Charles Hoskinson Responds To The Backlash

Cardano co-founder Charles Hoskinson took to Twitter to respond to these criticisms via video. The co-founder started out by stating that it [Cardano] is a totally agnostic protocol. Hence where a person is located doesn’t matter to it.

Related Reading | Crypto Analyst Lays Out Cardano’s (ADA) Pathway To $4

Hoskinson said; “While the base layer of the system doesn’t care if you’re from the United States or Japan, wherever, what you can do is add identity and metadata, and all kinds of other things and those other things give you the ability to be in compliance with your business domain, regulated or otherwise.”

“They provide clarity,” Hoskinson said in regards to the partnership. “They provide a lot of business and technical requirements. And they allow us to make the software better for everyone everywhere, and Cardano to get more adoption in all industries, regulated and unregulated.”

Cardano (ADA) price chart from

Cardano (ADA) price chart from

ADA price back up above $2.8 | Source: ADAUSD on

ADA is currently still trading above its previous all-time high. The coin which had successfully clenched 3rd position for largest crypto by market cap has continued to maintain its upward momentum. Currently trading at $2.58.

Featured image from CryptoSlate, chart from


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Here’s Why Bitcoin Will Rejuvenate Your Hope In Life

A gloomy outlook on the future is understandable, given the events of the past 18 months. But when we consider things from a wider perspective, we find that this is the best time in history to be alive. And it’s about to get much better, as with Bitcoin we have a chance to solve mankind’s last big problem.

Imagine being born in 1920s Czechoslovakia. If you can’t, because you are not familiar with the country’s history, let me paint you a picture of what your life would look like.

The Bad Old Days

Your childhood in the optimistic post–World War I era would be joyful, but these good years would be short lived.

In your adolescence, you would witness your parents’ rising fear of global economic depression and the subsequent rise of Adolf Hitler to power in neighboring Germany. During the Nazi occupation in 1939 to 1945 you would become a slave in the war factories. Some of your friends — still kids — would die due to the atrocious conditions.

There would be a few good years after the war. Though your home country was ravaged and lost most of its gold to Nazi plunderers (happily assisted by the Bank of England and the Bank for International Settlement), at least it was finally free. However, any optimism would be quickly ground under a communist boot, when the Moscow-directed Communist Party of Czechoslovakia seized power in 1948.

But you would adjust. In the early 1950s, you would have a job, a family and some savings built up. Those savings would be promptly taken from you in the 1953 monetary “reform” — which was actually a huge redistribution scheme to stomp out any remnants of the middle class. Since you weren’t in the Communist party — due to principles that your parents instilled in you — you would bear the brunt of the reform and would be left with almost nothing.

The 1950s and 1960s would be hard. You would see the disintegration of society: Informers would be everywhere, looking to improve their standing with the local Communist commissar by bringing fresh gossip on counter-revolutionaries. After nationalization and the monetary reform, collaboration with the regime was the only way up. Some of your friends would say the wrong thing at the wrong time and would disappear down the uranium mines.

In the second half of the 1960s, people would timidly look to the future again. Things seemed to be changing. The Prague Spring of 1968 arrived and the reformers dropped restrictions on media, speech and travel. People were able to breathe freely again. Alas, these hopes would be crushed under the belts of Soviet tanks. Once again, the country was occupied. The effect on people’s morale was devastating. A 20-year-old student commited a protest suicide by setting himself on fire.

The era of “normalization” would follow — a return to the Soviet-style everyday grind. People would be living in fear again. Those who could, escaped the country, those who couldn’t found themselves in an “internal exile” — a willful disregard of the political situation and dedication of their time to a neutral activity, such as gardening or repairing a cottage in the mountains. The dissidents would try to reinvigorate the spirit of 1968 through a pamphlet called Charter 77, but the regime was too strong and the people too afraid — the only effect would be a loss of jobs and liberty for the authors of the Charter.

You would become a bitter cynic in the 1980s, after a life full of crushed hopes and friends lost to meaningless cruelty. On your deathbed, you wouldn’t have much hope for mankind.

Unpopular Opinion: Things Are Great And Getting Better

The 20th century was a very depressing time for those born in the wrong part of the world. You could have lived your whole life under a statist boot — first under the Nazis then under the Communists. A wretched existence.

After the downfall of the Soviet Union and the Iron Curtain along with it, the world became a more optimistic place — and not just for the 400 million people freed from the inhumane regime. Advocates for liberty all over the world finally had empirical evidence of historic proportions that central planning simply doesn’t work.

There are many more reasons to be optimistic about mankind’s future prospects. The downfall of the Eastern bloc, however impactful, wasn’t the greatest step forward in recent history by far. Practically everything in this world has been getting better for a long time now. Below are just a few of the most striking examples of mankind’s advancement, taken from the magnificent, fact-filled book called “Progress: Ten Reasons to Look Forward to the Future by Swedish economist Johan Norberg.

  • Hunger. “[Throughout history] famine was a universal, regular phenomenon, recurring so insistently in Europe that it ‘became incorporated into man’s biological regime and built into his daily life,’ according to the French historian Fernand Braudel. France, one of the wealthiest countries in the world, suffered twenty-six national famines in the eleventh century, two in the twelfth, four in the fourteenth, seven in the fifteenth, thirteen in the sixteenth, eleven in the seventeenth and sixteen in the eighteenth. In each century, there were also hundreds of local famines.” Famines are mostly a thing of the past now, and the remaining famines in the past decades were man-made by communism, war and embargoes.
  • Clean water and sanitation. “During the late nineteenth and early twentieth century, many cities built modern water and sewer systems and began systematic garbage collection. Rising wealth made such costly ventures possible. The major change, though, came with the effective filtering and chlorination of water supplies in the first half of the twentieth century, after the germ theory of disease had been accepted. Life expectancy increased more rapidly in the USA during this period than in any other period in American history, and the introduction of filters and chlorination shows that clean water played a decisive role.” Today, 74% of the world population has access to clean drinking water, per Our World in Data.

  • Life expectancy. “Average life expectancy in the world was thirty-one years in 1900. Today, amazingly, it is seventy-one years. … Since the late nineteenth century, infant mortality had been reduced from around ten to twenty-five dead per hundred births, to two to five per hundred births.”
  • Poverty. “In the early nineteenth century, poverty rates even in the richest countries were higher than in the poor countries today. In the United States, Britain and France, around forty to fifty percent of the population lived in what we now call extreme poverty, a rate that you have to go to sub-Saharan Africa to find today. In Scandinavia, Austria-Hungary, Germany and Spain around sixty to seventy percent were extremely poor.” Today, the remaining pockets of extreme poverty are found mostly in authoritarian regimes and war-torn countries. Extreme poverty is no longer mankind’s default state, it is an exception.

Money: The Last Great Problem

Considering all of the above, this really is the greatest time to be alive for most of humanity.

But one of the remaining biggest issues has been left untackled so far. It is so pervasive that we could even call it the meta problem, a problem that underlies all the other problems.

Fiat money.

The monetary system that most of the planet has been subjected to for the past 50 years is a central planner’s dream. Without any link to gold whatsoever, the U.S. dollar and all the other currencies that have been tied to the dollar since the Bretton Woods system was established are subject to total state control.

If you think that labeling fiat money as a centrally planned system is far-fetched, consider these defining features:

  • The government decides what constitutes money, via legal tender laws.
  • The government issues bonds/treasuries, which act as the backbone of the monetary system.
  • A state agency called the central bank creates money and/or sets the rules for money creation.
  • Central banks grant special privileges in the form of licenses to commercial banks that can then partake in the money creation process.
  • The central bank manages the interest rates.
  • If problems emerge, the central bank changes the rules of the game and introduces new policies, such as quantitative easing, to prevent the system from collapsing.

For some strange reason, modern financial systems are often understood as a product of the free market. But if any other industry was managed this way, we would have no problem identifying it as a prime example of central planning.

What are the consequences of fiat money? Since money constitutes 50% of every single transaction, its quality affects the economy in all aspects:

  • Money creation is the source of the Cantillon effect: Those who are closest to the money spigots get richer (government, financial industry, wealthy investors, creditors), while those farthest from it get poorer (wage earners, savers).
  • The constant push to lower the interest below the natural market rate drives an increasing indebtedness of all economic sectors (government, companies, households): At the beginning of 2021, global debt was $281 trillion or 355% of world GDP — a steep rise from $67 trillion, or 198% of world GDP in the year 2000.

The combined overall effect is that mankind is wasting a tremendous amount of resources. Millions of people are thus unnecessarily kept in poverty or prevented from fulfilling their full potential.

The evil of fiat money is especially devious because of how unseen it is. It seems to work fine on the surface as the negative effects are all indirect and to understand their cause, one needs to carefully study economics and history. This, in turn, leads many to blame the devastating effects of fiat money on the free market, with an inevitable conclusion that it is more central planning that we need, not less.

Fix the money, fix the world is a very fitting slogan that captures the essence of the problem.

Before bitcoin, there wasn’t much hope for fixing money. Those who understood the problem of fiat money couldn’t offer a satisfying alternative. Some believed that we should return to the gold standard — but this begged the nagging question of its practicality. A return to the gold standard would have to be orchestrated by the government; the very same institution that greatly profits from the existence of fiat money. The pre-bitcoin era was thus very depressing for the free-market monetary economists.

Bitcoin is a much more pragmatic alternative to fiat money than gold could ever be. Gold requires trusted third parties such as banks and trusted monetary instruments such as checking accounts and banknotes, if it were to function as money in the modern economy. Bitcoin, on the other hand, comes with worldwide transaction capabilities that rely on cryptographic assurances rather than trust.

Don’t underestimate how early we still are in the race between bitcoin and all the world’s fiat currencies. Most people are still skeptical or completely ignorant about the prospects of bitcoin fixing the problem of fiat money. Starting to save in bitcoin now and protecting your legacy via hardware wallet use is one of the most impactful decisions you can make in your life.

You are not too late for bitcoin.

Be Optimistic

Many people have a pessimistic outlook, considering the events of the past 18 months. But when in doubt, zoom out. We are living in a very optimistic era. The idea of central planning in the field of production and distribution of goods has been discredited long ago. Most of the greatest problems of history are all but solved. And we have the solution at hand for the persistent meta problem of fiat money.

Compared to the hopeless situation of someone born 100 years ago, we have it so much better now. The sad fellow from the beginning of the article had very limited information about what is going on in the world and almost no hope of escaping the consequences of the centrally planned economy. His one chance at a better life was to physically escape — an option with high personal risks and very uncertain outcomes.

Today, we have an option to opt out of monetary central planning no matter where we live. We can literally take money into our own hands, while relying on no one and preserving our privacy.

And that is a reason to be optimistic.

This is a guest post by Josef Tětek. Opinions expressed are entirely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.


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Altcoin Roundup: Layer-one protocols chip away at Ethereum’s dominance.

The rise of decentralized finance and nonfungible tokens has transformed the blockchain ecosystem and generated near unimaginable riches for investors, but none of this would be possible without the strong foundation offered by layer-one blockchain networks like Bitcoin and Ethereum. 

Smart contracts and layer-two protocols promise to revolutionize the finance and logistics industry, but they require a robust, secure and distributed network to operate on and to ensure their immutability.

Currently, most of the top layer-two projects operate on the Ethereum network, and this has resulted in increased transaction costs and delayed confirmation times due to network congestion.

The network’s recent London hard fork attracted a lot of attention due to the implementation of a fee-burning mechanism that could eventually make Ether (ETH) a deflationary asset, but it did little to solve the issue of high transaction costs, and the average transaction cost has actually risen since its implementation.

Due to high fees and limited scaling capability, competing layer-one protocols such as Avalanche, Terra and Cardano have been rising in value and attracting new users in recent months as popular projects bridge their ecosystems to these next-generation blockchain protocols.

The rush to Avalanche

One of the biggest price gainers in August has been AVAX, the native token of the Avalanche protocol.

Excitement for the project began to rise following the release of the Avalanche Bridge on July 29. The bridge supports new cross-chain bridging between the Avalanche and Ethereum networks, and the user-friendly nature of the product opened the gates for new users to enter Avalanche’s burgeoning ecosystem.

As of Aug. 24, the bridge has processed more than $1 billion worth of transfers between the two networks, and there are plans to list new assets and stablecoins like USD Coin (USDC) in the near future.

The protocol has also teamed up with blue-chip decentralized finance (DeFi) projects such as Aave, Curve and SushiSwap for the “Avalanche Rush DeFi Incentive Program,” a $180-million liquidity mining program designed to bring more applications and assets to its growing DeFi ecosystem.

Funds for the program will be used to provide AVAX rewards as liquidity mining incentives for Aave, Curve and SushiSwap users over a three-month period.

DeFi protocols native to Avalanche have also seen a dramatic increase in the total value locked on their platforms. Pangolin leads with a $379.4 million total value locked (TVL), and Benqui has already surpassed the $1-billion TVL mark, according to data from Defi Llama.

Avalanche also has a transaction burning fee mechanism in place, which has burned more than 182,000 AVAX as of the time of writing.

A layer-one with a stablecoin focus

Terra is a unique blockchain protocol in that it has a broad focus on using fiat-pegged stablecoins such as the network’s TerraUSD (UST) to power price-stable global payments systems.

The protocol’s native LUNA token saw its price surge 530% between July 20 and Aug. 24 as a unique token burning mechanism and ongoing community vote to upgrade the network put pressure on the token’s value.

On Aug. 25, the Terra community successfully voted to migrate the Terra network to the Columbus-5 mainnet, and it is expected to be fully launched on Sept. 9.

The Terra ecosystem has been steadily growing throughout the year as established projects such as Curve and integrate UST into their stablecoin pools, and new projects launching on Terra blockchain also benefit from its stablecoin payment capabilities.

Terra ecosystem. Source: Terrians

One of the network’s most popular applications is Anchor Protocol, a savings protocol that offers UST holders low-volatility yields on deposits, while LUNA holders can lock up their tokens as collateral to borrow stablecoins.

The platform helped to boost network activity and ecosystem-connected tokens after it added Ether as a collateral option to mint UST on Aug. 13.

Since the introduction of Ether as a form of collateral for the Terra ecosystem, the total value locked on the protocol has pushed above $6 billion, according to data from Defi Llama.

This makes Terra the third-largest blockchain network by TVL behind Ethereum and Binance Smart Chain.

Related: Stablecoin adoption and the future of financial inclusion

Cardano investors anticipate the network’s smart contract rollout

Another project that has been gaining traction thanks to the promise of smart contract functionality is Cardano, a proof-of-stake blockchain protocol.

The smart contract rollout led Cardano’s ADA token to rally more than 190% in the past three weeks, and investors are excited that DeFi applications will launch once the smart contracts are enabled.

The network and token have also benefited from a high rate of engagement in staking pools, and the most recent data from PoolTool indicates that 70.98% of the circulating supply of ADA is staked on the network.

The protocol has also developed a nonfungible token (NFT)-maker that allows users to mint NFTs without the need for smart contracts through the creation of “native tokens.”

DeFi and NFTs have been the biggest attention grabbers in the crypto ecosystem this year, so the possibility of being able to operate both on the Cardano network may have contributed to ADA’s current rally.

As blockchain technology and the cryptocurrency ecosystem continue on the slow march to mass adoption, the field of competing networks is expected to intensify.

Ethereum is currently the top layer-one blockchain network in terms of smart contract capabilities and active protocols, but it must continue to evolve because a handful of competitors is quickly gaining ground.

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.