The post Can Cardano Price Hit $5 If Bitcoin Hits $300,000? appeared on BitcoinEthereumNews.com.

Cardano price could be on the precipice of a massive upside move as Bitcoin eyes an ambitious $300,000 milestone. Analysts have speculated how this could happen in the next 10 to 18 months as BTC’s price looks to clear an 8-month consolidation zone. Can Bitcoin’s momentum drive the price of Cardano to $5 and beyond? Why Is Cardano Price Up Today? On October 29, the ADA price increased by 4.6% to trade at $0.3491 during the London pre-market hours. This increase is likely attributed to Bitcoin’s surging above the psychological resistance level of $70,000, which has investors hoping for a new all-time high in the coming days. The crypto market is up 2.5%, with meme coins leading the rally. ADA/USDT Price Chart Additionally, analysts foresee Cardano price surging in the future as they recently announced an ADA-BitcoinOS bridge that could capitalize on the $1.4 trillion BTC market by bringing DeFi to the king of crypto BitcoinOS Makes Cardano: ☑️A DeFi Layer for Bitcoin ☑️A Privacy Layer for Bitcoin A $1.3 trillion opportunity, all accessible using BTC as gas. Bitcoiners won’t even know they’re using ADA. “BitcoinOS is probably the biggest news item Cardano has ever had.” – @IOHK_Charles https://t.co/jsZ40UU7ht pic.twitter.com/uv9nQGHZJi — BitcoinOS (@BTC_OS) October 28, 2024 This news has caused Cardano’s social dominance to surge, leading to the ‘Cardano’ term trending on X. Spikes in social dominance suggest that an asset is being heavily discussed on social media platforms, and if the discussions are positive, they are usually followed by a price increase. With Bitcoin price rising, speculation on how Cardano becoming a Bitcoin L2 could pump the price of ADA has saturated the crypto space. Will ADA Price Hit $5 If Bitcoin Soars to $300K? Famous crypto analyst PlanC has predicted, using his popular Power Law indicator, that Bitcoin…

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Filed under: News - @ October 29, 2024 5:14 am