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Bitcoin's Rise to $65,000 Is Driving Gains for Bitcoin Cash, Bitcoin Satoshi's Vision, and BRC-20 Tokens
Bitcoin has surged past $65,000 and is approaching its all-time high of $69,000. This upward momentum is also benefiting Bitcoin Cash (BCH) and Bitcoin Satoshi's Vision (BSV), which have seen significant gains. Additionally, BRC-20 tokens like Ordi (ORDI), SATS (1000SATS), and Multibit (MUBI) are experiencing strong rallies, thanks to the capabilities of the BRC-20 protocol. #ADA#
As Bitcoin (BTC) is currently in a bull run, eclipsing the $60,000 mark once again, the spotlight has turned to ADA performance in comparison. With a history that mirrors Ethereum’s (ETH) early days, ADA’s journey through the market’s ups and downs has prompted a closer examination of its potential trajectory.
The eighth-largest cryptocurrency by market cap, ADA has seen its fair share of highs and lows, with a recent uptick in price sparking both interest and speculation about its future.
Particularly, Cardano’s current trading level, lingering below the highs of the March-April 2021 bull run, has raised eyebrows, especially when juxtaposed with Bitcoin’s bullish momentum.
During the last peak period when BTC hit $60,000, ADA traded above $1. Yet, as Bitcoin revisits its former glory, ADA’s valuation stands around $0.6, presenting a curious case for analysis.
Dan Gambardello, a crypto analyst have drawn parallels between ADA’s price action and Ethereum’s historical performance, suggesting that ADA may be on the cusp of a “significant breakout”, akin to ETH’s journey post-2017.