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📅 Event Duration:
May 16, 2025, 8:00 AM – May 23, 2025, 06:00 PM UTC
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Post on Gate Post with the hashtag #Bitcoin Pizza Day# during the event. Your content can be anything BTC-related — here are some ideas:
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Will Cardano (ADA) rise back to $1 when the market recovers?
Cardano founder – Charles Hoskinson predicts Bitcoin will reach $250,000 by 2025
Charles Hoskinson, the founder of the Cardano blockchain platform, stated in an interview with CNBC that Bitcoin (BTC) could very well break through to $250,000 "by the end of this year or early next year." This bold prediction is based on the expectation that global trade tensions will ease as countries enter negotiations with the U.S., paving the way for financial market stability.
"The market will gradually stabilize again, and people will start to adapt to the new normal. When the Federal Reserve begins to lower interest rates, cheap capital will flow strongly into the cryptocurrency market," Hoskinson shared with CNBC.
As of Friday morning, Bitcoin is trading around $80,300. Previously, this coin had a slight correction after soaring to $83,588 on Wednesday — a sign that profit-taking pressure and macroeconomic factors are still present.
According to Hoskinson, the value of Bitcoin is currently backed by solid fundamental factors, especially the rapid increase in the number of individual investors holding digital assets. He asserts that cryptocurrency is the ideal investment channel in the context of globalization facing many challenges, as trade agreements and issues of national sovereignty become increasingly complex.
However, he also noted that the market may enter a prolonged sideways phase "for about three to five months to come," before a strong speculative wave could erupt in August or September.
Can the price of ADA break through to $1?
The price of Cardano (ADA) has held steady above the important support level of $0.50 – coinciding with the lower boundary of the descending parallel channel – during the early trading session of the week, despite the pressure from a wave of sell-offs across the cryptocurrency market amid concerns over retaliatory tariffs from President Trump. This solid foundation paved the way for a strong recovery right after the White House announced a temporary tax delay for 90 days on Wednesday, thereby helping to ease market sentiment and mitigate the negative impact from previously enacted tax levels.
The positive reaction from investors quickly transformed into strong demand for ADA, driving this coin – now ranked tenth in market capitalization with a total value of $22.53 billion – into a new bullish cycle.
Cardano is currently trading at $0.62. Although the bulls have attempted to maintain the recovery momentum during the Asian trading session on Friday morning, the buying pressure has not been strong enough to push the price above higher levels.
On the daily chart, the Relative Strength Index (RSI) has bounced back to 43.65, indicating that selling pressure is gradually weakening. If the RSI can surpass the neutral threshold of 50, this would signal a strengthening of the recovery trend, triggering additional new buy positions with the target nearing the midpoint of the price channel – currently acting as resistance around $0.75. However, for the bullish trend to be sustainable, trading volume also needs to increase in tandem with prices, in order to enhance the likelihood of ADA retesting the psychological level of $1 – coinciding with the upper boundary of the long-term downtrend channel.
If it cannot break through and turn these technical thresholds into strong support zones, the current upward trend may be hindered, opening opportunities for the bears to regain dominance. In this context, the support zone at $0.50 remains a crucial barrier, determining Cardano's ability to establish new price peaks in the short term – while also raising the risk that ADA may have to return to test the old support zone around the $0.40 mark, which was previously a formidable resistance.
Disclaimer*: This article is for informational purposes only and is not investment advice. Investors should do their own research before making any decisions. We are not responsible for your investment decisions*
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