Price Prediction ADA End of This Year
According to some observers, the Cardano network has started off better than Ethereum and Bitcoin, as it immediately adopted proof of stake (PoS) consensus.
PoS is considered more energy efficient and environmentally friendly, because it does not produce a carbon footprint like proof of work (PoW) crypto mining, which is still applied to the Bitcoin and Ethereum networks.
Ethereum itself is currently moving to PoS via a merge update, which will be finalized this September.
According to a Watcher News report, the price of the Cardano coin, ADA, is forecast to rise over the next month following the Vasil hard fork.
It is said, Vasil will be the foothold for the price of ADA to rebound, through the difficult times that occurred in the last few months. In fact, this is expected to reach US$1 again in 2023.
Even so, global sentiment still has a big hand for the outlook for the crypto market, including the price of ADA. Thus, Vasil's hard fork may not affect prices this year, if the US central bank is still aggressive in dealing with inflation.
On the other hand, Cardano Founder Charles Hoskinson said that the latest report from the White House illustrates the opportunity for Bitcoin blocking in the US.
This goes back to last March 9, when President Joe Biden signed an exclusive order to ensure the responsible development of crypto assets.
“In other words, Bitcoin should be banned. That's how you read it," said the Cardano founder.
“Hey Mia, luckily you got there with PoW, but you know, global warming is bad. So we have to ban it," the page reads.
To be precise, the US is likely planning to block or ban Bitcoin mining in the country. Lets watch.
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