Bitcoin and ADA Rally To The Moon

The big news for traders crypto this year!

Bitcoin had investors and traders worried at the start of last week (middle August 2021)  after the BTC/USD pair dropped to the low $44,000s after testing $48,000 a couple of times. Analysts pointed to a large sell wall at $48,000 that would be necessary to topple before making a move to $50,000.

Last week, BTC finally made a massive swipe at the resistance and moved beyond $48,000, clearing a potential path to $55,000 in the near-term

ADA hit its all-time high last week as anticipation over Cardano's upcoming smart contracts upgrade keeps growing. Alonzo Purple, the final testing stage, went live a couple of weeks ago. Subsequently, Cardano announced that the Alonzo smart contracts update will go live on 12th September.

ADA touched its previous all-time high of $2.47 on 16th May. Last week, on Friday, ADA rallied by 7.5% to reach $2.58. At the time of writing, ADA trades at $2.45. With Alonzo on the horizon, there's still may be a long way to go yet, for ADA.