The decline in Bitcoin's price and other major cryptocurrencies continues amid investors' concerns about a slowdown in the US economy. Cardano's founder, Charles Hoskinson, shared the project's achievements post the Chang upgrade.
Bitcoin Price Decline
In the early trading session Wednesday, the price of Bitcoin continued its steep decline, reaching a low of $55,555. This happened amid intensified investor concerns about signs of economic slowdown in the US. The fall in cryptocurrency prices was exacerbated by anticipated US employment data, which might signal further economic downturn.
Cardano's Chang Upgrade
The founder of Cardano and CEO of IOHK, Charles Hoskinson, spoke out about the achievements of the project post the Chang upgrade. In his social media post, Hoskinson discussed Cardano's impact on numerous individuals and noted that the Chang upgrade was one of the greatest technological feats in human history, bringing onchain governance to the token.
Current ADA Price
At the time of writing, ADA is trading at $0.3228, down 0.50% in the last 24 hours as per data from CMC. Moreover, the trading volume is up 39.52%. In the last 7 days, the price has declined by over 8%. The price recently found support at $0.31 level and has briefly recovered. If the price manages to climb above $0.33 level, then it will likely climb further to test $0.35 resistance level. Conversely, if the price manages to go below $0.31 level, then it will likely test $0.29 support level.
The continuing decline in Bitcoin's price and other cryptocurrencies raises investors' concerns. Meanwhile, Cardano continues to evolve, marking the successful implementation of the Chang upgrade and impacting numerous individuals globally.
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