American Wrap 01 May: A Look at MATIC, Bitcoin, and Cardano.
The price of cryptocurrency MATIC has fallen following a dip in the value of Bitcoin. Close to half of investors have pulled back since “red candlesticks gained dominance on the charts”, raising concerns over falling conviction. Meanwhile, Cardano (ADA) has seen a 5% drop this week, but analysts expect a rebound once fresh buyers take advantage of the discounted price. Bitcoin traders are keeping an eye on macroeconomic events, such as the US Federal Reserve’s interest rate decision, the FOMC conference and the Nonfarm Payrolls data release, for clues on BTC price movements.
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