Cardano Cryptocurrency (ADA) Outlook: Green Bitcoin Alternative for Tesla?

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  • Cardano (ADA) prices surge after Elon Musk announces Bitcoin suspension
  • Focus on sustainable energy elicits demand for an environmentally-friendly digital currency
  • Could Ethereum-inspired ALT coin Cardano (ADA) be a perfect replacement for Bitcoin?

It’s been a busy weekend for Cardano cryptocurrency (ADA) after the Ethereum-based ALT coin proved to be resilient against a major cryptocurrency sell-off last week. The move came shortly after Elon Musk announced the suspension of BTC/USD as an alternative payment method for Tesla, highlighting the detrimental effects its mining has on the environment.

As speculation and crowd psychology remain to be the primary catalysts for price action, Tesla CEO Elon Musk has swiftly transitioned from friend to foe for BTC enthusiasts after another one of his controversial tweets resulted in a cryptocurrency blood bath last Wednesday.

As the sell-off gained traction, ADA/USD took the center stage after revealing a negative correlation to Bitcoin, Ether and Dogecoin, sending it’s prices soaring into the weekend.

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