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Price Analysis

Cardano (ADA) Predictions: Cardano Likely to Achieve 1 USD Target Soon

Cardano is a Haskell programming language backed blockchain platform. It is completely decentralized and facilitates anonymous transactions. The transactions are secure and scalable. The founders behind this coin are several experts, engineers, and researchers. Cardano aims to give a substitute currency to the global platform which will be decentralized and will have a democratic governance system.

Current Statistics-

CardanoCardano is currently ranked 9th in the crypto market. It has an ROI of 297.14 %. The current coins in circulation are 25,927,070,538 ADA. The current market cap as of 10th April 04:04 UTC is 2,228,197,940 USD. The value of each coin in terms of USD and BTC stands at 0.085941 USD and 0.00001647 BTC respectively. The 24 h volume at the same UTC is 125,337,508 USD. It is on a growth path as of now.

Comparison-

The year 2019 started with a very low note for Cardano. But it gained pace after the first week of March. And along with the whole market’s momentum, the growth after the 1st April was huge. The market cap of Cardano on 10th March was 1,177,019,404 USD. The value of each coin in terms of USD and BTC were 0.045397 USD and 0.00001154 BTC respectively. The value of market cap, as well as USD value, has increased by approximately 90 % in these 30 days. But since the last six days, Cardano is falling. This resistance effect can lose the huge growth it gained over the past one month.

Prediction-

As mentioned earlier, Cardano was hit by a resistance. The price of each coin fell beyond expectations. The short term outlook is bearish. The value is to fall more here making a perfect avenue for the investors to buy. The medium-term prediction also is not very bullish. The coin is likely to rise again, but it would soon face one resistance. Before reaching 0.1 USD, it will go through one more resistance. But the long term outlook is bullish. As per some experts’ prediction, the coin may reach as high as 1 USD by the end of 2019. Some optimistic experts have predicted the coin to reach even 3 USD in a few more quarters. So, it is a perfect time to make the buy, in order to make a profit of more than 400 % for the long term. Short term holders are advised to wait for the next market sign.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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