Price Analysis

Cardano (ADA) Price Analysis: Cardano’s Fall is Likely to Over Soon; Aim Set at 3rd Generation Coin Status

Recently the CEO of IOHK said that Cardano (ADA) would be become the most decentralized coin by the end of 2019. Cardano’s platform is created on blockchain technology and written on Haskell programming language. It was created by a smart and scientific philosophy. The vision and aim of Cardano are to become the substitute for the global financial system and offer a complete democratic payment & settlement system.

Current Statistics-

Cardano

  • Cardano (ADA) is the 10th largest coin in the global crypto world.
  • The ROI (Return on Investment) stands at 222.77 %.
  • The total Cardano coins in current supply are at 25,927,070,538.
  • The current market cap as on 1st May 2019 at 02:34 UTC is 1,814,606,900 USD.
  • The value of each coin stands at 0.069989 USD and 0.00001298 BTC.
  • The 24 h volume at the above mentioned UTC is 63,472,324 USD.

Comparison-

Cardano (ADA) started the year with a very humble price of 0.04 USD. The value rose to newer heights within the 1st month. But that growth was temporary. It touched 0.05 USD and then got back to its normal level. After the 1st week of March, the coin gained momentum and rose to its highest level of the year on 0.09 USD on April 08th. The current price is under correction stage. The market cap of 1st April was 1,821,086,284 USD. The value of each Cardano token was 0.070239 USD. The current market cap is 0.355 % less than the market cap of 1st April. And the value of each coin has deflated by 0.35 % in this period.

Prediction-

As Cardano is going through a price correction stage, the value of each Cardano coin is likely to fall further. But the major downfall has already happened. But the value may likely to dip to 0.055 USD. From there a raise is anticipated with resistance at 0.09 USD. By the end of May, the value should be past 0.09. The long term and medium-term outlook for Cardano are bullish. By the end of 2019, the value should reach 0.9 USD or 1 USD. And of the scalability solutions are implemented, Cardano will become one of the third generation cryptos. And this will push the value to 33 USD by the end of 2020.

Conclusion-

We advise the speculators to stay out of the Cardano’s tilting market. But for long term investors, it is the best time to invest. They will get a huge return if they can hold it till 2020.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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