Price Analysis

Cardano (ADA) Price Prediction: Cardano’s Price Correction Will Last Longer; $1 Target Seems Unlikely

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Cardano (ADA) is a blockchain based crypto platform which relies on the Haskell programming language. It maintains complete decentralization and anonymity. The transactions done on this platform is done securely, and all those transactions are scalable. Cardano (ADA) is a major blockchain platform created by a group of expert engineers and researchers driven by scientific philosophy and a research-first driven approach. Cardano (ADA) has a vision of replacing the conventional payment and settlement system with a democratic treasury system.

Current Statistics-

Cardano

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  • Cardano (ADA) is ranked at 10th position in the market.
  • The ROI (Return on Investment) stands at 215.24 %.
  • The total Cardano coin in circulation stands at 25,927,070,538 ADA.
  • The current market cap as on 29th April at 03:44 UTC stands at 1,772,910,523 USD.
  • The value of each coin stands at 0.068381 USD and 0.00001294 BTC.
  • The 24 h volume at the same UTC stands at 44,006,620 USD.

Comparison-

Cardano (ADA) has come a long way if the starting rate at the beginning of 2019 is considered. The coin started at a humble price of 0.04 USD. It maintained stability until April. On the onset of April, it gained around 50 % in 4 days. However, the momentum was lost very soon and the coin is going through price correction now. The market cap on 29th March was 1,789,410,927 USD. The value of each coin was 0.069017 USD and 0.00001703 BTC. The current market cap is 0.92 % less than the market cap of 29th March. The value of each coin has increased by 0.9215 % in these 30 days.

Prediction-

The value of each Cardano coin is being traded around 0.7 USD now. The value is under price correction stage and it is surely going to inflate in the coming times. The next resistance should be at 0.92 USD. From there it might face some days of low growth to bounce back. The long term and medium-term outlook are bullish. Experts predict that Cardano will go past 3 USD by the end of 2019. 2020 prediction also seems bullish. The value may reach as high as 7 USD.

Conclusion-

As the value of Cardano (ADA) is at its lowest level, short term investors should consider buying it now. Locking positions now can give them huge profits over a months’ period. Long term investors can get a profit yield of 4 times the value of their current investment if they stick to their holdings till 2020. Patience is the key here for Cardano (ADA) holders.

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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