Price Analysis

Cardano (ADA) Price Predictions: Cardano’s Future Bearish Course has Worried the Investors

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Cardano (ADA) is a leading cryptocurrency which facilitates complex programmable value transfers with complete security. The transactions are scalable as well. The Cardano platform is based on the Haskell programming language. It has been developed by a group of leading engineers and expert researchers. Cardano (ADA) aims to set up a democratic payment system which will have the power to replace the conventional payment system.

Current Statistics-

CardanoCardano (ADA) is the 10th largest crypto coin in the market. It has an ROI (Return on Investment) of 233.59%. The total coins in current circulation are 25,927,070,538 ADA. The market cap as on 22nd April at 02:44 UTC stands at 1,874,217,942 USD. The value of each coin in terms of USD and BTC stands at 0.072288 USD and 0.00001371 BTC respectively. The 24 h volume at the same UTC stands at 86,989,384 USD.

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Comparison-

Cardano (ADA) has started the year 2019 with a very low value. It was at 0.04 USD. The journey of Cardano till now has not been very consistent. It has grown to its highest level after the 1st April boom. Before that, it has been subject to many ups and downs. The lowest price in 2019 was reached at 0.037 USD on February 1st. The market cap on 22nd March was 1,383,808,004 USD. And the value of each coin in terms of USD and BTC was 0.053373 USD and 0.00001324 BTC respectively. The current market cap is 35.43% more than the market cap of a month back. The same way, the value in USD is inflated by 36% in the last 30 days.

Prediction-

As the coin is now hovering around 0.07 USD, it may fall further to the 0.05 USD level. It is on the path of price correction after the undue April 1st boom. After reaching the desired level, it should go up. By the end of this quarter, the price should be somewhere around 0.06 USD to 0.07 USD with a stable outlook. The resistance at growth should be there after 0.007 USD. The 2019 prediction goes with a higher mark of 0.05 USD. By the end of 2020, it should go past in multiples of 1 USD.

Conclusion-

We advise the short term investors to wait for some more time to see the end of price correction. The medium-term and long term outlook is definitely bullish. Investors should get much profit by holding onto their investments for a year and so.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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