In the Current Era of technology, Cardano is among the top 10 listed cryptocurrency and continuously under the radar of major crypto investors, let’s try to figure out the Cardano Price Prediction.
Well, no one can predict the exact price of any currency and cryptocurrency is more volatile than any other market you have invested.
Hence this guide is more sort of discussion around the team which is working for Cardano and the potential of Cardano to grow in the future.
We will also highlight the point and view of many technical experts and continuous partnership of Cardano with big ventures.
Well, if you are aware of Cryptocurrency and blockchain technology than it will be easy to understand what is the importance of Cardano.
If not, then I would suggest having a look for what is Blockchain technology and how it works.
In addition to Cardano here is our Top 10 best Cryptocurrency investment guide based on past price movements and current trend.
Lets first brief about, what is Cardano and how it has been created.
What is Cardano (ADA)?
Cardano was started back in 2015 and after 2 years of proper planning, it got launched in the year 2017 as an open source blockchain based decentralized platform.
It is the one and only project in cryptocurrency which has its peer to peer review concept before deployment of any code changes.
The Founder of Cardano is Charles Hoskinson as he was one of the brains behind the creation of Ethereum.
It has not only a team of developers but also a team of scientists, professors, and engineers and one of the most trusted ongoing blockchain projects till date.
Just to remind you that you are planning to invest in ADA Coin, not on Cardano blockchain technology.
Cardano has been introduced to solve the three most problems of blockchain technology.
Interoperability – Create a blockchain network, which can talk to another blockchain and share the data as the current banking network does.
Scalability – Ability of a blockchain network to scale up to millions of transactions per second as the required user base will get an increase.
Sustainability – Create a mechanism, so the funds will be accumulated in a treasury to be reused for future project innovation.
It is created with the same vision of providing the smart contract to build upon the Cardano blockchain network as provided by Ethereum.
But the Founder of Cardano Charles Hoskinson claiming to be Cardano as the Third generation of Blockchain technology.
Cardano has also introduced two layers of operations, one is the computational layer were based on country regulations, you can modify the rule while creating a smart contract.
The other is the settlement layer, where the actual transactions of ADA coin or payments will happen, in another word backend process.
Let me clarify you that Cardano is currently in the development phase, which has just now completed its first phase and second is in progress.
This project will be in actual use, only if it will finish around 3 out of 5 phases in total.
I hope you got an idea or overview of what is Cardano and why this has been introduced, to learn or know more in detail check our Guide on What is Cardano and How it works?
This time let’s focus on Cardano Price Prediction and future growth possibility.
Cardano Price Prediction: Factors
We will try to focus on various aspects, which could help us to highlight the price growth possibility of Cardano.
Before predicting Cardano Price, let’s have a look for the past price movement of Cardano.
Initial Price History
As Cardano was started back in 2015 but its actual trading was started after 2 years on Bittrex and was listed with CoinMarketCap on October 2017.
At the initial, the price of the Cardano was around 0.021$ and it touched as high of 1.22$ on January 2018.
This was close to 60 times of your investment in just 3 months, imagine if you have invested 100$ that was become 6000$ in just 3 months.
While figuring out the market capitalization it rose from $0.56 Million to $31 Billion and unfortunately, it dropped back as was happened with all crypto market.
Currently, Cardano(ADA) is trading around 0.067-0.08$ and market capitalization of around 1.72 Billion Dollar.
This price movement and potential we have already seen in the past and currently, the total market cap is approx 20 times less than actually traded.
Hence, you can expect this rise in future once Cardano is fully developed and more use cases will be created on the network.
Let’s figure out what Technical analyst says about Cardano Price prediction.
Price prediction based on Technical Analyst
We have seen the trend of Crypto or any investment market that people use to do some market trend analysis using the candlesticks.
And yes the same case is with Cardano(ADA) coin. But unfortunately, the analyst cannot analyze the market for the long term.
Cardano is having just 1 or 2-year market trading history which will not allow judging the market for a longer run.
Hence most of the technical analyst has done Cardano price prediction for a short term only.
Wallet Investors is quite pessimistic about Cardano price prediction and hoping that by end of 2019 it will reach to 0.01064 USD which is 6 times less than the current price.
SmartEreum is another technical analyst, predicting ADA will be traded around 1$ in coming future.
Theoofy is predicting Cardano price prediction in between 1.32$ to 10$, yes but it is unlikely to have 10$ at this earliest as still, this platform has to grow more and more.
CryptoGround is predicting ADA coin price up to 0.12$ by end of 2019 and in-coming, 5 years may touch up to 0.97$.
In summary, I must say all technical analyst are hoping on an average price of ADA close to 1 USD by end of 2019 or 2020 or maybe in the coming 3-5 year.
Well, this is a price analysis based on current trading history and existing project status but there are another lot many factors depends on the price movement.
Now, let’s focus on the organizations and team behind Cardano(ADA).
Price prediction based on Team
Well, the key factor which still holding the strong belief to any cryptocurrency project is the strong team working behind that product.
Cardano has three strong pillars which taking care all around progress of Cardano development, marketing, and joint partnership.
Earlier Cardano was in full control of Cardano Foundation but later was handover to below listed two prominent firms, hence it has a total of three strong teams working behind it.
- Cardano Foundation – The nonprofit organization, responsible for managing all the activities happening in Cardano project development.
- Input-Output HongKong(IOHK) – IOHK is the key team behind the development of Cardano and responsible for all coding, testing, and technical implementation.
- EMURGO – It is responsible for the adoption of Cardano and adds values to ADA holders by advertising, finding investors and wide adoption of Cardano ecosystem.
The key brain or hope of successful race of this project is Charles Hoskinson, he is the Founder of three key cryptocurrency related startups -Invictus Innovation, Ethereum, and IOHK.
Charles Hoskinson is the founder of Cardano, co-founder of Ethereum and CEO of IOHK, his current focus is to make Cardano a fully decentralized blockchain technology.
So Blockchain could come in real mainstream and should be widely accepted. Every word put by Charles Hoskinson makes a lot of sense for all ADA coin investors.
Overall I must say Cardano is backed by a very strong team and great brain behind it and the team is highly keen to get this project for a true long run blockchain technology.
This belief of team, making every investor hold tight for ADA coin as it may rise any time in the future and it is not going to close in any short time.
By measuring the team potentials people are predicting Cardano long-run price may hit around 5$ by 2023.
I believe, 5$ is a realistic prediction as the current stage of Cardano is development only and it got wide popularity and what it becomes fully live and actual use cases have been implemented.
Partnership of Cardano
Till date, as I said Cardano is an ongoing development project and not much partnership move we have seen in Cardano world.
But yes, they have started targeting a full country, they have just signed a Memorandum of Understanding (MOU) with Ethiopia’s Ministry of Science and Technology.
Ethiopia government is aiming to use blockchain technology for benefiting domestic agriculture.
Team has set up some learning educational centers in various country locations to learn the development of Cardano blockchain network.
So this seems that progress or adoption of Cardano is just started and this may increase as the future development of Cardano will get the finish.
Issues with Cardano
Cardano is currently in the development phase and it divided its complete development into total 5 phases.
Its five phases are – Byron, Shelley, Goguen, Basho, and Voltaire, where currently the first phase Byron has been completed with all the bug fixes and code implementation.
Shelly and Goguen are parallel in progress and people are rigorously waiting for this to be completed.
Which is expected to be released by the end of 2019 and the biggest challenge with Cardano is it handhold in between lab and coding.
For every new change or development, a detailed research paper will be written and then it will be peer-reviewed by labs and once approved actual code implementation will start.
So it is a very slow process than all other projects, which cannot help us or Cardano Foundation to derive any futuristic roadmap to complete this project.
Earlier it was supposed to finish Shally phase by end of Q3 2018 but it was delayed to Q1 of 2019 and now again pushed forward to somewhere end of Q2 2019.
This making uncertain that when this is going to be completed and by watching this it seems like Cardano price prediction of 0.13$ looks futuristic as half of the project will be delivered.
I would expect this project to move very fast in coming future as they are collaborating with other 3rd parties and if this is so still it seems like before 2021 it won’t finish at all.
Well, that proves that the price of Cardano will not increase that much as you expected in the coming days.
Competition in Market
In the current market around 2000+ cryptocurrency traded in the market and few of them are way before 2015 and so and providing the full-fledged platform.
But Still, Cardano holds its position in top 10 Cryptocurrency by market capitalization. But why?
Because of a strong team and innovative decentralized technology but still, there is a great competitor of Cardano.
Such as Ethereum and EOS, as Ethereum is one of the first platforms which provided the smart contract to build upon blockchain technology hence this is the 2nd generation of Blockchain tech.
But it has an issue with scalability and many more. So EOS introduced back in 2017 and one of the most famous project after Ethereum as in ICO itself raised around 4 Billion USD.
Hence both EOS and Ethereum are already active and running blockchain project, they already have their own strong community backing behind them.
It already proved that fast and first mover will always win the race and already these two big giant are in the industry.
But this is technology and if Cardano which will be coming in the future is more superior than first, it is possible that it may win the race but as I said this will take more than 5 years of time.
No one can doubt the Cardano technology and idea behind its creation. It is definitely going to rule in the coming future if got completed on time and got wide adoption.
Do you Invest in Cardano?
This is the toughest question I am answering for Cardano. Well if you are already a crypto investor than you are aware of the volatility of the price.
Sometimes we have seen price movement as very high and sometimes very low and we have also seen that the whole crypto movement is parallel to Bitcoin.
Still, the future of cryptocurrency is uncertain but now the adoption of blockchain technology is not only for Cryptocurrency like Bitcoin.
It has many more use cases has been implemented such as Ripple and Stellar for banking and financial institutes.
EOS as the virtual decentralized operating systems and Tron (TRX) as the decentralized internet and for the decentralized App creation.
In a similar way, Cardano is claimed as fully decentralized blockchain technology and as the third generation of blockchain technology.
As a crypto investor, I strongly feel that you have had some stake with Cardano as well, as this can be the game changer of Crypto.
If in future Blockchain adoption will become more prominent than I can assume that Cardano will be the first choice for all new adoptions.
My View on Cardano Price Prediction
Well, I have already highlighted all possible factors which are going to decide the Cardano price prediction.
But what I assume is, if the progress with the project development will remain to continue as it is now, then it may take longer than 5 years to reach close to 5 $ price.
But this is a crypto world where you can see a spike in price overnight with small positive news or updates.
But this price will again settle down to the original once that trend end, so I assume you should hold some shares today and keep updating with market news.
Once Bitcoin starts pumping, it is definitely true that the price of Cardano will go up, so you can place your trade based on Bitcoin rally.
Cardano Price prediction is a kind of gambling, no one can assure you the perfect price but yes the team is very strong and technology is superior to others.
If you like this then check our best Top 7 picks for Altcoins which are growing project and may give you some benefits in the future.
Which proves that this project is going to be very strong in the coming future and the price of Cardano may rise to the subsequent level.
Well, If you are crypto Investors and looking to convert Bitcoin to USD or any fiat currency than we have an exclusive guide for you.
What do you think about Cardano ADA Coin, will this touch 10$ magical figure in next 5 year or will hide somewhere as happened with more than 90% of other Cryptocurrency.
Latest posts by Kirtish Vyas (see all)
- 7 Types of Websites In Demand That Makes you Milionaire in (2020)? - February 20, 2020
- Bitcoin,Ethereum transfer from Coinbase to Bittrex (2020) :Step By Step Guide - February 7, 2020
- 5 Tips On How To Create Passive Income With No Money (2020): Make $1000 /Day - February 5, 2020