Cardano is a public blockchain driven by scientific approach philosophy and founded by Charles Hoskinson, Ethereum co-founder and CEO of IOHK, a team of engineers building Cardano until 2020 year on a paid basis. The network runs on a Proof-of-Stake consensus algorithm called Ouroboros. Cardano team has the ambitious plan to create interoperable, secure & scalable multi-asset ledger with a platform for verifiable smart-contracts.
The first step Cardano was the establishment of the blockchain’s settlement layer – the ADA cryptocurrency as a native digital currency of the network. Once development on this layer is complete, the team will move on to the more complex ‘computing layer’ that will introduce smart contract functionality.
Find more about Cardano’s technology an structure in our “What is Cardano?” project review. Here, we will observe and analyze different ADA coin price predictions and bring our own forecast in the end.
Cardano (ADA) 2018 Price Analysis
After the whole market dropped since the 2017 bullish heights, Cardano price showed a strong stability that is not often seen in the industry. The measured, peer-reviewed pace of the coin does not lend itself to sudden bombshell news that would rock the established price. Instead, ADA should be considered as long-term, safer investment vehicle.
ADA price chart from Jan, 2018 to Jan 2019 on Coin360.com
At the height of the cryptocurrency boom, Cardano price value raised to $1.33 per coin and it was very close to touch this level in 2019 year.
Current ADA’s market capitalization is $1,145,889,096 USD which is more than twice lower from YTD value. But that’s not something special as the closest competitors also lost lots of market cap. For example, Ethereum’s market cap decreased from $28,890,000,000 to $19,013,000,000 YTD, and EOS has lost from $2,000,000,000 since then.
Early & Mid 2019 ADA Price Analysis
After a prolonged 2018 bear market, the cryptocurrency industry was ready for slow, measured growth over the course of 2019. Always a healthy indicator for the entire market, Bitcoin has stabilized at a $3,600 support level in February. And alternate cryptocurrencies were showing renewed movement as investor confidence grew. Our expectations were proven by the Cardano (ADA) price growth in Q1 2019.
At the end of January, when ADA was worth $0.038 USD, we claimed that the price of the asset depends on the Bitcoin price, but due to its internal potential, it is capable of independent growth in the future.
In March 2019, when Bitcoin and all altcoins fell in value, Cardano’s ADA was the only coin to demonstrate growth with a generally bearish mood. In early March 2019, the ADA began to rise in value from $0.043 to a peak of $0.098 by the beginning of April.
That significant increase of slightly over 100% in the cost of ADA happened because of the v1.5 mainnet release, which completes the Byron stage of the Cardano roadmap.
Cardano’s Strong Points
The positive look of Cardano price forecast is largely caused by several technical factors. One of them the coin’s block generation algorithm. Mining is an accepted function of many blockchains – it provides incentive for users to validate transactions.
However, the alternative Proof-of-Stake algorithm is gaining steam as a way to reduce the absurd electrical consumption of cryptocurrency mining. Cardano’s Ouroboros protocol was one of the first Proof-of-Stake systems, and thus far the only one that is provably secure.
Furthering their desire for absolute user security, they began development of the Daedalus Wallet. In addition to the normal privacy considerations of a cryptocurrency wallet, Daedalus also privates specific spending passwords and transaction monitoring.
The wallet is also not exclusive to their ADA currency – currently it includes both Ethereum Classic and Bitcoin. Both features positively affect ADA’s price, helping the crypto to keep its stable position on the market. However, technicalities are not the only reason behind the positive Cardano price prediction for 2019. Financial behaviour of the coin is also a big factor and ADA’s price analysis shows that the coin is not like most of others.
Cardano ADA Price Predictions 2020-2025
The future looks bright for Cardano and ADA, its native coin, from the point of view given by different price predictions.
#1. LongForecast ADA Prediction
An automated forecasting site based on a technical analysis of the asset’s price history predicts an ADA value of $0.016 by the end of 2020. And they expect a trend reversal only at the beginning of 2023, when the ADA price reaches $0.049 and $0.067 in October 2023.
Well, it is possible, but in our opinion, it is unlikely if the Cardano will achieve the goals set in the roadmap.
#2. WalletInvestor Prediction
This prediction service is also quite bearish about ADA perspectives and even worse than the previous one. They see a long-term downtrend of ADA from now till 2024 with no reverse movement at all. They’ve estimated a $0.00330 USD price for ADA in 2020.
#3. CoinSwitch Price Prediction for ADA
CoinSwitch forecasts that the price of ADA can reach $1 USD mark in 2020, $2 in 2023, and $3 in 2025. An increase of ~6.500% over 5 years sounds bullishly nice, we are all for it!
#4. Cryptonewsz ADA Price Forecast
In 2022, the price of ADA will rise to $1. Fair enough, given the current development phase and Cardano’s long-term plans for blockchain development.
#5. Mrvyasidea.com Prediction
The Mr. Vyas assumes that the price of an asset will rise to $5 dollars in 5 years if the development reaches all the goals for developing network layers, from Byron to Voltaire phases.
ADA Price Prediction For 2020 & Further
To summarize, automated price predicting services forecast a negative bearish trend for ADA. However, we believe this can be ignored since the cryptocurrency market is so young and hungry for news that affects the price of a crypto asset. Fundamentally, there are some facts about Cardano and ADA:
- About 95% of coin holders are residents of Japan
- The founder and team have deep knowledge and skills for developing decentralized networks
- From a technological point of view, they were a little late with ETH and EOS, but this is a good opportunity to take into account the difficulties these projects facing right now: scalability (ETH) and governance (EOS)
We are quite positive about ADA’s long-term price projections and the short-term future also looks bright. If we talk about specific figures, the $1 dollar mark can easily be reached by the end of 2020, and further serious growth can be expected no earlier than at the end of 2020 with the release of a platform for smart contracts in Q1, as well as network scalability & governance issues being fixed in late 2020.
Buy ADA with USD, EUR or GBP
Is Cardano a Good Investment?
Cardano has a strong development team, has a separate organization for commercial promotion and a close-knit community. Therefore, we can conclude that the coin has a great future.
Is Cardano Dead?
The crypto community thinks that Cardano has a lot of potentials. Reddit users encourage each other to buy ADA at the lowest price.
When Will Cardano Staking Start?
Anybody that had ADA stored in either a Daedalus or Yoroi mainnet wallet at the time of the balance snapshot (12.00 UTC, November 29, 2019) could participate in the Incentivized Testnet and earn rewards through delegation or running a stake pool. Once the Incentivized Testnet is over, rewarded ADA will be manually transferred back to the mainnet and become spendable.
Will Cardano Go Up?
FUD and price manipulation will fade away and ADA cryptocurrency price can definitely go up.
Where to Store Cardano?
You can store Cardano in several wallets. We have a list of 6 best wallets to store ADA cryptocurrency in 2020.
Where to Buy Cardano (ADA)?
It is easy to buy ADA coin on many platforms. If you want to buy Cardano cryptocurrency anonymously using your credit card (USD, EUR, GBP), you can use the Changelly platform.
What Is Cardano Used For?
Cardano is used to directly and quickly send and receive digital funds.
How Many Cardano ADA Coins Are There?
The maximum supply of Cardano is 45,000,000,000 ADA. The circulating supply is 25,927,070,538 ADA.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. While price analysis is a useful tool, it should not be considered predictive for the future performance of any investment vehicle.
Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment. Website personnel and the author of this article may have holdings in the above-mentioned cryptocurrencies.