As forecasted in my 27 February 2021 article, "Why Cardano is the right investment right now! PART 1. A fundamental look at Bitcoin, Ethereum and Cardano.", I projected a wild summer for Bitcoin to reach or surpass $80,000, after the then ongoing correction. It seems the correction is over. I also stick with my analysis that Bitcoin is the new gold of the internet of things, the perfect anchor for this new era of fintech. Furthermore, I believe Ethereum will stay above $2,000, which it recently broke. Now as for Cardano...
Cardano (ADA) forecast.
As for Cardano I predicted that ADA would eventually break significantly higher when looking at its previous high of 0,000071 BTC. This breakthrough can and will only happen this summer when Cardano shines a light on its new era with new projects launching on the ADA blockchain:
Let's first take a glimpse on some very Bullish Cardano news:
- ADA/BTC pair still far belong previous all time high of 0,000071 BTC;
- Smart contract platforms to become layer foundation for future currencies, blockchain or CBDC;
- A pipeline with several promising projects;
- Grayscale dedicated Cardano trust in development;
- Arabian investors buying up ADA;
- 100x faster than Ethereum;
- Well decentralized;
- ADA utility use-case for staking, fees and network changes;
- Rigorously testing of all new features;
- Focus on Africa's unbanked.
What botters me:
- Cardano mentions way too often what is in the pipeline, whilst it is now 'just' a staking-only blockchain, let's be honest about it. That's it. Most of the ADA token value therefor contains a lot of the promises which are already calculated into its price. There is no more need, at least for me, to hear about all the stuff that's coming: I just want to see what they bring to the table this summer.
For now, Ethereum remains comfortably in its seat as the absolute market leader of the smart contract landscape.
I see quite some room for Cardano's price to grow, especially when comparing to BTC. I do however want to see several results:
- I need to see Liqwid Finance released successfully (DeFi project on Cardano);
- I need to see the Cardano Token Builder working;
- I need to see the ERC-20 converter in action;
- These developments are the basis of future ecosystem growth.
The successful roll-out of several promised projects and upgrades will be the determining factor for the much-anticipated breakthrough summer for Cardano. Without it I see clouds appear. However, I remain positive and hope the team can pull it off. In case of success, Cardano fundamentally has the same market capitalization potential as Ethereum, but Ethereum does have the early-adopter and network advantage, a huge ecosystem and it is scaling its network. I expect ADA to break well above 0,000071 BTC.
If implemented successfully, Cardano can outperform Bitcoin this summer and have a pretty good run, passing its former all time highs and setting a higher low.
Cardano website: https://cardano.org/
Cardano explorer: https://explorer.cardano.org/en
Cardano Daedalus wallet: https://daedaluswallet.io/
How to stake ADA - tutorial: https://www.youtube.com/watch?v=A9ZoS-aCdSs
How to vote with Cardano Daedalus 3.3.0: https://www.youtube.com/watch?v=c84O6L9oBYs (Minimum 3,000 ADA required!)
This is by no means financial advice.