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Can Cardano ever hit $3 again?



 If we look at the monthly chart of the Cardano course, we can see that the downtrend could continue for a long time. The current monthly candle, which closes in a few days, is bearish, just like the previous ones. Because of this, we continue to expect falling prices. The rough target is around $0.09. However, now the question arises, after the correction is complete, could the Cardano rally back to $3. Unfortunately, this question can be answered with this sentence: “No, probably not”.


In the past we had often had altcoins in the crypto market, which boomed extremely in a bull market, but did not even reach the old all-time high in the next bull run. This has happened to pretty much every altcoin except Ethereum and Dogecoin. Because of this, we assume the same for the Cardano course. While we expect it to rise to around $1, maximum $1.50, $3 is pretty unrealistic for Cardano. Cardano could work its way up to top 1 with good development work, but even that is unlikely. The community behind it is very strong, but it usually doesn't help. A good example of this is Iota or Ripple. Both coins have an extremely strong community, however, the price continues to fall.


What needs to happen for Cardano to reach $3?

As I said, the developers of Cardano have to convince people of the product. So far it hasn't been as successful as was probably expected, but that doesn't mean the project has failed. The developers could save a lot. If they design a USP (Unique Selling Point), Cardano could rise sharply and possibly exceed the $3 mark.


What you also have to consider is the market capitalization and the number of coins. As the number of ADAs continues to increase, the required market capitalization also increases. For the Cardano price to reach the $3 mark, there must be a market capitalization of around $103 billion. In comparison: Ethereum currently has a market capitalization of $138 billion.

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