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How high can the Cardano price rise in the future?

 


What is Cardano?

Cardano is a blockchain network founded in 2017. The founder of the project was the Ethereum co-founder Charles Hoskinson. Cardano uses the modern Proof-of-Stake consensus mechanism to verify transactions. Cardano's network token is the ADA.


Cardano Course

Cardano has become one of the most successful blockchains in the last 5 years. Above all, the combination of scalability, decentralization and security makes the Cardano blockchain so special. Cardano impresses with its long-term development and its technical brilliance, which puts it ahead of many other blockchains.


How did the Cardano price develop in 2022?

Already in the last few months of 2021, Cardano’s ADA token lost significantly in price. In September, the Cardano (ADA) price was still above $3. In the months that followed, the cryptocurrency dropped significantly in value. By the end of the year, Cardano had already lost about half the value of its all-time high .


In 2022 we saw another downtrend. From $1.40 at the turn of the year, the ADA price recently fell to $0.50. That means a heavy loss in 2022. However, the percentage losses in 2022 were not as high as Bitcoin's losses. However, Cardano 's ADA lost about 80% of its value since the all-time high.


Why did the Cardano price drop so early?

While the bull market in bitcoin and other cryptocurrencies lasted until November, the Cardano price had already lost a few months earlier. The main reason for this was the emergence of strong competition in the fall of 2021. Cardano experienced a massive bull run due to the introduction of smart contract features. The Basho development phase was completed in autumn 2021, which resulted in a massive Cardano price increase


Cardano Roadmap

In the weeks that followed, we saw the massive rise of Solana (SOL). This blockchain is characterized by an extremely high transaction speed and also relies on smart contracts. Solana was considered the blockchain of the future and the "Ethereum killer" . This title has long been reserved for Cardano. 


A blockchain like Avalanche also gained massively in value towards November/December. This competition weakened the hype surrounding Cardano and fell sharply by the turn of the year.


Should you buy Cardano in the bear market?

Like the other cryptocurrencies, the ADA token fell more in June due to the crash. However, Cardano's drop was not as small as bitcoin's and other cryptocurrencies' drop in this crash. This may be due to the fact that the Cardano price was already at a very low level.


Since the Cardano price has now fallen to an even lower level, buying new tokens could be much more worthwhile at the moment. At this low price you can buy many ADA tokens and accumulate the token over the next few weeks. This could massively increase your returns if you can purchase a large number of tokens over the near future.


Can the Cardano price rise again?

Cardano’s price is extremely low right now compared to the prices of the last few months. Nevertheless, the value of Cardano’s ADA token should increase massively again in the future. The further development of the Cardano project could ensure this . Because the development of the blockchain is planned for the long term.


The development of the Cardano blockchain is divided into 5 phases , in each of which a specific area of ​​the blockchain is further developed. In the last phase, Goguen, the smart contracts were established at Cardano, which also triggered the massive bull run to $3.


In the coming weeks and months, Cardano will be working on increasing scalability. This takes place in Phase 4, Basho. Cardano should achieve transaction speeds of up to 100,000 per second. If Cardano continues to develop so excellently, massive price increases are very likely in the future.


How high can the Cardano price go in the future?

The Cardano price has already risen to an all-time high of $3. Before the last bull market, this price was around $0.10. This shows that the Cardano price can increase many times over in a bull market. Here, the introduction of smart contracts and the conclusion of a phase of development coincided with a bull market.


Right now we are in a bear market and the price of Cardano is at a bottom for the past few months. Nevertheless, the price is much higher than it was a few years ago. Thanks to its excellent, long-term development, Cardano has great opportunities to play an even more important role in the next bull market. 

The Cardano price could therefore rise to over $10 in the next bull run. This would represent a 20x increase, which is less than the increase seen in the last bull market. 


Can Cardano replace Ethereum?

An important question for the future of Cardano will be whether the blockchain will become a competitor for the market leader in smart contracts, Ethereum, or even replace Ethereum. The nickname "Ethereum Killer" came about because Cardano processes transactions much more efficiently than Ethereum.


Cardano uses proof-of-stake, which Ethereum is only now switching to as part of Ethereum 2.0. This makes Cardano much faster, cheaper for transactions and faster to process. Ethereum has the advantage of being the basis for decentralized applications for years and is massively ahead of all other blockchains in terms of the number of smart contracts.


In the future, Cardano Ethereum could become dangerous, especially if the scalability of Cardano increases massively through Basho . Should this happen, the Cardano price could still climb into the $100 range in the next few years. Extreme optimists even see a Cardano price of $1,000 in the future. 


One thing is almost certain: The current prices for Cardano (ADA) are extremely low due to the bear market and invite you to buy.

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