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Is Cardano price the golden opportunity right now?



 What is Cardano?

Cardano is a cryptocurrency that emerged in 2017. The founder of the Cardano project was the co-founder of Ethereum, Charles Hoskinson. With his own project, he wanted to create a more technically advanced version of Ethereum. Unlike Ethereum, Cardano used the modern Proof-of-Stake consensus mechanism early on. 


Cardano future

Cardano's network token is the ADA. The ADA token is used for transactions within the Cardano network. Cardano is also characterized by long-term development that focuses on continuous technical progress. Cardano uses scientific methods to improve all aspects of blockchains.


Because of the way it works, Cardano is an extremely technically advanced blockchain . It combines the aspects of decentralization, security and scalability. Due to its technical excellence, Cardano is considered a serious competitor for Ethereum and is also often referred to as the "Ethereum killer". Cardani uses smart contract functions and can be the basis of dApps. 


How has the Cardano (ADA) price developed over the past few months?

The price of Cardano or the ADA token has developed in a negative direction in the last 9 months. In September 2021, the ADA price reached an all-time high of over $3. In mid-2020, the rate was just $0.10. The massive gains in the ADA course were partly due to the introduction of smart contract functions and the general bull market in 2021.

After September, the price of Cardano (ADA) fell again. Although the cryptocurrency bull market lasted until November 2021, we already saw stronger losses of the ADA token. These losses then continued over the turn of the year. This is where the bear market started, so we could no longer see a trend reversal in the Cardano price.


Why did Cardano fall so early?

It is surprising to see that Cardano's price fell already in September, while most cryptocurrencies only followed Bitcoin's price fall from November. On the one hand, this was due to the massive price increase in September, which was followed by a sudden correction. After that, we saw hype around “fast” blockchains like Solana and Avalanche, which were serious competitors for Cardano.


Cardano was long considered the natural successor to Ethereum. But with these new blockchains, Cardano received strong competition as the “Ethereum killer”. This caused the ADA token to lose more heavily even before the general bear market.


Bear market 2022

In 2022, we saw more losses from Cardano. Here the cryptocurrency could not fight against the bear market. However, the data on the growth of the network looked excellent. At the turn of the year we repeatedly saw record values ​​for new Cardano addresses. But the bear market drove all major cryptocurrencies down in price.


What is the potential of Cardano's course?

Cardano (ADA) price already reached $3 in the last bull market. The value of the ADA token thus increased by a factor of 30 from mid-2020 to autumn 2021. This made Cardano an extremely lucrative investment for early investors. 


The potential of Cardano is often discussed controversially. The reputation as an Ethereum killer raises many hopes that the cryptocurrency can massively increase in value again in the next few years. We, too, have written articles about whether Cardano’s ADA token can reach $100 or even $1,000 in the future. 


The potential of Cardano depends heavily on how dominant Cardano can be in the area of ​​decentralized applications and whether Cardano can even replace Ethereum as the most successful blockchain in this area. If Cardano becomes the most successful blockchain in the areas of DeFi and NFTs , we could actually reach the previously mentioned numbers for Cardano’s price in 5-10 years.

Cardano (ADA) price fell so much in the last few months that it was only 20% of its all-time high in mid-June 2022. With this low price and possible further price drops, potential investors are now wondering when Cardano’s price could rise again in the future.


For Cardano, we can expect numerous technical advances in the coming months. Most importantly, Cardano’s 4th phase of development, Basho , should pick up speed. In Basho, the Cardano Foundation is working on massively increasing the scalability of the Cardano network. It is planned that Cardano can then achieve a transaction speed of up to 1,000 transactions per second.

After these developments, Cardano would be the fastest blockchain on the market. This could trigger a massive boot for the cryptocurrency price. However, this process will take several months. A massive increase in the ADA token can also be prevented by a continuous bear market. In the next bull market, however, we should see record values ​​for the ADA price again. 


Is investing in Cardano a golden opportunity?

Investing in a bear market could prove to be a golden opportunity for many investors. But very few investors have the courage to seize this opportunity. This is mainly due to the fact that we will very likely only see an increase in prices in the medium to long term.


The next big bull market is very likely to come after the Bitcoin Halving in 2024. After that, the history of cryptocurrencies lets us see that almost all major cryptocurrencies gain massively in value. This should also be the case for Cardano.


The surges could be amplified if Cardano has seen massive growth by then and is a serious competitor to Ethereum in the DeFi and NFTs space. The number of smart contracts involving Cardano is already increasing.

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