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When can the Cardano course rise again? – An optimistic prediction

 


What is Cardano?

Cardano is a blockchain network that is characterized by an extremely good technical balance. The Cardano blockchain combines good scalability, decentralization and excellent security. The blockchain uses the efficient Proof-of-Stake consensus mechanism. Cardano's network token is the ADA.


Cardano

Cardano has continued to develop over the past few years. The team behind the blockchain uses a scientific approach to further develop the blockchain in the long term. Thanks to the evidence-based approach, Cardano can analyze the errors of other blockchains and optimize them in its own blockchain.


How has the Cardano price moved in the last few months?

In the last few months, the Cardano price has seen a sharp drop. But this was mainly due to the bear market that started in November and caused the majority of cryptocurrencies to fall. But the Cardano price has been falling since September 2021 as other coins like Solana and Avalanche received more hype as competitors.

In the months following November, the Cardano price experienced a massive drop. In September, the ADA token hit an all-time high of over $3. By the turn of the year, the Cardano rate had fallen to $1.37. The following year, 2022, we then saw further losses into June before the price stabilized.


Why did the Cardano price fall so much?

Between September and November 2021, the crypto market was still in a bull market. ADA just reached its all-time high as a result of the last major update Goguen. The final smart contract functions were introduced on the blockchain. But then the ADA price fell again. That was mainly because competitors like Solana and Avalanche were experiencing hype.


After November, the bull market in particular caused problems for the Cardano course. As an alt-coin, the ADA token lost even more in percentage terms than Bitcoin, for example. Like most other cryptocurrencies, Cardano lost more than 80% of the value of its all-time high during the months of the bear market.


When can the Cardano price explode again?

We saw the last major Cardano price explosion when two events converged:


In 2021 we saw the end of a bull market. As a result, cryptocurrency prices rose massively in the second half of 2021. This also applied to the ADA token.

The introduction of smart contract functions as part of the Goguen update triggered massive hype in autumn 2021.

The combination of these two factors pushed the ADA price above $3 at the time.


Cardano

A further price explosion would require a combination of a good market situation and important further developments on the blockchain. Cardano is currently working on increasing the scalability of the network. In the basho development phase, this should be massively increased. Cardano could soon become the fastest blockchain on the market with up to 100,000 transactions per second. 


Is an investment in the ADA token worthwhile?

The Cardano price could rise by the end of the year due to a good market situation and the first further developments in scalability. However, a massive price increase should primarily take place in the next bull market, which will very likely not start until 2024.


Nevertheless, you should start investing regularly in Cardano’s ADA token as soon as possible if you believe in the project. This is how you can take advantage of the currently low prices in the bear market.

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