What is Cardano (ADA)?
Cardano (ADA) is a cryptocurrency in the top 10 most valuable cryptocurrencies by market capitalization. It is a blockchain protocol that aims to create a combination of decentralization, scalability and security. This difficulty in connecting the mentioned areas is known as the blockchain trilemma.
Cardano Course
The network token is referred to as ADA. It is used for charging and communication in the network. In recent years, there has been regular further development of the Cardano blockchain, which is based on scientific methods. This further development is divided into 5 different phases.
Due to its scientific and sustainable way of working and its extremely high potential, Cardano has been repeatedly referred to as the “Ethereum killer” in the past. In the past, we have repeatedly seen strong price gains for the ADA token.
How did the ADA token move in the recent past?
The year 2022 was marked by the bear market. The all-time high of Cardano (ADA) was over $3 in September 2021. At the turn of the year, this value had already fallen to $1.37. In recent months, the ADA token has seen further losses, falling below $0.42 in June.
In the second half of the year, the ADA price then stabilized. The course mostly moved between 0.42 and 0.50 dollars. In recent weeks, however, there have suddenly been continuous losses again. The course lost up to 25% and fell to a low of 0.33 dollars. The course has been able to recover for a few days, which could make the Cardano forecast for the end of the year a little more positive again.
Why Did Cardano (ADA) Suffer Heavy Losses?
A month ago, the Cardano forecast for the coming weeks was still very neutral. There was no sign that the ADA price could fall further. Rather, we saw positive developments in the Cardano network. After the Vasil update, smart contracts can now be executed faster, which increases the attractiveness of the network.
Cardano Update
Nevertheless, the losses in the ADA token were large. The overall market also gave little information as to why Cardano suffered these large losses. The Bitcoin price is still in its typical range of $19,000 to $20,000 for the last few weeks. However, the price is on the lower end and the mood turns slightly more bearish in the fourth quarter.
Other cryptocurrencies have also suffered very slight losses in recent weeks. Cardano is the exception here, with sometimes minus 20 percent. There is no clear trigger for the losses. Investors are rather bearish on Cardano tokens at the moment.
What is the Cardano forecast in bear markets?
Cardano (ADA) is considered a cryptocurrency that performs rather poorly in the bear market. ADA also saw heavy losses in the last bear market in 2018. The differences between the courses in the bear market and the courses in the bull market are always particularly large with Cardano. Therefore, the Cardano forecast for the beginning of the bear market is always strongly negative.
In the last few months, the Cardano (ADA) price has fallen by 90%. These losses are higher than Bitcoin or Ethereum. For altcoins, heavier drops at the start of the bear market are mostly normal. Another factor in the medium term could be the strong criticism of Cardano in recent months. Some bugs in Cardano's test network have raised some critical voices. Cardano had to clarify a lot here.
What is the Cardano forecast for 2023?
In the next few weeks until the end of the year, we could see stabilization or slight losses. In this article we take a closer look at how the ADA course could develop in the next few weeks.
For the year 2023 we expect a significantly different development for the Cardano price. Because next year could already be the year in which the Bitcoin price and the entire market could rise sharply again. At least that was the case in the last bear market. There, in the second year, 2019, the Bitcoin price tripled. The other cryptocurrencies followed accordingly.
Cardano Prognose 2025
The year 2023 could therefore also be a good year for the Cardano course. Because in a new bullish environment, Cardano in particular could see a strong price increase. In this case, the strong growth of the Cardano network and good further development in scalability could help each other a lot.
How high can the Cardano price go in 2023?
In 2023 we should see increases in Cardano price again. We are relatively certain that at some point this year we will see positive price developments again and that the Cardano forecast should be positive. But how high can the Cardano (ADA) price rise next year?
In fact, we saw ADA price performance in 2019 that should be very similar to future price action. The prices were only 10 times lower. The ADA price reached a low of $0.029 at the end of 2018. The price then rose again slightly in 2019. In the summer of 2019, there were actually strong increases to almost $0.10.
The increase in the ADA course in 2019 was by a factor of 3 to 3.5. We could see a similar or even higher surge for Cardano again in 2023 if price action repeats itself. Accordingly, it is quite possible that the ADA will rise again to a price above $1 , possibly even $1.50.
When will the Cardano surge occur?
Finally, we still have to deal with the question of when Cardano could rise again. We could look back at the last bear market. Back then, the stronger increase started in the second quarter of 2019. The current cycle seems to be 2-3 months ahead of the last cycle. The bear market started in November 2021 while the last bear market only started in January 2018. Therefore, the start of the increase could come as early as the first quarter of 2023.
In addition, we are already seeing stronger signs of a price drop at the end of 2022. We have recently spoken more frequently about seeing another stronger drop before the market becomes strongly bullish again. We also saw this sharp drop in prices before the bullish trend reversal in 2018/2019.
Is it worth investing in the ADA token now?
In the next few weeks, an investment in Cardano’s ADA token could be worthwhile. Due to the reasons mentioned, we see the Cardano forecast for 2023 as rather positive. Therefore, the currently very low prices of Cardano (ADA) offer a good opportunity to invest cheaply in the ADA token.
My Top PicksHoneygain - Passive earner that pays in BTC or PayPalMandalaExchange -The Best no KYC crypto Exchange!
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAIWomplay - Mobile dApp gaming platform that rewards in EOS and BitcoinCointiply - The #1 Crypto Earning SiteLiteCoinPay -The #1 FaucetPay earner for LitecoinLBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!FaucetPay - The #1 Microwallet PlatformFREEBTC - The #1 FaucetPay earner for Satoshi'sFaucetCrypto - An earning/faucet site that pays out instantlyFireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily
Comments
Post a Comment