Introduction to Cardano: The First Peer-Reviewed Crypto Altcoin
Cardano is the world’s first ever academic, peer-reviewed decentralized blockchain solution and ADA is the native cryptocurrency that powers that protocol.
Cardano and ADA were created by ex-Ethereum co-founder Charles Hoskinson. Charles Hoskinson is yet another pioneer in the cryptocurrency space working to push overall adoption forward and has played an important role in the early phases of the industry.
Although he is heavily focused on Cardano, he is also the director of The Bitcoin Education project that supports the first ever cryptocurrency. Hoskinson studied math and cryptography at the University of Colorado and applied those learnings to the projects he has worked on.
Cardano is considered to be a third-generation blockchain, different from Bitcoin or that of Ethereum’s and many others.
Cardano uses a programming language that is native to military infrastructure and other high profile industries, making it extremely valuable and interesting to a variety of sectors. It may also be used to prevent counterfeiting in the future.
Cardano was late to the crypto market compared to many others, but the altcoin crypto asset is brimming with innovation, giving it incredible projected growth which fueled early hype and price growth. Cardano potential is still extremely high, if not higher than before.
This guide aims to provide a variety of ADA price predictions from top crypto market experts and more, and to answer the most important burning questions related to Cardano projected growth, such as “should I invest in Cardano,” “is Cardano a good investment,” or “how high will Cardano go?”
What is Cardano Coin (ADA)? A Third-Generation Blockchain
Cardano uses a powerful proof of stake consensus algorithm called Ouroboros to secure the blockchain. It is uniquely designed to head on address the scalability issues associated with Bitcoin, Ethereum, and other gen 1 and gen 2 blockchains.
Although it is vastly different, it more closely resembles Ethereum with its focus on smart contracts. However, it claims to offer many advanced features over other blockchains.
Cardano takes a scientific philosophy and research driven approach, and even had its product peer-reviewed by a number of universities before its release. The development team itself is packed with some of the most respected researchers, cryptographers, and engineers.
While ADA coin can be stored on a Ledger, Trezor, exchanges, or nearly any platform wallet, it’s native wallet is called Daedalus.
The project is supported by the Cardano Foundation, Input Output Hong Kong, Emurgo, and a wide variety of partners and universities.
Cardano focuses on functional programming, formal development methods, and prototyping to ensure the future of the project is sound. It is also one of the altcoins with the most clear and well-defined roadmap. The Cardano future is bright.
Cardano’s supply is capped at 45,000,000,000 ADA, with a circulating supply just under 32,000,000,000. The current total supply is 31,948,309,441 ADA with some reserved for important functions.
Cardano Price History And Long Term Price Potential
Cardano’s first price action was recorded in late 2017 and early 2018, so the relatively new altcoin is still well within price discovery mode and trying to find its fair market price and value. This was during the crypto hype bubble of late 2017, which caused the crypto industry to be put on the map and made into a household name.
Because the tech has such long term price potential and hype, the initial buzz, Cardano news, and speculation drove ADA prices from just $0.02 in October 2017, to as high as $1.33 at its all-time high set on January 4, 2018. Investors were left in shock, wondering why Cardano is going up.
After that, ADA fell to as low as $0.025 just recently on Black Thursday in March 2020. The devastating crash rocked all of crypto and all other markets, so ADA wasn’t spared either.
Before that, however, Cardano set a temp low in 2018 at $0.03 and reached the same Cardano value again in 2019 at the deepest low. The high for 2019, was just $0.10 making it a stagnant year for Cardano. During the bear market, investors were asking why is Cardano going down and when will this downtrend finally come to an abrupt end?
Cardano’s price history is slightly different on the ADABTC trading pair. It reached an all-time high at the same time in early January 2018, at 8770 satoshi – the smallest unit of Bitcoin measurement. Just recently, ADABTC reached a low of just 380 sats. The fall represents an over 90% fall from the all-time high peak recorded during the crypto hype bubble and altcoins season that happened at that time. Another altcoin season could cause yet another explosive rally and take ADABTC to a new all-time high.
In 2020, Cardano had another massive breakout with the rest of the cryptocurrency industry, and is now back in the top ten cryptocurrencies by market cap to start 2021.
What highs are yet to come for ADA coin is anyone’s guess, but this guide will provide many ADA price predictions both from crypto industry experts and through detailed technical analysis that can help predict future price movements.
Cardano’s price today is just $1.19 but with a new bull market now here, it certainly will not be the price tomorrow or the day after. Cardano will rise again, but by how much, and how high can Cardano go, and when will Cardano reach the market prices predicted by experts?
Cardano Price Predictions by Crypto Experts
Cardano is a disruptive, emerging new technology, making the amount of price predictions fewer and further between than many of the other altcoins and crypto assets out there.
Using these realistic Cardano price predictions from experts below, we can attempt to determine an estimated growth rate for each ADA coin.
DigitalCoinPrice expects downside for ADA, pointing to much lower prices of just $0.20 by 2026.
CoinSwitch has provided an extremely strong Cardano price forecast of $2 in the future.
In five years, CoinSwitch expects Cardano to reach over $3.
It is important to note that the support from many major corporations or brands as part of strong Cardano partnerships, also acts in a way as a prediction on ADA. While it doesn’t assign a price target for the asset, it does show that it has longevity and use cases that these companies are considering adoption.
For example, Cardano signed a deal with “big four” auditor PriceWaterhouseCoopers, also known as PwC. This is a major partnership and nod of support for Cardano’s long term growth potential
The technology is so powerful, it received a higher ranking than that of Bitcoin or Ethereum by asset ratings firm Weiss Ratings, based on technology alone. Cardano was among the highest rated out of all crypto assets, ranked next to Tezos as a top performer.
Hoskinson’s focus on programming and research to ensure the blockchain is viable for any application has paid off in spades by receiving such an esteemed rating.
Cardano Technical Analysis and Long Term Price Prediction
Technical analysis is the study of Japanese candlestick, chart patterns, and trading indicators and oscillators. These powerful tools can assist traders with gaining an edge in markets for day trading, but on longer time frames can help to find long term price predictions that are made based on pure technicals.
Performing technical analysis on Cardano is limited due to the amount of time it has spent trading, but the study applies regardless.
Based on the below technical analysis looking at Cardano price charts as far as five years out, analysts have provided the following prediction charts.
Cardano Price Prediction 2021
Cardano has had an explosive start to 2021 after a long bear market and has found itself at a new all-time high. However, a bearish wedge has formed, suggesting a retest of lows or potentially some consolidation before another push to new highs. The high for 2021 probably isn’t already in, however, and could go to $2 or more in 2021.
Cardano Price Prediction 2022 – 2023
Those that don’t sell during the consolidation and resulting pullback, could be blessed with another rise to nearly $70 per token based on the measure rule and the height of the rounding saucer pattern.
Cardano Price Prediction 2024 – 2025
After such an enormous rise, it is more than likely time for another bear market. No assets, not even Cardano or other cryptocurrencies can always only go up in a straight line. When the next bullish impulse completes, profit-taking and bearish sentiment will take over.
Conclusion: Is Cardano a Good Investment Or Not?
All of the above long term price predictions aim to provide investors and traders with a look at Cardano growth and projected value. After years of going down, ADA is ready to increase in price once again and show the true Cardano potential we all know the powerful asset is capable of.
Cardano is also extremely new, which means investors and traders can get in very early still, and become among the few that experience the greatest financial upside.
To review the price predictions thus far, the below table offers a snapshot broken down by year.
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