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 26,000,000,000. The current total supply is 31,112,483,745 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.
At one point in time, Cardano was in the top ten cryptocurrencies by market cap, giving it tons of visibility for crypto investors. However, as the crypto market ebbs and flows, it was unseated by Tezos, Tether, and many others. But that doesn’t mean that ADA doesn’t have long-term value, it just means that there are other, newer hyped coins that are currently stealing the limelight. Cardano remains in the top 20 cryptocurrencies by market cap, making it ranked very high up the list despite it dropping a few ranks.
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 $0.05 but after two years of bear market, 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.
The first Cardano forecast comes from LongForecast, a website dedicated to providing price predictions on a variety of assets.
These experts point to ADA reaching a very modest price of $0.05 in 2020, but then reaching a price of $0.09 later on in the years following.
The next Cardano price target comes from TradingBeasts. TradingBeasts puts the price near $0.06 in 2020, then $0.08 in the years beyond. TradingBeasts closely matches the previous price predictions from peers.
CryptoGround also provides similar estimates and growth projections, reaching $0.06 in 2020 and $0.08 before the end of 2024.
DigitalCoinPrice expects upside for ADA, pointing to higher prices of just $0.20 by 2026.
CoinFan, another crypto review site, estimates ADA reaching $0.19 in 2020, but hitting $0.45 in 2025
CoinSwitch has provided an extremely strong Cardano price forecast of $1 each per ADA token in 2020, then reaching $2 and doubling in value 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 2020
Although the Cardano trend has been down for the last two years, ADA looks primed for a breakout of a multi-year structure that should cause a powerful rise.
The chart pattern appears to be a massive descending wedge, a bullish reversal pattern, and a giant W-bottom.
A breakout of downtrend resistance would put ADA at a price of as high as $0.35 per token, after reaching a low in 2020 at $0.017 each Cardano coin.
Cardano Price Prediction 2021 – 2022
The final target of the breakout and a new higher high would take Cardano to as high as $2.18, then falling back to a low of $0.10 before 2023 arrived.
As pictured, the next bear market would fall to the middle area of the W-bottom resistance turned support. Hitting that price, however, acts as a powerful launchpad for the next prediction chart.
Markets are cyclical and ADA will once again fall to an extreme low after the next major peak is reached.
Cardano Price Prediction 2023 – 2025
Because Cardano is a new asset and lacking much price history and is still in price discovery mode, technical analysis is primarily done through speculation and projections, such as below.
Following the projected bull channel, which touches each peak and trough across all Cardano price action ever, it provides a path to a new all-time high in the future of over $12 per ADA token.
At that point, ADA would be an integral part of the ecosystem and will have disrupted a number of industries. It will have achieved its entire roadmap and seen widespread public adoption.
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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