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, its 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 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 now-former 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?
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. It also set a new all-time high at more than $3 per ADA coin. Since then, it has retraced back to around $2.17.
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 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 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.
Wallet Investor is among the most bullish on Cardano, with price targets of around $10 in the long term or at least five years out.
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 Economy Forecast Agency
The Economy Forecast Agency does that they do best, and gives a Cardano forecast for the long term. They expect within the next four years the high point in Cardano to be only $1.64, which suggests that the cryptocurrency has topped out for this cycle, contrary to what most other analysts are saying.
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 appreciated a lot in value but likely has another wave up left in it as most cryptocurrencies do. If the parabolic curve holds, targets of $10 will be met.
Cardano Price Prediction 2022 – 2023
After a bullish phase has ended, a bear market could begin again according to how markets cycle. Cyclical behavior also means that prices will eventually recover, but not before Cardano falls back below its 2017 peak to cause investors to capitulate.
Cardano Price Prediction 2024 – 2025
When the market does recover, Cardano could be on track to take out $10, and re-enter price discovery with no real resistance to speak of. How far each ADA climbs is anyone’s guess.
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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