The price of Cardano (ADA) has been surging in recent days. Just a couple weeks ago it was trading at US $0.33 but since then the price has surged to over US $0.52 per ADA. This is indicative of a bubble as the value has not changed much in that time span and there are no new developments or announcements in regards to Cardano (ADA).
Given this recent increase, we think it’s likely that Cardano will crash soon due to its increasing volatility and slight hype due to the current crypto market boom. Lack of real world adoption makes it vulnerable to crashes as its value is not based on actual usage and the number of people using Cardano has only increased minimally. We predict that when the crypto market crash occurs, Cardano will be one of the biggest losers.
With the price of Cardano at US $0.52 and a predicted Litecoin crash when the market crashes, we think that ADA should fall to around US $0.35 by year end. If it stays above this level, it’s unlikely that the price will drop as low as we predict and it will have room to rise to over US $0.75 by 2019.
We think that the price of Cardano will remain high for the next two years, however we think that it’s likely that the price will crash in 2022. We are predicting a crash from US $0.55 at Binance to around US $0.20 at Bittrex in 2022 as Cardano is not worth this much and there are many competitors in this space due to which Cardano does not have any advantages.
This crash will be exacerbated by the fact that most investors in Cardano bought it at higher prices, so they will sell off Cardano when the price crashes. There is also a chance that investors of other currencies will sell off their currencies to buy ADA, however there are few reasons why this would happen.
It’s likely that this crash will only be temporary and in 2024 Cardano (ADA) will be trading at over US $0.50 per token again. However, this is a risky investment as it could easily fall to almost nothing in 2022 (There’s a huge speculative risk involved).
Cardano(ADA) is a unique cryptocurrency in that its entire blockchain is stored on a single Daedalus User Interface. The wallet has existed for almost two years now, yet it’s the most popular wallet among new cryptocurrency investors. The creator of Cardano (ADA), Charles Hoskinson, was unhappy that a small team was developing a cryptocurrency with no real world use cases and no token holders. Therefore he changed the direction of Cardano to focus on building an ecosystem where there would be a lot of users and very good applications.
We think that the entire reason for Cardano’s existence is to have a cryptocurrency that can scale as big as Ethereum. Ethereum has a lot of real world usage and Cardano should be able to compete with it for the top spot in the market cap rankings in a few years. If this happens, ADA has real value and utility, which will lead to its price rising even further.
Cardano is a cryptocurrency that has served to solve some of the biggest problems plaguing blockchain technology today. As such, it offers some great advancements in this space and we think that it has good long-term growth potential. However, Cardano lacks real-world adoption and we think that it will crash in the short term before its value increases again.
Overall, we think that Cardano has good growth potential for the next two years but after that, there will be a crash as the value is nothing close to what it’s valued at today.
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