Cardano is the favorite of many investors and a big fan base considers the blockchain as the genuine successor to Ethereum. Cardano’s prospect appears huge. But what is a sensible forecast for the Cardano course for the next few months or rather years? Can ADA price reach 5$ by the end of 2022? Let’s take a look at this in this ADA price prediction article.
What is Cardano (ADA)?
Cardano (ADA) is a blockchain network that places itself as one of Ethereum’s main competitors. Because Cardano is one of the most versatile and, more significantly, technically adept blockchain networks on the market, incorporating security, decentralization, and scalability. The ADA, the network coin for Cardano, may be utilized for fee payment and staking. Cardano is differentiated mainly by its adherence to the scientific progress of the blockchain. The Cardano Foundation employs scientists and research-based approaches to progress Cardano. It uses the current and efficient Proof-of-Stake consensus mechanism.
ADA Price Prediction: How has the Cardano price advanced in the last few months?
ADA/USD Weekly chart – GoCharting
The Cardano price has witnessed relatively serious losses in recent months. This was primarily due to the commencement of the bear market at the end of 2021. Cardano’s ADA price was more than 3 USD in September 2021. The prediction for Cardano looked particularly sound at the time. But in the following months, we witnessed a massive decline.
The ADA price dropped more sharply between September and November 2021. This was mainly due to the advancement of competitors like Avalanche and Solana. From November onwards things continued to drop due to the commencement of the bear market. By June 2022, the ADA rate had dropped sharply and went below $0.42. Since July, the price has been able to stabilize again. At the time of writing this, the ADA price is sitting at $0.454027.
ADA Price Prediction: Why does it have such a good prediction?
ADA/USD Daily chart – GoCharting
Cardano is a cryptocurrency that can have huge potential in the long term. The blockchain is being additionally developed as per scientific standards. This approach assures that Cardano is technically more substantial than almost all other blockchains on the market.
The additional expansion of Cardano takes place in various phases. You can take a closer look at these phases in the Cardano roadmap. Smart contracts were launched in the Goguen phase last year. Basho is now coming, in which the scalability of Cardano is to be massively increased. Many experts consider that this phase could have an extremely positive impact on Cardano’s prediction.
As mentioned earlier, in 2021, Cardano surged above $3. This was the all-time high and the peak of the last bull market. At the start of the bull market, the ADA rate was just over $0.10. So the price has grown by almost 30x in a bull market. So we can anticipate similar gains in the next bull market as well.
If we guess a price of $0.50 at the start of a bull market, the price could go as high as $15 in the next bull market. If the price drops again by 80% in the bear market, the ADA price would be at $3. An upsurge of 30x in turn would take the Cardano price to nearly $100. Yet, this should take 5-10 years (2 cycles). But a projection of $100 for Cardano in the next 10 years is quite realistic.
Should you invest in ADA now?
At the moment, the Cardano ADA price is still extremely low due to the bear market. The prospect for Cardano is huge, so an investment in the ADA should certainly be profitable given the exemplary Cardano projection.
In the next few years, an investment in Cardano should definitely pay off from today. If the cryptocurrency market jumps back higher, ADA should split this $0.45 price upwards. For now, the publicity around Ethereum’s merge seems to have cooled down, and we don’t anticipate any big jumps in prices higher. It is advisable to day trade ADA instead of buying and holding, as the short-term price movement makes it more useful to enter short-term trades between precise and limited support and resistance areas.