Cardano has been making headlines recently. Many recent updates in their roadmap helped push this coin to reach at one time the third-largest cryptocurrency by market capitalization. Other than strong fundamentals, Cardano (ADA) has an interesting technical formation that is signaling an upcoming price correction, but high anticipation in the community signals a price of 3$. The question is not IF but rather WHEN will Cardano ADA reach 3$?
Is Cardano (ADA) a good investment?
Holders of Cardano have seen tremendous returns since the beginning of 2021. In fact, the token increased from a price of around USD 0.15 to reach a current price of USD 1.70. This +800% performance beats many traditional finance investment schemes, even its peer cryptocurrencies. In this sense, Cardano was an amazing investment.
In order to assess whether Cardano is a good investment today, we need to understand its current price, the upcoming project timeline and what’s happening in their community. This brings us to the next sections: Price Prediction.
Cardano Price Prediction – Short Term Target 2$?
In the past 24 hours alone, ADA managed to shoot 6% while its peers like XRP and XLM were down by almost 4%. Looking at the medium term, ADA is still going on an uptrend. In figure 2, we can clearly see how prices were steadily increasing. On the other hand, ADA prices today are a bit inflated and are bound for a small correction in the short-term, especially before reaching the 2$ price mark. This price target is expected to reach around July 2021.
When will Cardano reach 3$?
Many people are expecting ADA to reach a price of USD 3. This in fact would lead to a market capitalization of around USD 96 Billion. If we look at the current projects that reached this valuation or even surpassed it, that would be Dogecoin, Binance Coin, Ethereum, and Bitcoin. If we disregard the last two, Dogecoin can’t be compared to Cardano, as the two have totally different projects. Maybe Binance Coin would be “closer”. Taking into account the current crypto market dynamics, for Cardano to almost double in price is a bit far-fetched in the short-term, even in the medium term.
This might happen if a breakthrough happened in the crypto sphere, further market adoption started to integrate, and Big Tech picks up Cardano. In that case, we would still expect Cardano to cross the USD 96 Billion valuation by the end of the year. But for now, prices won’t jump as high as they did YTD. But hey, if it did we’ll publish an article to show how wrong we were 🙂
The whole Crypto Market
In the past week, most cryptos were up and recovered from a previous price adjustment. We await to see if the crypto market would stabilize in the coming week to hedge a price adjustment or continue on its uptrend.
1- Bitcoin (BTC) : + 2.2 %
2- Ether (ETH) : + 34.6 %
3- Binance Coin (BNB): + 9.9 %
4- Dogecoin (DOGE) : + 31.1 %
5- Tether (USDT) : 0 %
6- Cardano (ADA) : + 30.4 %
7- Ripple (XRP) : – 2.8 %
8- Polkadot (DOT) : + 6.9 %
9- Bitcoin Cash (BCH) : + 38.4 %
10- Litecoin (LTC): + 34 %
Stay Ahead, Stay Updated
Rudy Fares
Recommended posts
-
Shiba Inu Price Prediction: How High can SHIB Price reach by 2030? -
Bitcoin Price Prediction – Will Bitcoin reach 60K again? -
Cardano is ON FIRE! Up 43% and surpassing $2…Climbing HIGHER?
-
PEPE Coin Price to Reach $5 in the Next Seven Days? - Cardano is STILL on an Uptrend, here’s why!
- Cardano Price Prediction – After the Crash comes 2$?
- Cardano price reaching $3 might be INEVITABLE…Here’s why
- Cardano Price Prediction – ADA preparing for a 36% MOON?
- Cardano price might DOUBLE to $2! LAST Chance to Buy ADA at $1?
- Cardano (ADA) BEATS Ripple (XRP) – Which is the better Alt?
-
Is Binance Coin (BNB) a HOT BUY? Here’s What you Should Consider
-
Crypto Consolidation: Buy THESE Cryptos before they BOOM in 2023? -
Ethereum Price Prediction – Ether nears 2K, Should you BUY? -
Cardano Price on the Brink of Collapse: Will ADA Crash to $0.20?
-
Cardano Price Exploding Again: Is the Altcoin Market About to Explode? Find Out Now! -
Bitcoin Price loses 15% in 24 hours – Opportunity to BUY IN? Read on to see why WAITING is better - Cardano Price Prediction – Buy ADA before it EXPLODES in 2022?
You might also like
More from Altcoin
Bitcoin vs NASDAQ: Are Bitcoin and NASDAQ Playing the Same Game?
What's interesting is the startling similarity between the market patterns of Bitcoin (BTC) and the NASDAQ. Let's delve into this …
How to Buy Ethereum Phone? Is it a Good Option over Solana Phones?
Ethereum phone: designed to seamlessly integrate with EVM chains and layer 2s. It created a significant buzz by selling out …
DYDX Price Explodes! What’s Behind This dYdX Price Surge?
DYDX price, has been on an upward trajectory, with a notable 11.76% gain in just a week and a 4.02% …
