Cardano is a public blockchain driven by scientific approach philosophy and founded by Charles Hoskinson, Ethereum co-founder and CEO of IOHK, a team of engineers building Cardano until 2020 year on a paid basis. The network runs on a Proof-of-Stake consensus algorithm called Ouroboros. Cardano team has the ambitious plan to create interoperable, secure & scalable multi-asset ledger with a platform for verifiable smart-contracts.
The first step Cardano was the establishment of the blockchain’s settlement layer – the ADA cryptocurrency as a native digital currency of the network. Once development on this layer is complete, the team will move on to the more complex ‘computing layer’ that will introduce smart contract functionality.
Find more about Cardano’s technology an structure in our “What is Cardano?” project review. Here, we will observe and analyze different ADA coin price predictions and bring our own forecast in the end.
Cardano (ADA) 2018 Price Analysis
After the whole market dropped since the 2017 bullish heights, Cardano price showed a strong stability that is not often seen in the industry. The measured, peer-reviewed pace of the coin does not lend itself to sudden bombshell news that would rock the established price. Instead, ADA should be considered as long-term, safer investment vehicle.
At the height of the cryptocurrency boom, Cardano price value raised to $1.33 per coin and it was very close to touch this level in 2019 year.
Current ADA’s market capitalization is $1,145,889,096 USD which is more than twice lower from YTD value. But that’s not something special as the closest competitors also lost lots of market cap. For example, Ethereum’s market cap decreased from $28,890,000,000 to $19,013,000,000 YTD, and EOS has lost from $2,000,000,000 since then.
Early & Mid 2019 ADA Price Analysis
After a prolonged 2018 bear market, the cryptocurrency industry was ready for slow, measured growth over the course of 2019. Always a healthy indicator for the entire market, Bitcoin has stabilized at a $3,600 support level in February. And alternate cryptocurrencies were showing renewed movement as investor confidence grew. Our expectations were proven by the Cardano (ADA) price growth in Q1 2019.
At the end of January, when ADA was worth $0.038 USD, we claimed that the price of the asset depends on the Bitcoin price, but due to its internal potential it is capable of independent growth in the future.
Cardano’s ADA was the only in March 2019, when Bitcoin and all altcoins fell in value, but was the only coin to demonstrate growth with a general bearish mood. In early March 2019, the ADA began to rise in value from $ 0.043 to a peak of $0.098 by the beginning of April.
Cardano’s Strong Points
The positive look of Cardano price forecast is largely caused by several technical factors. One of them the coin’s block generation algorithm. Mining is an accepted function of many blockchains – it provides incentive for users to validate transactions.
However, the alternative Proof-of-Stake algorithm is gaining steam as a way to reduce the absurd electrical consumption of cryptocurrency mining. Cardano’s Ouroboros protocol was one of the first Proof-of-Stake systems, and thus far the only one that is provably secure.
Furthering their desire for absolute user security, they began development of the Daedalus Wallet. In addition to the normal privacy considerations of a cryptocurrency wallet, Daedalus also privates specific spending passwords and transaction monitoring.
The wallet is also not exclusive to their ADA currency – currently it includes both Ethereum Classic and Bitcoin. Both features positively affect ADA’s price, helping the crypto to keep its stable position on the market. However, technicalities are not the only reason behind the positive Cardano price prediction for 2019. Financial behaviour of the coin is also a big factor and ADA’s price analysis shows that the coin is not like most of others.
Cardano ADA Price Predictions 2019-2020 & 2025
Future looks bright for Cardano and ADA, its native coin, from the point of view given by different price predictions.
#1. LongForecast ADA Prediction
An automated forecasting site based on a technical analysis of the asset’s price history predicts an ADA value of $0.016 by the end of 2020. And they expect a trend reversal only at the beginning of 2023, when the ADA price reaches $0.049 and $0.067 in October 2023.
Well, it is possible, but in our opinion it is unlikely if the Cardano will achieve the goals set in the roadmap.
#2. WalletInvestor Prediction
This prediction service is also quite bearish about ADA perspectives and even worse than the previous one. They see a long-term downtrend of ADA from now till 2024 with no reverse movement at all. They’ve estimated a $0.00330 USD price for ADA in 2020.
#3. CoinSwitch Price Prediction for ADA
According to the forecast from CoinSwitch, the price of ADA should gradually increase from July 2019 and by the end of the year reach the level of $0.41 per coin. However, since the beginning of the year, the all-time-high price in 2019 has been fixed at $0.1.
Well, there is still time and everyone is looking forward to the Shelley release, which aims to reform Cardano’s Proof-of-Stake’s current economic incentive scheme, which in theory will increase the number of stake pools to ~1,000.
Also, CoinSwitch forecasts that the price of ADA can reach $1 USD mark in 2020, $2 in 2023, and $3 in 2025. An increase of ~6.500% over 5 years sounds bullishly nice, we are all for it!
#4. ChangeNow ADA Price Forecast
This prediction is somewhat conservative. They predict the cost of $0.41 per ADA to reach only by 2023. They do not even try to predict the value of the coin for 2025 given the difficult path to develop all the Cardano network functional layers and considering constantly growing competition in the blockchain industry.
#5. Mrvyasidea.com Prediction
The Mr. Vyas assumes that the price of an asset will rise to $5 dollars in 5 years if the development reaches all the goals for developing network layers, from Byron to Voltaire phases.
ADA Price Prediction For Late 2019, 2020 & Further
To summarize, automated price predicting services forecast a negative bearish trend for ADA. However, we believe this can be ignored, since the cryptocurrency market is so young and hungry for news that affect the price of a crypto asset. Fundamentally, there are a some facts about Cardano and ADA:
- About 95% of coin holders are residents of Japan
- The founder and team have deep knowledge and skills for developing decentralized networks
- From a technological point of view, they were a little late with ETH and EOS, but this is a good opportunity to take into account the difficulties these projects facing right now: scalability (ETH) and governance (EOS)
We are quite positive about ADA’s long-term price projections and short-term future is also looks bright. If we talk about specific figures, the $1 dollar mark can easily be reached by the end of 2019, and further serious growth can be expected no earlier than at the end of 2020 with the release of a platform for smart contracts in Q1, as well as network scalability & governance issues in late 2020.
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Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. While price analysis is a useful tool, it should not be considered predictive for the future performance of any investment vehicle.
Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment. Website personnel and the author of this article may have holdings in the above mentioned cryptocurrencies.