Cardano price in 2020: is it worth investing in this altcoin?

25 days ago
Cardano
Cardano

Which upcoin will be the most profitable during the ace bitcoin bitcoin? A good application for this is submitted by the Cardano cryptocurrency, the price of which is only $ 0.045 today, but it may well rise to $ 10.

In this article, we’ll look at how the Charles Hoskinson and the Cardano Foundation can provide a parabolic growth of ADA coins by as much as 22,000%. We will tell you how things are with the Cardano project, how far behind competitors Ethereum, EOS and TRON are, what you can play to become a leader and give a forecast for the next 2-3 years on ADA cryptocurrency.

Cardano

Cardano cryptocurrency blockchain
Cardano cryptocurrency blockchain

Let's start with a review of the project, that is, what is the Cardano cryptocurrency. They position themselves as a revolutionary blockchain of the third generation and here we will make a small digression.

The blockchain technology itself appeared before Bitcoin, but it is the first successful implementation of the blockchain in practice in the form of a peer-to-peer network that allows transactions and stores the history of transfers. Then came the second generation blockchain, which we know as Ethereum and its main difference was smart contracts. And now Cardano claims to be the third generation blockchain and yes, we are aware that a number of projects have already called themselves the fourth and even fifth generation, but this is already a frank crack.

As for Cardano, they claim the third generation by dividing the network into two levels, when the first processes transactions, and the second is responsible for the work of smart contracts. We add here the original Proof-of-Stake algorithm and the promise to screw sharding to ensure high network bandwidth.

ADA

Cryptocurrency is traded under the ADA ticker and if you look at the history of changes in its price for the whole time, then it behaves as it should be for a good altcoin:

Cardano Cryptocurrency Rate History
Cardano Cryptocurrency Rate History

There is a peak value above $ 1 in January 2018, when there was the so-called altcoin season. And then cryptozyme came and the whole market flew to the bottom. By the way, on the same chart, Cardano is repeating the movement of the price of bitcoin, that is, rising and falling along with the first cryptocurrency. And at the current time, it is 96% cheaper than its historical maximum:

Cardano's current price is 96% cheaper than the all-time high
Cardano's current price is 96% cheaper than the all-time high

Given the fact that Cardano has a strong development team, there is a separate organization for commercial promotion and a close-knit community, we can conclude that the coin has a great future.

This is not a financial recommendation, we remind you that everyone makes a decision whether to buy something, after collecting a maximum of information and performing their own analysis.

And to make this review as objective as possible, we want to draw your attention to the fact that Cardano, as a network, is also not nearly ready. Yes, there is a wallet for transactions, there is a test network with staking and in the near future there will be a harfork for updating the POS mining algorithm. But we draw your attention to the fact that the Shelley update, according to the project’s roadmap, was supposed to take place sometime in 2018. We have so far only waited for it in the test network, and there are three more after it, and how it’s all going to be implemented before the end of 2020, it’s completely unclear to us personally.

Cardano is still at the development stage, and EOS and TRON are already launching decentralized applications with might and main - this is bad. But neither they nor Ethereum have a so-called product for mass use. That is, these and other projects have been much longer on the smart contract market, but no one has made a breakthrough yet, and it is quite possible that it will not be in the next few years. The capitalization of these coins, which we see now, is explained not by demand, but by the faith of investors, and Cardano has this faith as much, and possibly even more.

And now it’s an interesting thing. EOS and TRON were already launched in a bear market and could not get the most out of this event, because the outflow of capital had already begun. And Cardano, in the light of its incomplete readiness, may well carry out a serious upgrade, call it the date of the official launch of the main network and show very sharp growth at this event. Especially if they choose the right moment and can saddle the last phase of the market cycle, when the market flies strictly up in anticipation of the ace.

Cardano price increase by 22,000%

Benjamin Coven, who is known for his math-based forecasts, made a forecast for the next Cardano price peak.

In his video, he says that predicting the movement of the rate of such young cryptocurrencies as ADA is quite difficult, because there is little initial data. Therefore, he can only rely on the regression line and take into account the previous growth cycle. But even these figures are enough to build a chart according to which in 2020 Cardano has every chance of rising in price by about 10 times to $ 0.4 or even $ 0.5. Then there will be a relatively calm year 2021, but in 2022 we can see a parabolic growth, the maximum of which is around $ 10.

How realistic is the forecast that Cardano will grow from $ 0.5 to $ 10? As we have already said, Cardano's competitors did not succeed in capturing the market, which means that the project still has its own niche. In addition, a strong team of developers and the support of their personal community speaks in favor of Cardano, so it is very unlikely that they will lose their distance before the next bitcoin tuzemun arrives.

And he, according to the forecasts of Benjamin Coven, as well as the observations of many other analysts, experts and just good guys, is just about to happen in the period from 2021 to 2023. And then with the price of altcoins that remain in the cryptocurrency market, truly amazing things will happen due to the massive arrival of new money.