Cardano (ADA) Price Analysis Today: Will its value skyrocket?

Cardano is a fairly new cryptocurrency and is ranked among the top ten cryptocurrencies in the market by CoinMarketCap. The coin features numerous listings, great technology, an experienced team, new partnerships, and excellent leadership among many others. Its growth has also been steady throughout the year.

However, its price in the market is still it substantially low. As of this writing, it trades at $0.083526, which is an increase of 3.07%. Despite the increase, the prices are much lower than its all-time high of $1.05 that was experienced early this year. The coin has been in existence for over a year now, throughout its life cycle its prices have been known to be growing at a much slower rate than other cryptocurrencies.

Will the price increase?

With 2018 coming to an end, Cardano investors are wondering if the digital currency’s price trend will change by its prices skyrocketing or will this unimpressive trend be consistent and risk falling from its ranking as a top cryptocurrency in the world.

Nonetheless, 2018 has been a sluggish year not only for Cardano (ADA) but also for the completely crypto market in general and most of the digital coins have been affected. For instance, Bitcoin, the leading cryptocurrency in the market, has lost a major part of its value.

In spite of this, most investors are optimistic that Cardano’s price will spike up, similar to the one experienced a year ago.

Cardano has however made major strides in its development despite the price slow down and some of the investors anticipate that some of these developments will lead to increased prices due to the growth they will bring to Cardano.

Kraken exchange listing

One such development is Cardano (ADA) being listed on the Kraken exchange. The additional listing will increase the popularity of the digital coin as well as increase its reach and influence in the market while growing its community. In addition to the listing, Cardano received support from the Infinito wallet, which is a mobile-friendly cryptocurrency wallet.

Many analysts and cryptocurrency experts have openly expressed their optimism about Cardano (ADA). They are attributing this to the fact that the coin’s value has grown by over 1500% in a span of over just a year. Apart from that, their optimism is further ignited considering that Cardano (ADA) was launched in September 2017 and since then it has maintained its position as a top ten cryptocurrency worldwide.

Some of the predictions claim that Cardano’s price will increase to approximately $2.5 in 2019 and in the next five years that the prices of ADA will have risen to $10.

Cardano is capable of improvement

Cardano has already displayed its capability and reliability and that it will still continue to be one of the dominating cryptocurrencies in the market, in spite of its slow price increase rate. With the predicted price increases, Cardano might also rise to greater ranks and it is for this reason that most investors are purchasing ADA when the prices are still low.

Cardano can be categorized as a long-term type of investment and is recommended for investors who are not seeking instant returns, as it may take several years for the investments to actually generate profits. A lot of patience is required in such an investment. However, from above predictions, an investment in Cardano is worth the wait.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.