Cardano: Will it break its all-time high before New Year?

Cardano in a nutshell

Cardano (ADA), which started being developed in 2015 and launched in 2017 is a third generation cryptocurrency which aims to solve the scalability issue, the bandwidth issue, and the storage space issue. It is ranked as the world’s top ninth cryptocurrency and has a market cap of a little over 1.8 billion US dollars as of the time of writing this article.

Although the price of Cardona (ADA) has crossed the $1.15 mark when the cryptocurrency market was bullish, as of the time of writing this article the world’s top cryptocurrency sells for a little over 0.07 cents. Cardano was developed by using a unique method where the whitepaper was reviewed by crypto-experts from all around the globe and then if approved was developed by Cardano’s team.

Bitcoin was the first generation of cryptocurrency, Etherum was the second generation, and now Cardano is the third generation which aims to become a global cryptocurrency which can be used by anyone with ease and convenience. If Cardano achieves its goals, then we can expect its price to skyrocket. Clearly, because the cryptocurrency will solve the issues (scalability) that Bitcoin faced.

Cardano (ADA) Price Today – ADA / USD

Name Price24H (%)
Bitcoin (BTC)
$55,228.00
-3.24%
Ethereum (ETH)
$3,475.42
1.15%
Cardano (ADA)
$2.12
1.38%

Will Cardano surpass its all-time high?

As I mentioned earlier in this article, the all-time high of Cardano or ADA is a little over a dollar and fifteen cents. If you had invested your precious funds in ADA when it was at its peak and still are holding onto the currency in hopes of making a profit. Then now might be the chance for you to get your investment back with a little profit.

Talking about profit, if you had invested money in Cardano on the 2nd or 3rd of October 2018 and sold it on the 10th of October, then you would have made roughly 5% profit on your investments. In a week, Cardano’s price rose by 4.98% to be precise. Although this doesn’t mean that ADA will cross the $1 mark but we can expect the price to go as high as 0.09 cents by the next month.

Moreover, the reason we can expect the price to cross the all-time high is that of a new deal Cardano is planning. Metaps Plus which is not only a 10-year-old company but is also one of the biggest mobile firms in South Korea. If the partnership happens successfully, then Cardano (ADA) will be used by more people in South Korea.

Metaps Plus has an excellent reputation which means it will give a price boost to ADA. The cryptocurrency with a $1.8 billion market cap is planning on further increasing its scalability in order to handle the consensus nodes too. This will avoid data duplication in the network and in turn make the process much more efficient.

Although currently, ADA is facing a downfall many experts including Pedro Bernardo, and Adam Web are super positive about ADA’s future. They seem to think that the price of ADA could cross $2-3 in a few months. Regardless of the price, Cardano has a lot of potentials, experts of the crypto world call it the Etherum of Japan.

If you invested when the market was bullish, then you are better off holding the funds and being patient for the next few months instead of selling them right now and making a loss. It is important to bear in mind that this isn’t a financial advise and you should only invest money you can afford to lose. The cryptocurrency market is super volatile and has surprised investors countless times in the past.

 

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.