Cardano (ADA) is definitely considered as one of the top blockchain-based projects due to its unique protocol and the fact that Cardano is aiming to become a legit third generation cryptocurrency.
However, its status in the cryptoverse doesn’t make it immune to the dips, especially when it comes to mass price cuts.
Once again on November 19th, cryptocurrency market is seen declining against the fiat where even the top cryptos with flattering returns are seen dipping at an accelerated rate.
Cardano is seen in a major dip by losing -10% against the fiat in less than 24 hours, which poses a question whether ADA would be able to acquire gains that could take it to a more benevolent status in the market.
At which price could ADA enter the year of 2019?
Cardano Price Prediction: Will ADA Survive the Dips?
ADA is one of the top ten cryptos, respectfully, representing one of the most promising crypto projects in the blockchain space.
But, the fact that many holders believe in ADA is not preventing the latest market dip from affecting Cardano’s ADA big time as it is seen declining at an accelerated pace.
In the course of only a single day, ADA lost -10% of its value, added to an already negative weekly return that now showcases -25% of lost value in the course of the last seven days.
ADA is now alone in this SHTF scenario, as the majority of currencies are seen in a dip, while cryptos like Ethereum and Bitcoin are once again touching new lows.
Cardano (ADA) Price Today – ADA / USD
Still, Cardano is showing 99% of gains on its year to date chart, which means that not all is lost for this crypto.
Based on the latest performance of Cardano in the market, ADA is more likely to end this year at the price it is recording at the current moment, 0.055$, while there are some indications that the upcoming update of the system could push the value up towards 0.70$.
However, there are strong indications that ADA might experience another plummet against the fiat at the beginning of January when Cardano could decline to 0.40$.
Update 1.4 Can Push Cardano Up in the Market
One of the factors that could easily aid ADA in the attempt for rebounding is the upcoming update 1.4 for Cardano network.
The update is set for release either at the end of November or the beginning of December, potentially able to condition a rise in ADA.
The fact that Charles Hoskinson, the founder of Cardano and CEO of IOHK, stated that the upcoming update is definitely one of the most significant made for Cardano system, indicates that the release could consequently bring rises to ADA in the market.
As big changes and preparations are marking the roadmap of Cardano in the past several months, the release should be out any time soon as the team is working on final touches before the official release.
In case the significance of the update reflects at least partially on the price of ADA in the market, Cardano could see new heights despite the prolonged market dip.