Cardano (ADA) Price Analysis: Cardano ADA Still Away from its All-time High Despite the Technical Updates Hype

Cardano ADA, easily one of the top blockchain-based projects in the market, had left the top list several weeks ago as the state in the market headed towards more bear trends and price cuts, that way also touching new lows. Still, the team behind ADA and Cardano are working on major system updates, announcing that some of the updates would be ready for launch already by December 18th as Charles Hoskinson, the first man of IOHK and the founder of ADA stated that the latest version 1.4 will be ready for release by the mentioned date.

Cardano (ADA) Price Today – ADA / USD

Name Price24H (%)
Bitcoin (BTC)
$8,183.74
2.67%
Ethereum (ETH)
$175.51
2.46%
Cardano (ADA)
$0.039227
0.61%

Cardano is catching on the latest trend in the market as seen on December 16th when the majority of cryptocurrencies is going up against the dollar in a massive spike. While Litecoin is one of the top trading cryptos on the list of top 20 cryptocurrencies in the last 24 hours, with nearly collecting 12% of gains, ADA is also managing to record positive daily returns, rising by over 4%. However, ADA still has to make up for weekly, monthly and YTD losses in order to record more significant gains in the following period.

Will the Latest Cardano v1.4 Affect the Price of ADA in the Market?

While price pumps can be found in many external factors, like new partnerships, listings, implementations, adoption, and integrations,significant updates and network improvements can also affect the price in a positive way. That is how the latest version of Cardano coming out in only several days as scheduled for December 18th can trigger rises for Cardano’s ADA in the market as well. The latest version is said to be only the beginning of what Cardano will present in the following months and in 2019, where Hoskinson appears to be confident about the future of Cardano project. At the same time, the team is working on achieving scalability through Sharding, which could eventually contribute to the rise of the value for ADA in the market, however, since Sharding implementation is not ready yet,holders will have to rely that version 1.4 will bring some improvements in the market as well as to the network. In the meanwhile, Cardano is down by over -97% against the fiat since reaching its all-time high back at the beginning of January 2018.

ADA Still Away from Its All-time High: Can Cardano (ADA) Revisit Its Record Price?

Cardano lost over -54% of its value only in the course of the last 30 days, which is the period when the severe bear trends hit the market with mid-November arriving. Moreover, ADA is down by -97% in the course of the last 11 months, which means that ADA is trading at the price of 0.029$ from its all-time high of over 1$ per one unit. Optimistic price predictions indicate that ADA could even reach the price of 0.90$ by the end of 2019, while less enthusiastic forecasts imply that ADA is less likely to go above the value of 0.2$ in the following year, while its minimum price for 2019 could even be 0.05$.
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.