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Cryptocurrency
The cryptocurrency market has been on a downward spiral all through 2022. This is a combination of crypto-related factors and external factors that have affected all markets.
Internally, the crypto was entering bubble territory as of November 2021, and it was only a matter of time before a correction followed. The collapse of Terra has not made matters easier either. That's especially when external factors like the war in Ukraine and rising inflation have dampened the mood across the markets.
Under these circumstances, Cardano has taken a hit and is currently down by 84% from its all-time highs of September 2021.
That said, Cardano has a lot to look forward to in the short to medium term. For instance, Cardano will release several protocol upgrades to make the Cardano blockchain more attractive to developers.
This guide will look at some of these upgrades while making a Cardano price prediction for 2022 to 2030.
Virtual currencies are highly volatile. Your capital is at risk.
Cardano Price Prediction at a glance
Cardano needs to push through the $0.50 level for a possible uptrend in the short term to be confirmed.
If the market remains sluggish but the selloff stops, Cardano could trade between $0.30 and $0.50 throughout 2022.
If Cardano implements upgrades outlined in its roadmap, it could retest $1 in 2023.
If the crypto follows its past bull and bear cycles, Cardano could test $7 or more in 2024.
Virtual currencies are highly volatile. Your capital is at risk.
A look at Cardano price over the years
Cardano entered the market in October 2017, at the peak of a cryptocurrency bull market. The prevailing conditions at the time were so favorable that Cardano hit a high of $1.13 by January 2018.
However, after the crypto market correction that started in January 2018, Cardano turned bearish throughout the year. By the end of 2018, Cardano was trading at $0.03.
With the market stabilizing in 2019, Cardano entered a consolidation phase between $0.03 and $0.04, which continued until April 2020. That's when the Bitcoin halving happened and pushed Cardano and all cryptocurrencies higher.
The 2020 crypto rally continued until 2021, and Cardano peaked out in September 2021 at a high of $2.87. That's an increase of 9,466% from its lows of $0.03 in late 2018.
Virtual currencies are highly volatile. Your capital is at risk.
Cardano analyst price predictions for 2022
Due to the prevailing market conditions, analysts' outlook for Cardano is pretty diverse. Some expect Cardano to make a rebound in the remaining part of the year. Others believe that Cardano is likely to remain sluggish all through the year.
Coin price forecast
Coin Price Forecast is one of the analysts that expect Cardano to do moderately well in 2022. Their analysis puts Cardano at $0.60 by the end of the year or an increase of 29% from its current price.
TradingBeasts
TradingBeasts cryptocurrency market analysts are moderately bullish on Cardano as well. Based on their analysis, Cardano could trade between $0.826 and a low of $0.562 by the end of the year.
Digital coin price
Digital Coin Price is another analyst site bullish on Cardano for the remainder of the year. They expect Cardano to trade between a high of $0.66 and a low of $0.61.
Gov Capital
Gov Capital is one of the analysts with a strongly bullish Cardano price prediction for 2022. Their analysts expect Cardano to trade at $1.79, or an increase of over 300% from Cardano's current price.
Wallet Investor
While most of the above analysts have a moderate to strongly bullish Cardano price prediction, Wallet Investor is one of the less optimistic ones. Based on their analysis of Cardano, Wallet Investor analysts expect Cardano to end the year at $0.0693.
Virtual currencies are highly volatile. Your capital is at risk.
Cardano price prediction long-term outlook
While analysts have a mixed outlook for Cardano in the short term, the consensus is that Cardano could do well in the long run. Most long-term Cardano price predictions expect it to trade at $1.5 to $3 by 2025.
The broader market and Cardano internal fundamentals are good indicators of where Cardano could go in the future. Among the key factors that could play a major role in Cardano's price action include upcoming upgrades to the network and growing adoption.
Factoring in all these issues, below is our in-depth Cardano price prediction for 2022 to 2030.
Cardano price prediction 2022
The crypto market is heavily bearish at the moment, and with a low appetite for high-risk assets amongst investors, Cardano price prediction could test prices below $0.10. However, there is also a bullish case for Cardano within 2022. Among the key factors that could drive Cardano's price upwards in 2022 are the scheduled updates to the Cardano network.
In March 2022, the IOHK tweeted that they had released the first in a series of upgrades aimed at making Cardano scale better. The tweet added that this was part of three major upgrades for the year that, once completed, would make Cardano one of the most scalable platform blockchains in the market.
Besides these three upgrades, the Cardano team is working on several other improvements to go live in 2022. Among them include: improving Plutus, and the hydra, a new Dapps store complete with APIs and other tools, and sidechains.
Given that cryptocurrency prices tend to respond well to positive network upgrade news, we expect Cardano to make a rebound at some point in the year. If the reception to this news is strong enough, Cardano could end the year anywhere between $0.80 and $1.
Cardano could also get a boost if the broader market turns bullish towards the end of the year. This could happen if the market makes a V-shaped recovery as investors take advantage of the low prices that the recent market correction has created.
Either way, there is a clear path for Cardano forecast to hit $1 in 2022.
Virtual currencies are highly volatile. Your capital is at risk.
Cardano price prediction 2023
If Cardano ends 2022 at $1, or more, it will indicate to investors that the worst of the bear market is over. This could see more people buy into the top 10 cryptocurrencies that are currently battered by the cryptocurrency bear run.
Cardano, a top 10 cryptocurrency with so much going on technically, could benefit immensely if the market gains upside momentum in 2023. Based on these factors, our Cardano price prediction for 2023 is between $1 and $1.5.
Cardano price prediction 2024
This could be the year when Cardano turns truly bullish. That's because it is the year for the next Bitcoin halving, and if you look at history, all cryptocurrencies tend to do well after a Bitcoin halving. After the Bitcoin halving in 2020, Cardano rallied by more than 9000%, after a more than 2-year bear run.
If the same scenario plays out after the Bitcoin halving in 2020, our Cardano price prediction for 2024 is $7. Such a massive price surge is not just supported by the Bitcoin halving but also the fact that Cardano is likely to keep growing in adoption going into the future. Its scalability and decentralization could play a huge role in drawing in Dapps developers.
Virtual currencies are highly volatile. Your capital is at risk.
Cardano price prediction 2025
Going by past bull markets, there is a good chance that a 2024 bull market could peak out in 2025. As such, altcoins that gain upside momentum in 2024 could experience a massive rally in 2025. In such a scenario, Cardano price prediction could easily peak out at $10 at some point in 2025.
Cardano price prediction 2026
After a sustained rally from 2024 to 2025, the cryptocurrency market could experience a correction in 2026. The same price action has played out in all other cryptocurrency bull runs since Bitcoin became a thing in 2009.
However, due to the higher adoption of the cryptocurrency market at this point, the volatility may be lower compared to earlier years. On this basis, our Cardano price prediction for 2026 is $8.
cardano price prediction 2027
If there is heavy correction across the market in 2026, then 2027 could see things stabilize. This means Cardano and other cryptocurrencies could enter a consolidation phase this year.
For this reason, our Cardano price prediction for 2027 is a range between $8 and $9. If Cardano upgrades its protocol or has other news related to its operational capabilities, then Cardano could see a spike in 2027 and probably test $9.5.
Cardano price prediction 2028
The next Bitcoin halving takes place in 2028 and, as with the others in the past, could kickstart another bull run. For this reason, we expect Cardano to break through its 2025 all-time highs of $10 in 2028. Our Cardano price prediction for 2028 is anything between $11 and $13.
Cardano price prediction 2029
If a cryptocurrency bull market starts in 2028, chances are that it will peak in 2029. On top of that, Cardano is likely to be heavily adopted. All manner of multi-billion-dollar Dapps are running on Cardano in 2029, which positively influences its potential for adoption. Based on these two factors, the odds are that Cardano could trade at a high of $15 in 2029.
Cardano price prediction 2030
By 2030, blockchain will be a mainstream technology. Cryptocurrencies like Cardano will be heavily adopted, and volatility will have dropped significantly. For this reason, the price will keep edging higher, but not at the same magnitude as happened years earlier. That's why our Cardano price prediction for 2030 is anywhere between $14 and $16.
Virtual currencies are highly volatile. Your capital is at risk.
Potential hits and misses for Cardano
The biggest news regarding Cardano is linked to its ongoing network upgrades. At the momentum is in a 3-part upgrade that will see it scale better. This is a big deal considering that scalability is one of the most significant issues that blockchain networks suffer today.
Cardano is poised to take a sizable share of the DeFi, NFT, and Metaverse markets. Such adoption could also play a role in the value growth of Cardano (ADA) since it is the native token of the Cardano blockchain. This factor could see Cardano test prices of over $20.
However, like all other high-potential assets, Cardano faces several challenges going into the future. One of the challenges with Cardano is that development is a little too slow. In a market where new cryptocurrency projects are coming up all the time, this could put Cardano at risk of being left behind. For context, several platform blockchains have come recently and are getting adopted pretty fast, relative to Cardano.
Will Cardano beat Ethereum?
Many projects have come up all positioning themselves as Ethereum killers, but most of them have faltered. That's because many of them have invested heavily in scalability and low fees at the expense of decentralization and security. The result has been network issues, including the risk of being taken over by enemy actors.
Cardano is one of the few Ethereum competitors that do not have such issues. That's because Cardano has an elaborate balance between scalability, fees, and decentralization. This is all thanks to the Cardano Ouroboros Proof-of-Stake algorithm. It is the first Proof-of-Stake algorithm that is scientifically proven to be secure, decentralized, at the same time, highly scalable.
As such, of the many Ethereum competitors in the market today, Cardano is one of those that could easily replace Ethereum as the number one Dapps platform going into the future.
That said, an investor should not be so much concerned with whether Cardano is an Ethereum killer or not. The chances are that the two will co-exist. Ethereum's first-mover advantage has locked in some benefits that may be hard to beat even by the most efficient competitors.
The concern for an investor should be profitability, and Cardano seems to be doing very well on this front. That's because Cardano has been one of the cryptocurrencies whose prices have responded well in the last two crypto bull cycles. As such, now that cryptocurrencies are over 80% off their recent highs, this could be a perfect time to start loading up on Cardano in anticipation of the next bull run.
This is not financial advice, though. It's just a simple analysis of how the markets have been moving in the past and how they could play out going into the future.
Virtual currencies are highly volatile. Your capital is at risk.
What Is the core essence Of Cardano?
Cardano is the brainchild of Charles Hoskinson, who was also one of the founding members of the Ethereum blockchain. The idea behind Cardano is simple, to give developers a scalable low-fee platform for launching Dapps while also keeping energy consumption low.
Cardano also aims to be a financial solution to the global unbanked, who run into the billions. Cardano has made strides on this front through partnerships in places like Rwanda, Ethiopia, and Mongolia.
What are some of Cardano's real-world use cases?
The Ethiopian Ministry for Education
One of the more notable Cardano use cases is in Ethiopia. The Ethiopian government uses the Cardano blockchain for records verification for its ministry of education. Through Cardano, the Ethiopian Ministry for Education can verify student grades while at the same time keeping an eye on how schools are performing in national exams.
Banking the unbanked in Tanzania
Tanzania has a significant portion of its population with no banking system access. Cardano, in conjunction with a company called World Mobile, is working to connect the unbanked populations of Tanzania. They are doing this by offering essential financial services on the blockchain. Anyone with a mobile phone can easily access these services on-demand.
Restoring the world tree cover
Deforestation is part of the problems fueling global climate change. Cardano has found a way to solve this problem using the blockchain. The Cardano Foundation has been working with several companies that use the blockchain to verify tree planting exercises.
By having clear and hard-coded data on how many trees are being planted, and where, policymakers can take the necessary steps to help restore forest cover. Essentially, the Cardano blockchain is an active participant in the global race to help make the planet livable for future generations of humans and all life forms on earth.
Global Decentralized Lending
Besides the unbanked billions, an equally large number of people in this world cannot access the credit they need to improve their lives. Through the Cardano blockchain, several solutions have come up for dealing with this problem. One of them is ADALend. This is a decentralized lending protocol that runs on the Cardano blockchain.
Through ADALend, anyone who can provide the requisite collateral can access a loan. There is no need for lengthy processes, as in banks or KYC that tend to lock out lenders from the banking system. It's a trustless system that gives borrowers loans at extremely low-interest rates.
Virtual currencies are highly volatile. Your capital is at risk.
What are the factors that drive Cardano’s price?
Multiple factors impact the price of Cardano at any given time. Understanding them can help in making reasonably accurate Cardano price predictions. Let's now explore some of the key factors that determine the price direction of Cardano.
Bitcoin Price Action
Bitcoin is the largest cryptocurrency by market capitalization and also a key determinant of how the rest of the market moves. Whenever Bitcoin turns bullish, the altcoins market always follows. The same happens when it enters a bear market.
For instance, after the Bitcoin halving in 2020, the price of Bitcoin started going up. A few weeks later, altcoins picked up momentum, too. By the last quarter of 2021, this Bitcoin-fueled rally had pushed Cardano close to $3, from lows of $0.03 in early 2020.
In essence, to predict the direction that Cardano's price could take in the future, all you need is to look at the price of Bitcoin. This can tell you when to buy Cardano, even when considering other Cardano-specific factors.
Cardano technical developments and adoption
Over and above Bitcoin, Cardano-specific factors especially touching on technical developments have a role to play, too. For instance, in September 2021, the introduction of smart contracts on Cardano triggered a rally that saw ADA outperform the broader market for a month.
Essentially, when investing in Cardano, it is important to know any network upgrades underway and be aware of how they could impact its price. Currently, ADA is heavily bearish, but with three critical upgrades underway, the price of ADA could improve quicker than most cryptocurrencies.
In terms of adoption, there is a correlation between cryptocurrency adoption and the price. For instance, despite the market ups and downs associated with cryptocurrencies, Cardano has overall been on an uptrend as adoption has grown. For instance, Cardano addresses have been consistently growing since 2018, and the price has reflected the same.
In 2022, the number of new Cardano addresses has grown by close to 200%. This is an indicator that developers and investors have faith in Cardano. The impact is that once the markets stabilize, Cardano could be among the cryptocurrencies that perform well going into the future.
The number of strategic partnerships
Cryptocurrencies are a disruptor of financial systems. As such, the bigger the impact that a cryptocurrency has in the finance world, the better its odds of success. At the moment, Cardano is one of the blockchains that seem to significantly impact the global financial system.
For instance, one of the Cardano Foundation's goals is to bring on board more than 50 banks and 10 large-cap companies to the Cardano blockchain by 2026.
The impact will be a higher utility for ADA tokens, a factor that will play a role in its price momentum both in the short term and in the long run.
Virtual currencies are highly volatile. Your capital is at risk.
Where can you buy Cardano?
Cardano is available on almost all major cryptocurrency exchanges.
One of the best places to buy Cardano is at eToro. Multiple benefits come with choosing eToro as your platform of choice for buying Cardano.
Due to the unregulated nature of cryptocurrencies, there are a lot of cryptocurrency exchanges that are unregulated. This means you can easily lose all your money when trading on them.
With eToro, you don't have to deal with such problems. That's because eToro is a regulated broker with oversight from major bodies like the FCA in the UK and the United States SEC.
eToro is also a perfect broker for crypto newbies. Anyone who has dipped their feet in cryptocurrency knows it is not easy. The volatility is so high that you can easily lose all your money if you are not good at trading. eToro's copy trading feature helps cryptocurrency newbies deal with this problem. All they have to do is copy the trading moves of successful traders based on their success/failure ratio.
eToro also gives investors the option to diversify their crypto portfolios. Cryptocurrencies are a high-risk market, and while ADA is a good cryptocurrency investment, it pays to hold a couple of others. With the eToro Smart Portfolio, it is possible to diversify your crypto holdings, which is done automatically. The best part is that, to access this service, you only need a minimum investment capital of $500.
eToro is also designed for ease of use. For instance, to make deposits to eToro, you have multiple options to choose from. They include Wire transfers, debit/credit cards, and even online wallets such as PayPal, Skrill, and Neteller.
eToro advantages, in brief:
- Regulated by major regulatory bodies
- Automatic portfolio diversification
- Multiple deposit methods
- Disadvantages of eToro, in brief,
- They charge a fee if you don't trade for long.
Virtual currencies are highly volatile. Your capital is at risk.
Is Cardano a good cryptocurrency to buy now?
Despite the cryptocurrency bear market, Cardano's adoption continues to grow. Its core metrics, such as scalability, are getting better as well.
Thanks to its revolutionary Proof-of-Stake algorithm that balances scalability, decentralization, and fees, Cardano's chances of adoption and value growth are quite high.
For investors looking to invest in other high-quality cryptocurrencies aside from Cardano, Ethereum could be a good choice. The second-largest cryptocurrency by market capitalization has a lot going for it. This includes the introduction of deflationary tokenomics. When you take a long-term view of the market, Ethereum is, without a doubt, one of the best cryptocurrencies to buy today.
Like Cardano, you can easily buy Ethereum on eToro in a few easy steps.
Sign up for an eToro account: This should take less than 5-minutes as it only needs your basic information.
Verify your account: You will be asked to upload documents for KYC purposes.
Fund your account: The minimum you can use to fund your account is $50.
Buy Ethereum: Once you have funded your account, you can buy as low as $10 of Ethereum.
Virtual currencies are highly volatile. Your capital is at risk.
Conclusion
Cardano is the 7th largest cryptocurrency by market capitalization. It currently has a market capitalization of $16,495,148,230.04, and its daily trading volumes stand at $1,189,034,246.
Thanks to its improving core metrics such as scalability, and adoption, Cardano is expected to hit as high as $15 by the 2030s.
Besides, with the prices of top cryptos like Bitcoin and Ethereum out of reach, Cardano is one of the high-quality but cheap cryptocurrencies to buy now. This is advantageous as it makes ADA attractive to small investors who want to participate in crypto, but don't have much to invest in.
Virtual currencies are highly volatile. Your capital is at risk.
FAQs
- What will be Cardano's price in 2025?
- Analysts expect Cardano to hit a peak price of $10 in 2025.
- What will be Cardano's price in 2030?
- Thanks to massive adoption, analysts expect Cardano to trade between $14 and $16 in 2030.
- Is Cardano a high potential investment?
- Yes, Cardano is undoubtedly one of the best cryptocurrencies to buy today. It's technically sound, and adoption is on the rise.
Virtual currencies are highly volatile. Your capital is at risk.
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