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Cardano could bring out the next crop of crypto-millionaires by 2020

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By now you must have heard about Cardano (ADA) considering the amount of attention it has been getting of late. Launched in September 2017, Cardano (ADA) has managed to quickly make a name for itself as one of the top 10 virtual currencies in the market with a market cap of $3,381,881,920 (at the time of press).

If you are wondering what the future holds for Cardano (ADA), then you are reading the right article. In this writing, I am going to try and share with you relevant Cardano price prediction giving you also an overview about Cardano (ADA) and what makes it stand out.

What is Cardano (ADA)?

Like Ethereum, Cardano is a blockchain technology that was created for the development of smart contracts and decentralized apps. And just like Ethereum where Ether is the digital currency or token used to facilitate transactions on its platform, ADA is the default virtual currency for Cardano’s platform.

However, Cardano offers superior technological improvements over other digital coins such as Ethereum as it aims to develop an accessible, interoperable 3rd generation blockchain. Shockingly, the brain behind Cardano (ADA) is non-other than one of Ethereum’s co-founder, Charles Hoskinson who conceptualized it in 2015 and later launching it in 2017.

Cardano’s Investment Brief History

Unlike other virtual currencies, Cardano did not commence with promotions immediately after formation. In fact, the now number 7 cryptocurrency in the market was worked on for over two years before the management decided to launch it to the public.

Within a month into existence, the digital coin became popular in the crypto market getting listed in some of the leading virtual currency exchanges in a short time. The value of ADA, which was initially at 0.021 US dollars at the time of launch, hit a high of 1.22 US dollars early this year.

Value growth of over 5,000 percent in barely four months. During the same time, Cardano’s market capitalization grew from $0.56 million to a whopping 31 billion US dollars.

Investors found the digital coin as a viable investment asset due to Cardano’s substantial technological superiority it offers over other virtual currencies, and due to a competent and transparent team behind its operations.

Cardano (ADA) Long-Term (2020) Price Prediction

Different crypto analysts have conflicting opinions concerning Cardano’s price prediction for the year 2020. For instance, the technical analysis done by longforecast.com show that Cardano’s price valuation in December 2020 might be at $1.89 which is seen to be a more realistic forecast for the fast-growing crypto.

In regards to its position in the market, there is an alternative prediction for the digital coin:

  • Virtual currency investments will replace fiat currency which will drive the supplementary adoption and development of the virtual currency.
  • The Eastern Pacific looks to be warming up more towards Cardano raising the speculations that it might be used widely in that area.
  • Cardano has the potential to become one of the top-5 virtual currencies in the market although LTC, Ripple, and other cryptos offer it tough competition.

However, Cardano (ADA) future prices depend on market shifts and waves, and it is paramount to note we cannot give exact predictions since more superior cryptos and blockchain technologies keep on popping up from time to time. Still, all in all, as things stand, Cardano is ‘red hot’ investment opportunity and could have given the birth to many cryptocurrency multimillionaires when we reach 2020.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Maxpixel.net

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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