Since the time it was launched, Cardano has had quite a bullish rally gaining over 1500% even making it to the top 5 rankings of cryptocurrencies in terms of market capitalization earlier this year. At its core, Cardano is a Blockchain project set to create a thriving ecosystem for cryptocurrencies.
Basically, Cardano wants to make the development of peer to per Blockchain application easy. It’s the reason why it’s designed as an open source decentralized public Blockchain with smart contracts that enable developers to build more advanced features.
Cardano’s price predictions for the rest of 2018
The cryptocurrency market has been on a bear rally since the begging of the year. Most of the top cryptocurrency have shed a huge percentage of the gains made at the tail end of 2017. With this in mind, it is no surprise that Cardano, initial position among the 5 best cryptocurrencies has dropped to its current position 8. The current price of Cardano as of this writing is $0.19 with a market capitalization of $5.147, 249,460. However, market analysts predict that if the price of Cardano is ever to slide down to $0.13, given that it has maintained a support level of $0.19, we could expect a change in trend on the price of ADA and possibly watch the price stabilize. In contrast, most investors in the crypto space are actually bullish on the ADA coin is set to rise.
Is this a great time to buy ADA?
Well, as affordable as ADA is at the moment not to mention the backing of a robust team, it might just be a good idea to wait a little longer for the price to stabilize before jumping in. In the long run, however, an investment on Cardano is a solid move especially with the development projects currently ongoing on ADA’s Blockchain. Basically, before investing, you have to consider that Cardano, unlike other blue-chip assets, comes with price fluctuations according to market movements. You can definitely hold on to some ADA, however, be prepared for some price swings in the second half of 2018.
In the long run, however, it’s not all gloomy looking at the Cardano project. In fact, market analysts believe that the price of ADA will hit the $10 mark in the long term. How will this come to pass? Well, Cardano has been at the center stage of testnet launches with the Cardano CEO, Charles Hoskinson touring together with the development team to present Ouroboros at places such as MIT. Furthermore, Cardano has had tremendous developments already with the implementation of its Blockchain in developing countries through partnerships with governments like Ethiopia where the company is building Blockchain for agriculture.
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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.
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