Cardano (ADA) Price Analysis: Will Cardano Revive Back From The Sudden Downfall In Prices?

Cardano has been the only scientifically approved and research-driven cryptocurrency. There has been a slight set back to the currency’s overall rhythm, but investors speculate a revival soon with the raging prices of Bitcoin. We are also onboard as the crypto market is highly unpredictable and after a few continuous bad days, the currencies have always risen to bullish trends. The current market analysis shows a mixed picture.

Current Statistics:

• Cardano is ranked at the 10^th position in the top 100 cryptocurrencies list globally
• The market cap of ADA is noted at 1,866,650,316 USD as on May 13, 2019, at 11:44:07 USD
• The price of the coin is trading at 0.071 USD & 0.00001023 BTC
• The 24 h volume has been 122,987,194 USD
• The ROI of Cardano stands at 236.23%
• The circulating supply of the coin has been 25,927,070,538 ADA against the total supply of over 31,112,483,745 ADA

Comparison:

As on April 10, 2019, at 17:34:02 UTC, the market cap of ADA was 2,301,267,267 USD. The price of the coin was trading at 0.088 USD & 0.00001695 BTC, and 24 h volume was 107,067,074 USD. There has been a -19% downward phase in the coin value since the past 40 days. The price has moved between 0.078 USD & 0.059 USD in the past 7 days.

Cardano Price Prediction until 2020:

The highest price achieved by Cardano till date is USD 1.33. Will 2019 be the year for the currency to break all records and emerge as the winner? Cardano’s Charles Hoskinson votes in affirmation to this and adds further that the team is working immensely to seek new partnerships and simultaneously making the platform stronger, flexible, secure and easily adaptable. Additionally, in the recent IOHK summit, Hoskinson promised a better second half of the year with new technological improvements. The recently launched Shelley platform making the transactions faster is probably the first step towards living up to the expectations of traders. The price can reach as high as 0.9 USD by the end of 2019 and can cross the 10 USD mark by 2020.

Conclusion:

Investing in Cardano in bulk is the right choice to make as the currency can be expected to pick up pace very soon.