Crypto experts believe that Cardano price will increase in value over time. This is indeed a good method that can make you money by buying and holding Cardano token.
Cardano has been making significant progress in the past two years. This progress sees ADA reclaim highs that were lost in 2018, setting a path for an upward trend. But with Bitcoin and Ethereum making great conversions, what leverage does Cardano have over these two most valuable cryptocurrencies in making you rich?
Rich is relative. But you would agree that an investment that guarantees a ten times return is enough to make anyone rich.
Currently, ADA is within the region of $1.02 - a price region it is predicted to surpass by the end of 2022.
Cardano's blueprint is founded in Ethereum, and this is why some Crypto experts nickname it as Ethereum's little brother. Charles Hoskinson is the leader of Cardano and one of the cofounders of Ethereum.
You are likely to notice a similar pattern in Cardano and Ethereum, and this underpins the opportunities you can explore in Cardano as an early adopter and investor.
Cardano is like a second chance at Ethereum in a lower-priced coin. It has the potential to surpass even $5 in the nearest future. However, Cardano is forecasted to reach $5 level in 2025.
That is probably why we are now getting questions like will Cardano make me rich? If you are among the people asking this question, read ahead, we will give you the answer you are looking for.
Cardano could make investors very rich. Some reasons indicate that it is a strong investment and ADA’s price could experience a huge growth in the near future.
According to experts, Cardano is extremely likely to hit $2.8 by the end of 2022, $3.6 by the end of 2023, $3.7 by the end of 2024, and an impressive $5 by the end of 2025.
Will Cardano Eventually Reach $100?
You can expect ADA to reach $100 in the long run since it follows in the footprints of Ethereum. ADA and ETH are very similar projects yet so different. While Ethereum promotes a closed system, where you have limited options and more technicalities, Cardano is a decentralized network. You do not need to be an expert to explore the Cardano ecosystem.
This translates that Cardano is likely to build its user base faster provided it makes the right moves, and the predictions so far affirm Cardano's rise in the crypto market.
You need to understand that Cardano challenges Ethereum. While this can go south and turn out badly for Cardano, it might be a healthy competition that both projects benefit from greatly. So far, things are leaning towards the latter.
The effective and vase network of Ethereum gives a mental picture of what Cardano can achieve, and this projection should get you excited as a prospective investor.
Ethereum's network is so effective that developers have little to no choice but to use its ecosystem. If, for any reason, it is its network of users. There is a possibility that you could have, at some point, installed Meta Task on your PC or heard or used ERC 20 tokens. Using Ethereum's network is access to its many users who are already familiar with the network. It makes it easier for them to adopt and use any project - a distinctive feature of Ethereum.
This is what Cardano contends. Cardano wants to lure Ethereum users into its network by offering a decentralized network, one that is rumoured to be the most decentralized network in the Crypto market yet.
With all this going for Cardano ADA and the current price of Ethereum at over $2,000, the price of Cardano could reach the $100 level and should not be hard to attain.
Where Will Cardano Be In 5 Years?
The next five years for Cardano are promising. Cardano is into several projects that will not only redefine its place in the crypto market but also set new highs in price.
Despite the delay in the execution of some of its projects, ADA is still one of the favourites to dominate the crypto space going forward. Once a project is launched, it becomes hard to correct errors which could easily translate as poor use case costing developers money, time, and the entire project itself. This is why delays are not signs that a project will fail. Sometimes, it means it is well planned.
One project still in the works for Cardano is the GOGUEN main net, part of which, the Alonzo Hard Fork, was launched in September was year. With its launch now users can create smart contracts on the mainnet. An era that will power-move Cardano a step closer to its big brother, Ethereum.
If you are familiar with Ethereum, you will notice that it has one of the best use cases - the ability to launch smart contracts on top of Ethereum. A trait that makes Ethereum very useful. This is evident in the D5 hype of 2020, where many people built DApps on top of the Ethereum network, creating complex financial instruments on the Blockchain courtesy of its smart contracts.
The Alonzo upgrade triggered the last price run of ADA, the next updates are expected to have the same positive influence. Then, the price of ADA will be unstoppable, justifying its capacity to surpass $5 and even $15 in price.
Check Out: Cardano Price Prediction Forecast
Where Will Cardano Be In 10 Years?
TradingBeast predicts that the price of Cardano will range between $5 and $10 in the next 10 years. This trend shows a slow but steady upward progression for ADA.
When you critically examine the GOGUEN main net intuition of Cardano, you can expect this can of trend. More so, Cardano promotes an open and decentralized network that would not require any level of expertise to explore. This, by implication, means room for diverse users. The more users you have on a network, the more the capacity of that network grows. Ethereum is hard proof.
You should expect an explosive emergence of projects leveraging GOGUEN within the Cardano ecosystem in ten years and, of course, a commensurate price jump.
Read Also: Could Cardano Be a Millionaire-Maker Coin?
Is Cardano A Good Long Term Investment?
Crypto investors and experts believe that Cardano will increase in value over time. This is indeed a good method that could make you money by buying and holding Cardano. There are numerous reasons to justify why Cardano is a good investment. It has a lot of projects under its belt, and it is these developments that make a coin attractive to investors.
Heard about the Marlowe playground? A specialized purpose language for financial contracts on Cardano. It allows contacts to be written in a language of finance rather than a general-purpose language on the Blockchain.
Marlowe ensures a safer and foolproof financial contract anyone can literarily explore. But then, how does Marlow playground make ADA a Good Long Term Investment? Mass adoption!
Marlowe ensures ease of use. An easy to use project brings mass adoption of a coin. The more users you have on a network, the more the network grows. Users are determinants of how useful a project is or is going to be for an investor.
The selling point of Cardano is momentum and adoption. It was near impossible to get people to migrate away from the Ethereum ecosystem. Today, however, we continue to witness brilliant projects and initiatives challenge the Ethereum network. TRC now boasts of more transactions than the ERC 20 network. It is only a matter of time, and Cardano might cement its place in the crypto space, right next to Ethereum literarily.
Should I Buy ADA?
Cardano is definitely worth the attention when it comes to investing in the crypto market. It still has a long way to go. Right now, it is barely halfway to its true potential in price, use case, and value.
Recently, Charles Hoskinson hinted at an ERC 20 converter in the works. This is serious leverage because Cardano aims to lure Ethereum users to its network. An ERC 20 converter is a smart move. Migration will now be a little less stressful for Ethereum users.
There is also a rumoured listing of Cardano on PayPal in the nearest future.
All these are indications that Cardano is setting itself up for a price explosion. Implementation of adoption in Crypto is slow. Even with a convincing use case, the price of a coin is never commensurate to its use case value. Hence the idea of long term investments.