Initially released in 2015, Cardano is the first of its kind of cryptocurrency. As of April 2021, the coin has a market cap of over $41.6 billion and is currently valued at about $1.3.
In January, the coin was valued at just 0.04; hence, it had some serious growth. What will be the price of Cardano before the end of the year? Find out in this article.
Cardano Price History
Over the years, Cardano has been affected by bears and bulls, causing the price to fluctuate. However, in the past year (2020 - 2021), the cryptocurrency has been on a bullish run. Using Statista data, Cardano was priced at $0.05. In February 2021, the price was at $1.35 which is about a 2700% increase.
From Coindesk, Cardano has a YTD return of over 600% in the middle of April 2021. This shows how much the coin’s value has been appreciated since the start of 2021 as against the end of 2020.
Cardano Price Prediction Q1
The first quarter of 2021 is over and as mentioned earlier, Cardano has recorded more than 600% (precisely 6.19.89% as of April 19) since the start of the quarter. This is from a $0.35 value to $1.30. It’s within this quarter that Cardano recorded its highest price ever at $1.56. Since the coin has maintained a value of over $1 since February, it's predicted that the coin will be valued at $1 to $1.4 by the end of April 2020.
Cardano Price Prediction Q2
Following the previous quarter, Cardano will start Q2 in May at around $1.4 and stay so till the end of the month. According to TradingBeasts’, Cardano maximum predicted price is around $1.8 while the minimum price possible is around $1.2. By the end of the second quarter, the price of Cardano is predicted to reach $1.45. The possible maximum price by the end of the Q2 is around $1.8.
Cardano Price Prediction Q4
Entering the final quarter of 2021, Cardano is forecasted to be valued at around $1.45 with a minimum $1.2 price. By the second month in the quarter, the coin could average $1.46 and maintain this price until the third month. A 26% increase is expected by the end of the quarter/year as the price is forecasted to reach over $1.5. Cardano can hit a maximum price of $1.9 by the year’s end and a minimum of $1.3.
Read Also: Could Cardano Be a Millionaire-Maker Coin?
Cardano Price Prediction 2022
In early 2022, Cardano’s value is forecasted to hover around its closing price in 2021. However, a bearish movement is predicted towards the end of the year. Cryptocurrencies or any other asset can’t always maintain a straight-up line.
Following the predicted bullish market all through 2021, 2022 is a likely year for Cardano to have a bearish moment. The coin could fall back to around $1.3 at the end of 2022 with a minimum and maximum possible price of $1.16 and $1.70 respectively.
2023 And 2024 Price Movements
The 2023 and 2024 price movements of Cardano ADA will be dependent on the price outcome by the end of 2022. If the above ADA price prediction in 2022 happens to be correct, then the bearish impulses could continue into 2023.
Nevertheless, one of the key factors that’ll affect Cardano’s price at this time is adoption. Due to the uniqueness of the coin, it’s possible that it could be adopted into several technological platforms. If that happens, there could be a bullish market so you should watch out for those.
Check Out: Cardano Price Prediction for 2025 and 2030
Cardano Technical Analysis
Looking at the ADA price chart, there’s a strong bullish trend in 2021 compared to any other year. The major boost was between January and February. ADA went from opening at 0.29 at the start of January to close at $1.21 in the middle of February. The last major bearish trend in the market was around August 2020 when the coin was valued at 0.10.
As mentioned earlier, the price of ADA will be majorly affected by adoption in the next few years. However, competition for other coins is also a price fundamental. Bitcoin takes the spotlight as a positive correlation with Bitcoin and Cardano can massively affect its price. If the Bitcoin is appreciating, it’ll also pull ADA upwards. Likewise, it will affect other cryptocurrencies that Cardano correlates with.
With cryptocurrencies, nothing is certain as the prices mainly depend on the volume of a coin being traded. Hence, the Cardano price predictions in this article shouldn’t be taken as facts but as a guide for investing.
That being said, you can expect Cardano to have an appreciating run in 2021. Considering it’s a relatively new coin, many future events can affect its price. As usual, follow the safe investing rule, don’t invest more than you can afford to lose.
eToro – Best Platform to Buy Cardano
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.