Cardano’s popularity has surged in the past two years. It made it to the list of the ten largest cryptocurrencies with a $40+ Billion market capitalization and elbowed out Polkadot as the most formidable “Ethereum Killer.”
Between early 2018 and the last quarter of 2020, Cardano maintained a sub-$1 price-performance with resistance and support levels of $0.09 and $0.02, respectively. In October 2020, however, Cardano started gathering momentum – recording more than 100% value appreciation in February. In the first week of September 2021, ADA prices broke the all-time high of $2.3 set in May 2021 and proceeded to set a new all-time high of $3.10 later in September.
Can Cardano regain this bullish momentum? What will it be the Cardano ADA altcoin price before the end of the year, and can it reach $10 in the five years?
Most crypto analysts and ADA investors are quite optimistic about ADA’s future price performance. The Wallet Investor, on the other hand, predicts that Cardano will hit $9 within the next five years.
CryptoGlobal expresses most optimism about Cardano’s future price performance as it expects the altcoin prices to continue soaring for the next five years.
In reaching $10 in the next five years, Cardano would need to grow its current market capitalization tenfold – to $450 Billion. Some analysts believe the ADA can sustain the current bullish trend for the medium term and possibly break above the $10 valuation within the next five years.
Others are more conservative and believe that while ADA has an overall optimistic outlook, it may take the Cardano altcoin more than five years to break above $10, especially given its slow uptake by developers and stiff competition from both Ethereum and other perceived “Ethereum Killers.”
Can Cardano Reach $1,000
Cardano has a maximum supply of $45 Billion ADA altcoins for each to reach $1000, the Cardano network would have an accumulated market capitalization of $34 Trillion. Most experts haven’t contemplated Cardano’s valuation growing to $1,000 as most consider it highly improbable – at least in the foreseeable future.
No one can, however, rule out the impossibility of Cardano ADA tokens reaching $1,000 with the utmost certainty – given the highly unpredictable nature of the crypto markets.
When Bitcoin launched, for instance, Wall Street rubbished it off as a bubble and a scam. Not even its early adopters believed one BTC could be worth more than $60,000 a decade later.
Cardano promises more than Bitcoin’s security and Ethereum’s decentralization. It pledges scalability, faster transaction speeds processing, lower fees, and a more eco-friendly crypto environment with its peer-reviewed Ouroboros proof-of-stake protocol. By integrating smart contracts, allowing for the creation of DApps, Cardano is bound to benefit immensely from the ongoing DeFi explosion.
Analysts have also pointed out the highly innovative crypto projects on Cardano’s Roadmap that they believe will help thrust ADA prices upwards. The question, however, remains as to whether these are sufficient to drive Cardano ADA price past $1000 and sustain it at this price range in the foreseeable future.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Can Cardano Reach $10,000
Discussion within the Cardano community forum and Cardano Sub-reddit are currently dominated by rather wild predictions of how far high the ADA prices may hit. Crypto industry analysis, investors, and enthusiasts are engaged in a price prediction battle with optimists arguing for the possibility of ADA hitting $1,000, $10,000, and even $15,000 in the long run. Conservatives, on the other hand, continue pouring cold water on such claims and explain why ADA might find it hard breaking above $100.
We have already mentioned that hitting $1,000 in the foreseeable future is highly improbable. Reaching $10,000 would, therefore, be an even harder uphill task. Currently, not even the most optimistic analysts believe that the upcoming upgrades to the Cardano blockchain have the potential of propelling its prices or its market cap towards $10,000 and $450 Trillion, respectively.
The factors acting against ADA’s possible meteoric rise to $10,000 extend beyond Cardano and the crypto ecosystem. They touch on its competitiveness within the crypto sphere as well as the threat of government regulation.
Check Out: Cardano Price Prediction Forecast
Will Cardano Make Me A Millionaire?
Cryptocurrencies are at the pinnacle of the riskiest and most volatile investments – and Cardano is no different.
The potent for earning handsomely from Cardano investments is as high as the threat of blowing your cryptocurrency portfolio.
An investment in Cardano altcoins can, without a doubt, make you a millionaire, but only if it is well calculated. This implies that you have to match accurate price predictions with the right investment amount, patience, and proper risk management tools.
Here is an example: If your Cardano price prediction is accurate and similar to CryptoGlobal’s where you expect the altcoin to reach $10 by the end of 2025 – a 780%+ jump from its current price – you would need to invest about a minimum $127,000 (approximately 100k ADA altcoins) today to be millionaire.
While the promise of fast returns from cryptocurrency investments may be quite enticing, we advise you to only invest as much as you can afford to lose.
Read Also: Will Cardano Make Me Rich in 10 Years?
Will the SEC Be Coming After Cardano?
SEC Commissioner Hester Pierce recently discussed the challenges of regulating the DeFi ecosystem and alleged that the network still has a “Wild West” reputation. Legal and Crypto industry observers are, however, wondering if DeFi is next on SEC’s radar. Cardano, having joined the DeFi ecosystem, speculation is rife if it might be caught in the crossfire.
ADA investors have nevertheless defended the altcoin and highlighted different legit reasons why ADA may not be targeted by the SEC. Key among these is the fact that the Cardano ICO took place in Japan and that the ADA parent company IOHK (Input/Output Hong Kong) demanded that all the altcoin buyers pass the KYC guidelines.
Some have also argued that prosecuting Cardano right after it achieved 100% decentralization would be relatively harder. The altcoin is unlike Ripple, which is centralized and much of the tokens owned by the Ripple foundation.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Key points
- Cardano’s popularity has surged in the recent past, helping the network overtake its fiercest competitor to list at position 6 on the largest cryptocurrencies with a market capitalization of $34+ Billion.
- Some experts are optimistic that Cardano can reach $10 in the next five years
- Experts do not expect Cardano to reach $1000 in the foreseeable future.
- Upcoming updates to the Cardano network are expected to continue influencing positive ADA price performance.
- There is no threat of the SEC coming after the Cardano network, not just because it is decentralized but also because its ICO was held outside the United States.
Read More:
Why We Think Cardano Could Be The Next Big Thing
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