How High Will Cardano Go This Year?
Read our analysis on How High Will Cardano Go This Year and also read our Cardano Price Prediction 2022
Cardano like all the cryptocurrencies is trading lower since January 2022. ADA is the 8th largest cryptocurrency in terms of market cap. However, the different geopolitical events led to a crash in the price of ADA. Since January 2022, Cardano has lost over 60% of its value.
Cardano’s all-time high was $3.10 which it clocked on September 2nd, 2021. However, since then ADA has not been able to breach $3. Currently, ADA is trading over 80% lower than its all-time high price. The current price of Cardano (ADA) is:
How High Will Cardano Go This Year: A Simple Calculation
What If Carano Rises 5% and 10% Every Month?
|Price as of July 29th||$0.52|
|Market Cap as of July 29th||$17.75 B|
|If ADA were to rise 5% a month, what will be Price By the End of 2022?||$0.66|
|If ADA were to rise 10% a month, what will be Price By the End of 2022?||$0.84|
If Cardano gains 5% every month from now, then by the end of December 2022, ADA’s price would be $0.66 and if ADA rises 10% every month, we may see ADA’s price at over $0.84.
How High Will Cardano Go This Year: Factors That Could Influence the Rise of Cardano
Cardano had a good start to the year. The price of Cardano went over $1.6 and was looking strong enough to breach $2. However, with the crypto market turning red, Cardano’s price crashed and now the price of ADA is well below $1. Several factors influence the price of Cardano. Here are the few factors that could help ADA rise:
- Vasil Hard Fork: Recently IOHK announced that Cardano’s Vasil Hard Fork will go live soon. The Vasil Hard Fork upgrade was delayed as it was scheduled to go live in the month of June 2022. Vasil’s hard fork is to improve the Cardano network for all of its users, and also upgrade the development experience for Cardano. It is expected that this upgrade could help in the surge in the price of Cardano.
- Increase in the Long-Term Holders: Cardano is currently trading slightly over $0.50. ADA has seen a steep rise this year when the price of ADA went over $1.60. One of the major concerns for Cardano has been a high rate of dump rather than hold. In search of short-term profit, many a time the Cardano investors have dumped ADA coins soon after they made some profit out of it. Therefore, for ADA to rise higher, more investors will have to hold rather than dump.
- Government Action: Recently the role of governments around the world has influenced the price of cryptocurrencies including Cardano. The crypto ban by China led to the crypto market crash, and the increase in the Fed’s rate has also played a major role in determining the price of cryptocurrencies. Therefore, any positive move by the Government of bigger economies will benefit the crypto market and any negative move will lead to a crash.
How High Will Cardano Go This Year: A Video Analysis
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in stocks or coins. Please consult a registered investment advisor to guide you on your financial decisions.