As earlier reported, the digital asset market started with many top tokens in the red zone. Stellar token, and XRP along with a number of top assets experienced huge losses on the day. Now, the charts analyzing trading for the ADA/USD pair is showing that Cardano dropped no less than 12% in the last 24 hours. The coin is now going through a difficult period in the digital currency market. Will ADA bounce back? Will Cardano ever recover?
Cardano (ADA) Price Today – ADA / USD
Cardano Price Prediction: ADA Price Is Not Seeing Much Growth
Cardano ADA slumped from the $0.078 position to trade at the $0.065 level in only 24 hours. ADA may close trading for the day trading as low as $0.070. The digital asset has been having one of the slowest days in the week. The price of the coin dropped to a new low of about $0.065 in the past few days alone. The current action for Cardano shows that the coins market performance does not necessarily bring any respite to traders. The ADA price might actually need time to come out of its current slow trend and rise back up.
Cardano Price Analysis for the Last 24 Hours
At the beginning of trade yesterday, the price of Cardano started moving at the $0.078 level. Later on, it started dipping from that price point to reach a 24 hour low of $0.071 at the beginning of trade today. The price of the coin further dropped to hit the $0.062 position showing no less 12% dip in prices. However, the coin started a recovery and is currently trading at the $0.065 level as of when this report was published.
The total market capitalization of the coin is currently listed at $1,695,888,626 by coin market cap. The coin has a 24-hour trading volume of $128,247,965 and returns on investment of 202.75%. The ADA coin had a circulating supply 25,927,070,538 ADA per coin market cap.
In the last 24 hours alone, ADA has reportedly recorded a downward action of over 16% from its $0.078 value. The coin actually closed trade yesterday at the $0.071 level. It might close today at the same value if history is to be applied.
Cardano Price Prediction 2019: What To Expect from ADA Price
The price of ADA may continue to move in this current slow pattern for at least an additional day. It may eventually start gaining upward price movement later in the weekend after the above prediction. the price of ADA may start trading over the $0.082 position from next week moving forward. The price of the coin may reach the $0.085 mark by the end of this month and get to around $0.3 or the area $0.5 by year-end.
This is actually a good time for investors to weigh their options and invest in the ADA token in bulk amounts. This is because the value of the coin is expected to improve in the near future. Hence it is recommended that holders of ADA save for that time in the future when the price of the coin increases if they want to reasonable gains. However, this is purely speculative. Only time will tell if volatility will not cause lasting damage.
Cardano (ADA) Price Prediction and Analysis in October 2019
Today we will be examining the past price trends and upcoming developments of the ADA cryptocurrency in order to develop a Cardano price prediction for October 2019.
ADA is the native cryptocurrency of the Cardano blockchain platform, which facilitates fast transfers of digital funds by using secure and scalable technology.
The platform describes itself as the first blockchain to have been created by academic scholars and researchers based on scientific philosophy. Built with Haskell programming language, the platform is structured in layers that allow developers to perform soft fork upgrades with great ease.
Cardano also supports the creation and deployment of decentralized applications and services. Their blockchain system has also been the first to be implemented in fields such as aerospace and banking applications.
Cardano Price Prediction: Analysis
Cardano started the month at $0.0388, closing the day at around the same value at $0.0385. On October 2nd, it was trading at the same price, but saw a small increase throughout the day, closing at $0.039.
October 3 opened at $0.0397, with the maximum price that day being $0.0404, and the minimum $0.0378, closing the day at $0.0385 after maintaining a slow descent throughout the day. The following day, ADA started the day at $0.0385, so it shows some signs of recovery as the coin grew and passed the $0.040 mark, peaking at $0.0410. October 4th closed at $0.0399.
Cardano was trading hands on October 5th at $0.0399, with the day seeing some minor fluctuations, keeping the coin between the $0.041-$0.039 range. ADA closed the day at $0.0405.
October 6 had a rather optimistic start, as it opened the day at $0.0405, managing to climb back up to $0.0412 levels, and closing the day at $0.0392. The next day, the price started at $0.0392, with some minor slumps at the beginning of the day, but managed to gain some momentum towards the end and closed at $0.0417. The Cardano price prediction at that time forecasted that if ADA broke the $0.04 resistance levels, a bullish trend would follow for the coin. This turned out to be somewhat true, as ADA went on making some gains in the following days.
On Oct the 8th, Cardano experienced an upswing in the first few hours of the day as the price went from $0.041 to $0.042 by 1.37%, the price dipped later on by 3.69% to $0.049. Just before the day closed, the price saw a small recovery, going from $0.040 to $0.041 by 2%.
The day of October 9th brought some noticeable price movements for ADA. The first few hours saw a decrease in value from $0.041 to $0.040 by 1.21%. Further, Cardano continued going up, eventually reaching $0.0436, but decreased and closed at $0.0427.
October 10th opened at $0.0427, with the highest value being $0.0428 and a minimum of $0.0408, with a slump towards the end of the day, closing at $0.0417. October 11th started the day at $0.0417 and struggled to keep itself at $0.041-$0.042 levels, closing the day at $0.0403. October 12th maintained a steady price movement, opening at $0.0403, with the highest and lowest valued being $0.0418 and $0.0402 respectively, closing at $0.0410.
The following day, ADA started where it left off at $0.0410, its highest for the day being $0.0428 for that day, but never went below $0.0407. The closing price was at $0.0415.
October 14th had a trading price of $0.0415, with positive movements throughout the day, the maximum and minimum prices being $0.0432 and $0.0412, respectively. But the trading volumes still remained low, which made it improbable that it would see another significant rise too soon. The coin ended the day at $0.0420.
October 15 opened at $0.0420, with the highest value being $0.0429, and towards the end of the day, it dropped to its lowest of $0.0393. ADA closed at $0.0398.
Today, October 16, ADA has a trading price of $0.0395, down 4.38% in the last 24 hours. The coin ranks 12th, with a market cap of $1,025,713,162 USD, and a 24-hour trading volume of $48,831,557 USD.
Our Cardano price prediction will go on to focus on ADA’s correlation with Bitcoin and how it will affect its price. Most Altcoins, including Cardano, are not paired against fiat currencies (and only a select few are paired with USD-pegged stablecoins), which leaves Bitcoin as the best option.
As a result, when Bitcoin’s price follows a stable movement, it becomes the perfect base currency for buying Altcoins.
As correlation is measured between -1 and 1, values over 0 show that Cardano is mimicking BTC price movements, and values under 0 show that Cardano is moving in the opposite direction of BTC prices. Values around 0 show that ADA stays steady when BTC increases or decreases.
For most of its market history, ADA has had a correlation coefficient of 0.90+, hovering around 0 values for a small period of time as ADA couldn’t keep up with Bitcoin’s sudden price upswings.
Cardano has a very busy roadmap ahead, with many new developments and implementations to come. It will soon complete the launch of their incentivized testnet for Shelley, which went live back in June. Shelley is Cardano’s second phase from its roadmap, an implementation that will make the blockchain truly decentralized. ADA is now in the Byron phase, which is still in the process of improving and identifying code bugs.
The Shelley testnet offers real incentives such as staking and delegation rewards to encourage more developers to participate. After the Shelley phase is done, ADA aims to implement Cardano Improvement Proposals or CIPs with an in-built voting system.
The development team is very active with its implementations, and it also has a strong presence in the community and on social media, factors which have to be considered when making a Cardano price prediction.
Cardano (ADA) Price Prediction: Market Opinion for October 2019
Several crypto forecasting sites have made their own Cardano price prediction for the month of October. Below are some of the forecasts we have gathered from the online space:
Longforecast predicted that ADA at the beginning of the month will be 0.039 Dollars, with a maximum price of $0.044, and a minimum price of $0.033. The month’s average price is expected to be $0.039, with Cardano ending the month at $0.039, change for October 0.0%.
Randforecast has made a Cardano price prediction for every day of the month of October. The site predicts that ADA will have a beginning price of 0.0393 USD, with the highest price estimated at 0.0447, and the lowest at 0.033. The forecasted average price is the same as the beginning price, 0.0393, and they predict ADA will close the month at 0.0387, change for October -1.7%.
Audtoday also made ADA price forecasts for all of the days of October 2019. They predict that the beginning price of ADA will be 0.0404 USD, which will also be the average and closing price of the crypto, change for October 0.0%. All in all, Audtoday predicts a pretty stable month for Cardano.
Cryptorating’s short term prediction for the next week sees ADA at a price of $0.047038, with an increase of 18.9% and, in one month, it expects the coin to be $0.061614, with an increase of 55.74%.
Cardano Price Prediction: Verdict
With this, we conclude our October price prediction for the ADA cryptocurrency. We hope that the information we have provided in this article will be of help to you and your future trading endeavors.
Cardano News Today – Top Headline for ADA
- Cardano Invests in ‘Scientific Philosophy’
- Cardano’s Score Dropped by 2.71% in the Last 30 Days
Open-source crypto project Cardano has adopted a pragmatic approach for its Blockchain development. The network is expecting its “scientific philosophy” along with its peer-reviewed research to create an unmatched infrastructure when it comes to scalability and efficiency. Cardano’s model has been a success to an extent as the digital currency already has a total market cap of $1 billion.
It is currently the number 12 largest cryptocurrency by market capitalization. This has been achieved in only two years of Cardano’s launch. ADA, Cardano’s native token can be traded or exchanged via top digital currency exchanges.
Cardano’s Network is Centralized Despite Posing as a Decentralized Platform
Despite claiming to be a decentralized blockchain, Cardano’s current iteration is Centralized. The transactions on Cardano are facilitated by a group of validators across three different entities. They include Emurgo, the Cardano Foundation, and IOHK (Input Out Hong Kong). These organizations are working to create an upgraded, public model of the platform. This new version is dubbed “Shelley.” It is a much-awaited public PoS (Proof-of-Stake-based Blockchain) designed to offer more scalability. It will be more decentralized than Cardano’s current iteration.
The current Shelley testnet which was launched in June will give way to the new incentivized model of the testnet. The new incentivized version will provide support for 200-300 staking pools, handle staking and the delegation by users. It is going to serve as a first look at how effective Cardano’s PoS incentive models will improve user participation. All ADA earned during the incentivized testnet will be redeemed on the running main net.
Cardano’s Score Dropped by 2.71% in the Last 30 Days
ADA’s FCAS (Fundamental Crypto Asset Score) declined by 2.71% in the last 30 days. User Activity and Developer Behavior fell by 6.32% and 0.64%respectively. Market Maturity increased by 3.25%. While the price of ADA is down by 10.70% in the same period.
Crypto projects are heavily investing in the research and development of their networks (to offer advanced solutions as the amount of competitiveness grows). All in all, these platforms want more adoption, from dApps to enterprises and customers.
Cardano (ADA) Price Today – ADA / USD
Ethereum’s shift to PoS Serenity underscores the collective transition from the PoW (Proof-of-Work) protocol to PoS in the sector. PoS protocols have not matched the resiliency and adoption levels attained by PoW. Bitcoin’s dominance continues for now.
Whether the scientific approach for Cardano will be a success or not remains to be seen. We can only wait to see what happens in the future.
Cardano Price Indicates a Downtrend for Second Day in a Row
- Cardano price indicates an upsurge by day end.
- The falling price jumps towards immediate resistance at $0.0398.
Cardano (ADA) is indicating a fall in the trading price, and the bearish trend has rightly taken over the market. The downtrend in the coin market started yesterday and is still intact. The coin is trading at $0.0392, and the immediate resistance level is at $0.0398. There is a strong possibility that the Cardano price could escalate to the next level at $0.0409 after breaching the said resistance.
Cardano Price Prediction:
In the month of September, Cardano started trading around $0.0451. Immediately, the price escalated to $0.0474 by 5.16%. Later, the currency moved from $0.0434 to $0.0484 by 11.46%. Further, the price kept intact and jumped to $0.055 by 24.43%. ADA coin couldn’t hold itself at the level and fell to $0.0351 by 36.88%. The movement in the price closed at $0.039, with a loss of 11.85%.
In the ongoing month, initially, the price has jumped from $0.039 to $0.0435 by 9.26%. Later, the ADA coin price fell to $0.0379 by 12%, and with its intraday price movement, the currency jumped back to $0.039.
The intraday traders might fetch profits by the day end. For now, the price is likely to reach an immediate resistance level. Here is the list of calculated resistance and support levels:
ADA has been giving a positive result to the traders in the past. The future of the coin is anticipated to be great, and the traders interested in the coin are suggested to go for a long-term investment plan for better results.