Just like it always does, crypto made another violent, strong move in the direction no one expected it and all coins gained back losses previous weekly losses.
The total market cap almost dropped to our predicted zone of $162 billion – it stooped all the way to $170B before bouncing back up (data by Tradingview).
Right now, we are still not in the clear as the market hovers around $198 billion while the “safe” zone is above $205 billion and Fib382 line.
I would argue that total market cap chart is the most important one to pay attention to as it is a leading force and direction picker for all coins, bitcoin included.
As you can see below, Fear & Greed Index is still in the fear zone but that is improvement to the extreme fear status it had only 2 days ago. Sentiment is picking up although many voices are calling for caution as the bears are far from being away – they might only be making a brief pause.
ADA/USD Price Analysis 28th November
On a 4H ADA/USD timeframe, you can clearly see how ADA fell out of a horizontal channel between $0.039 and $0.044 and is now trying to recouperate that zone. Coincidentally, $0.039 is a sturdy support/resistance and that level will lend a lot of impact to short-term ADA price action, depending on how the battle for it plays out.
Right now, the whole market is slowing down after the mini-rocket move from 2 days ago. A move down is still more likely in my eyes as we didn’t drop as deep as I have expected in the previous bear period.
Below is our long-term ADA forecast.
What is the Cardano outlook for 2019 and the following years? Many people are currently asking themselves this question. The ambitious company is still young, but has a lot of expertise and big plans for the future. How will this affect the price and will Cardano be able to meet its timetable?
Cardano was founded by Charles Hoskinson, among others, who was also instrumental in laying the foundations for Ethereum. According to Hoskinson, Cardano is the 3rd generation of blockchain technology. While Bitcoin was the first generation and Ethereum the second, Cardano will build on it and improve its vulnerabilities. The project focuses on the development of advanced software tools.
Cardano is very innovative and has many advantages. These could provide the decisive competitive advantage and bring the project far forward and have a positive impact on the Cardano forecast:
- The platform uses Ouroboros, which is considered a new better version of the classic Proof of Stake.
- The Cardano Blockchain is designed to handle up to 10,000 transactions per second.
- Full compatibility with other blockchains.
- High network flexibility through improved infrastructure
- Improved security
- Extended functions for Smart Contracts
- More decentralisation through improved administration and control
Cardano (ADA) Roadmap
Cardano still has some goals for 2019 that they want to implement. In total, the roadmap consists of 5 phases, some of which have already started or have been almost fully implemented:
- Byron: Introduction of the Cardano-Mainnet. Users can trade and transfer the native token ADA. This phase has largely been completed, and developers are currently working on improving block storage. The Rust project is also under development and is supposed to be a tool box or open source library with different products.
- Shelley: To provide more decentralization by creating incentives for stakeholders and by improving networking and infrastructure. Network and wallet synchronization have also been improved in this phase.
- Goguen: This phase focuses on improving and integrating smart contracts. A new virtual machine, IELE, was developed to be faster, simpler and more secure at the same time.
- Basho: In this phase, development focuses on improving performance, security and scalability. It is still in the early stages of development.
- Voltaire: The final phase is about security, scalability, decentralization and above all sustainability. The introduction of a treasury system and governance should enable the community to manage itself autonomously and the blockchain to be self-sufficient.
Cardano Forecast: What do the experts say?
In general, the Cardano forecast seems to be positive. Most experts and algorithms agree that Cardano will increase in value:
- Smartereum: Smarteum’s Adam Web believes that Cardano is a stable crypto currency that should be included in your portfolio. He believes the ADA token will be worth up to US$2.50 by the end of 2020. The 5-year trend is even more positive. The price could exceed US$10 by then, the expert says. He justifies this assessment among other things with a forthcoming partnership between Cardano and Metaps Plus, one of the largest mobile phone providers in South Korea.
- UToday: It’s in the same groove as Smarteum. However, the long-term assessment is much more cautious. In five years, the price could be around US$5.
- Cryptoground: Here it is estimated that the price will rise by around 93 % towards the end of the next year and settle at US$ 0.16. In the long term, Cryptoground is convinced that the price will exceed US$ 1 in 5 years.
- WalletInvestor: This one is less optimistic. WalletInvestor assumes that the price will fall by up to 83 % to a price of US$ 0.0138 at the end of this year.
How strongly the ADA price will rise and over which period is still unclear. This depends in part on how the roadmap will be respected and whether Cardano will be able to keep to its schedule. The general market development also influences the Cardano price, of course, so there is no guarantee for the estimates.