The crypto markets have been in a downtrend in 2022 with the Ukraine-Russia crisis, news of Biden signing an executive order on cryptocurrency regulation, and being correlated to a correction in the S&P 500.
There’s new bullish news for Cardano investors though – its developers announced three major upgrades will be rolled out in 2022, one implemented so far – we’ll list those in this guide and our ADA price predictions. Cardano price chart – via Tradingview Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. B2C Cardano Price Prediction – Overview
In the short-term, Cardano may need to re-test historical support at the $0.3 level to fill the void in the large impulse move it made to the upside during the 2021 Cardano bull run
The ADA coin price could then consolidate and range between the $0.3 support level and $1 level – now a resistance level – until the end of 2022
If all ADA upgrades are successfully implemented it might reclaim and flip the $1 resistance level to support in early 2023, printing macro higher lows – confirming a new bullish market structure
The ADA coin price would face little resistance above if it can close a monthly candle back above the $2 level by the end of 2023 – only two monthly candles ever closed above that key level
If the crypto markets rally in the run-up to the 2024 Bitcoin halving, the most bullish ADA crypto price prediction would see it making a new ATH in 2024, going into price discovery until 2025 – another one year ADA bull cycle with expansion to the upside fuelled by retail investor FOMO
Cardano Upgrades – Latest News
The research and development (R&D) firm that created and own Cardano, Input Output, posted a Twitter thread with news of core network improvements as part of an ongoing scaling plan. As a part of #Cardano ’s ongoing scaling plan across three major releases in 2022, we yesterday delivered the first of these, upgrading the core network and introducing some powerful improvements and enhancements 1/n In a post on Iohk.io , the marketing and communications director Tim Harrison writes:
‘Following the deployment of smart contract capabilities with the Alonzo update, Cardano is now focused on performance optimization and scalability. We’re now starting to see a diverse range of decentralized applications (DApps) and exchanges (DEXs) launch, with many more to come over the months ahead. 2022 is the year when Cardano starts evolving into a platform to provide sustainable finance (RealFi) for real people.’
Further upgrades to take place in 2022 include: pipelining and network capacity increases
performance improvements to Plutus, Hydra and input endorsers
the deployment of supporting products and architecture from UXTO on-disk storage to light wallets
a new Dapp store, tools and APIs
the Mirthril fast sync solution and sidechains
Cardano Price History
The Cardano price began trading at just under $0.02 when it became available to the public in Oct 2017, on Bittrex exchange and later Cryptopia which was hacked and liquidated, now defunct – underscoring the importance of choosing well regulated crypto exchanges if you invest in Cardano or any crypto asset.
Realising the 40x return on investment (4000% ROI) made since then as an early investor wouldn’t have been possible if your ADA had been held a scam site or low security platform.
Cardano price history 2017 – present During the 2017 crypto bull run that saw retail investor FOMO (fear of missing out) push the Bitcoin price to $20k, ADA spiked to over $1 within three months of launch. During the 2018 bear market it then fully retraced the whole move, back to $0.02.One of the ‘OG’ altcoins, that bull run and reversal encapsulates the volatility of cryptocurrency and shows it is ‘ time in the market, not timing the market ‘ that makes the difference for an investing strategy, alongside dollar cost averaging (DCA) to get a better average entry – don’t go ‘all in’ at one price point. Cardano ATH – $3.10, September 2021 The ADA coin price went on to make new all-time highs in 2021 but many Cardano investors would have capitulated and sold their ‘bags’ during the multi-year bear market between those two bull cycles. Some new additions to the Cardano community will have bought the top at $3 and now be wondering if Cardano will go up in 2022 or if they should sell now.In the past 12 months the Cardano price is down a […]
Protected by Patchstack