Is Cardanodead? Cardano is not dead, it still holds the 8th position in the market despite being overtaken by its competitors. However, with the end of the crypto winter, the price of ADA is expected to recover sharply, providing investors with a good entry point to go long.
The bears seem to have severely suppressed the Cardano price and it is now finding a new bottom close to the previous bottom. Since the price fell below the critical support at $0.385, the token seems poised to regain lost levels. But with recent developments, the possibility of a bullish reversal is fading.
In this case, the top 8 cryptocurrencies may continue to find new bottoms and eventually drop out of the top 10 cryptocurrencies list soon. There is no doubt that the long-term forecast in the crypto space is clearly bullish, but ADA price may continue to find new ATL (all-time lows).
Is Cardano dead? what is the reason?
Today’s market is a bearish one, with many cryptocurrencies, including Bitcoin, falling in price. Aside from the bear market, the threat of regulation of this new asset class by agencies such as the U.S. Federal Exchange, and the expected introduction of taxes may be a factor hindering adoption.
This is also reflected in the ADA Cardano price prediction as the Cardano price prediction 2021 looks good but ADA has lost almost 88% of its value since hitting its all-time high in September 2021.
Although these external factors have played a large role in the reasons for Cardano’s decline, there is another factor that is hindering Cardano’s growth and that is competition. Bitgert (BRISE), a Cardano blockchain, saw its price rise substantially while ADA fell during the same period.
Most analysts, including those from professional price prediction platforms WalletInvestor and CoinCodex, predict the bearish sentiment will continue. Technical analysis indicators, including moving averages, point to a strong sell in Cardano.
In conclusion, it will be a shift in market sentiment that will restore the price of Cardano and Cardano will shine when the market enters the next bull run.
Longer-term ADA price predictions for the next few decades (like 2040 or 2050) will depend on the upgrade and direction of Cardano, as well as external factors of market movement and crypto adoption. When looking at the internal aspects of Cardano, the best place to look at its planned development (which will affect the ADA Cardano price prediction) is its roadmap.
With the Vasil upgrade taking Cardano further into the BASHO phase of its roadmap, the blockchain enters its final phase before becoming truly decentralized. In the next phase, Voltaire, Cardano should be ready to fly with its community at the helm. At this point, Cardano should be fast, efficient, cost-effective and secure.
Is Cardano a good lnvestment in 2022?
Frankly, unless you’re a day trader or swing trader, 2022 isn’t much of an investment if you’re buying during a bear market because the dips keep falling.
Bitcoin itself has fallen more than 70% from its November peak of $68,000, while most altcoins are down 80% to 90%.
As such, Cardano may not offer great returns in the short-term, but several factors suggest that it could be a coin worth serious consideration if one has an eye on the long-term. These factors include continuous improvement and performance (non-disruption, transaction speed, cost, etc.).
How Long-Term Are Cryptocurrencies? Well, if you bought ADA 5 years ago when it was $0.02, you would have gained over 1,900% if you sold it in November 2022 when it was around $0.40.
Cardano (ADA) price prediction
With the Vasil hard fork failing to boost ADA prices and inflation expected to continue, analysts including LongForecast believe Cardano is facing a prolonged downturn.
The price of Cardano is falling fast and it is expected to continue in this direction and reach the minimum support level of $0.2 soon. It’s also important to remember that the Vasil update hasn’t even been active for a month, and it will spark new investor interest as its new features, improved performance, and lower gas fees become apparent. If that happens, those who bought during the bear market could see handsome returns.
Cardano also has one thing that many of its competitors do not: a consistent top 10 ranking in the crypto industry. This makes Cardano one to watch. If it delivers, there will be no stopping buying pressure, which will push prices higher in time.