Cardano (ADA) Price Prediction 2019: ADA’s Value Could Increase Tenfold

After a prolonged bear market, the cryptocurrency industry appears poised for a slow, measured growth over the course of 2019. Always a healthy indicator for the entire market, Bitcoin has stabilized at a $3,600 support level. Meanwhile, alternate cryptocurrencies are showing renewed movement as investor confidence supports branching out, which is also shown by the Cardano (ADA) price prediction for the 2019 year.

Only recently displaced from the top ten cryptocurrencies by market cap, Cardano has a bright year ahead. Previously plagued by internal turmoil, the academic blockchain project is now free from former chairman Michael Parsons. Parsons enacted several changes in Cardano’s governmental rules, consolidating power – while simultaneously stunting development. His departure signals a new opportunity for the blockchain.

What is Cardano?

ADA, the cryptocurrency developed by Cardano, is first and foremost a development platform. The initial development team modeled their project after a scientific endeavor – actively placing an academic board in charge of Cardano’s roadmap. Further, all developments are peer reviewed and held to rigorous standards to ensure security and stability.

The first step in ADA’s creation was the establishment of the blockchain’s settlement layer. Like any comparable blockchain platform, the settlement layer allowed the cryptocurrency to be used as a digital currency. Once development on this layer is complete, the team will move on to the more complex ‘computing layer’ that will introduce smart contract functionality. Separating functions by layer allows almost considerable feature scalability.

You can find more information about the coin on the Bitcoin Wiki.

Cardano’s Strong Points

The positive look of Cardano price forecast is largely caused by several technical factors. One of them the coin’s block generation algorithm. Mining is an accepted function of many blockchains – it provides incentive for users to validate transactions. However, the alternative Proof-of-Stake algorithm is gaining steam as a way to reduce the absurd electrical consumption of cryptocurrency mining. Cardano’s Ouroboros protocol was one of the first Proof-of-Stake systems, and thus far the only one that is provably secure.

Furthering their desire for absolute user security, they began development of the Daedalus Wallet. In addition to the normal privacy considerations of a cryptocurrency wallet, Daedalus also privates specific spending passwords and transaction monitoring. The wallet is also not exclusive to their ADA currency – current plans include both Ethereum Classic and Bitcoin. Both features positively affect ADA’s price, helping the crypto to keep its stable position on the market. However, technicalities are not the only reason behind the positive cardano price prediction for 2019. Financial behaviour of the coin is also a big factor and ADA’s price analysis shows that the coin is not like most of others.

Long- and Short-Term Cardano Price Analysis

Those looking for sudden, sharp increases in price should look elsewhere. Cardano price chart shows a level of stability that is not often seen in the industry. The measured, peer-reviewed pace of the coin does not lend itself to sudden bombshell news that would rock the established price. Instead, ADA should be considered a longer term, safer investment vehicle. Cardano price in 2019 is not far from its value at the start of the previous year. However, the Cardano price history shows that some of the investors could’ve gained a lot during the year. Today, the current price of the coin is hovering at a support level between $0.03 and $0.04. At the height of the cryptocurrency boom, Cardano price value raised to $1.15 per coin – and it is unlikely to return there this year.

cardano (ada) price history chart
Ada price chart from Jan, 2018 to Jan 2019 on

Similarly to most of other participants of the market, ADA’s price today is significantly connected to that of Bitcoin. However, as a major player, Cardano has a price potential to show some prominent independent movements. Given the current state of Cardano’s development team and the state of the market, it may well ramp up over the course of the year. An average increase in value of $0.04 month-over-month would place ADA’s price at a value of nearly $0.50 – less than half of the all-time high, but ten times the current value.

Current exchange rate of the coin can be found here.

Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. While price analysis is a useful tool, it should not be considered predictive for the future performance of any investment vehicle. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment. Website personnel and the author of this article may have holdings in the above mentioned cryptocurrencies.

One comment

  1. In order to sell some of them. How can i find the option for. I read about Contry in there. But Chile is not in it?? Thanks!!

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