Cardano (ADA), one of the most popular cryptocurrencies and blockchain networks in the market could have a very good year in 2020. The project continues to expand in the market and many investors are interested in the possibilities that it could offer in the future. In this article, we will share with you which are the main paths that the ADA virtual currency could take in the future according to how the market behaves.
Before moving forward, it is very important to know what Cardano is and what this project is trying to provide to the market. Cardano is a platform that aims at creating complex programmable transfers of value in an efficient way. This is one of the first projects in the market to be built based on scientific knowledge. Although this doesn’t make Cardano unbeatable, it gives to it an advantage that other virtual currencies that focus on marketing do not have. At the same time, the team behind Cardano includes experts from all over the world that are working in order to offer better services to both users and individuals in the whole crypto space. In the future, Cardano will be implementing a governance system that will be based on democracy and that would allow the whole project to move forward in the market.
ADA is now being traded close to $0.062 and it became the 12th largest virtual currency in the market with a valuation of over $1.62 billion. This comes after several years in a bear market. Indeed, Cardano reached a max price of $1.33 per coin and an all-time low of $0.0173. This year, Cardano and most of the virtual currencies in the market have been expanding and reaching price levels not seen in the last years. This is due to the fact that many users are expecting Bitcoin (BTC) to reach new highs.
Bitcoin is the largest virtual currency in the world and it is going to experience a halving event in May this year. This is one of the reasons why users are very enthusiastic about what can happen with this digital asset. If Bitcoin continues growing and pushing altcoins to reach new highs, this is expected to have a positive effect on Cardano as well. Cardano users are now excited about the fact that it grew by over 115% in just a few weeks. If it wants to reach its all-time high, Cardano would have to grow by 1786% yet. It will be very important for ADA to move forward and show the bear market is definitely over. Surpassing the $0.10 level will be massive for the virtual currency considering this is a resistance level. If bulls eat the bears around this price level, ADA could reach the highest price in more than 1 year and a half. If this price is surpassed by the end of this year, this would become the highest price ever reached in over two years.
AltSignals is one of the most popular and respected crypto trading signals providers in the world. After being operative since 2017, they are allowing users to make profits only by following the signals they provide. You can start using their services provided through Telegram in order to expand your crypto trading strategies and get more profits over time. This is a good thing to do for both newcomers and expert traders. Newcomers can benefit from getting information about when to enter and exit the market. Meanwhile, experts can confirm their positions while trading, which can be very useful to improve their trading strategies. In addition to it, if you are a Cardano investor, AltSignals works with Binance, one of the most popular crypto exchanges in the market. In this way, you will receive great data when it is a good moment to sell or buy the ADA virtual currency.
In this article, we aimed at showing you what is Cardano and how the bull market that is getting formed in the crypto space could help ADA reach new price levels throughout 2020. Nonetheless, there is no confirmation about its future and whether it can reach new highs. Disclaimer: All the information provided in this article must not be considered investment advice. All that is written in this article is for educational purposes only. If you are trading digital assets, never invest more than what you are able to lose.
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