In this guide, we will voice our own and market’s opinion on ADA future while discussing Cardano price forecast for 2020 and beyond.
Please bear in mind that you should take this and any other prediction with a grain of salt since predicting anything is a thankless task, let alone predicting the future of a novel, highly volatile financial asset like ADA.
Now, let’s head into it.
Before we delve deep into the Cardano price prediction and answer questions if Cardano is a good investment or not, why will ADA succeed or fail or why will ADA price rise or drop, let’s quickly throw a glance at what is Cardano and its to date history.
Cardano to-date achievements
The Cardano team intended to finish Shelley by Q3 2018, but the development deadlines have been extended to Q1 2019. And this is one of the biggest events for Cardano since its inception. And it finally got done in Q4 of 2019. And it really made Cardano communities bustling zones again.
Shelley is the second phase of Cardano roadmap that will make its blockchain actually decentralized. ADA is currently in Byron, the bootstrap phase, where they are making improvements and debugging the code.
Shelley consists of 3 main functions:
- Incentives: Provides stakeholders with monetary incentives to ensure that the system runs smoothly
- Delegation: Allows stakeholders to delegate their right and obligation to sign blocks to a third party
- Networking: Provides network infrastructure to support decentralization
After implementing Shelley phase, ADA is set out to introduce the Cardano Improvement Proposals, or CIPs with a built voting system, details of which will be released soon. Initially, IOHK will make all CIPs, there will, however, be an increasingly better mechanism for gaining consent for them.
Part of the ongoing projects is scientific research that has made possible a gradual shift from the lab to coding. This has facilitated the revision of Ouroboros and has also brought together game theorists as well as programming experts to try and identify new applications for the Cardano ADA network.
Chance to overtake Ethereum
You can’t build anything remotely serious on Ethereum right now. You can’t say “sorry, our enterprise grade application for banks is not working since Cryptokitties got popular again”. And that’s just scalability. You need regulations to be in place too. Businesses need to know what we can and can’t legally do within this space. Besides scale, that’s the biggest factor holding us back. The security part of Ethereum is icky at best too.
Either Ethereum scales, or everyone moves on to the next protocol and if Shelley does what it promises, Cardano is going to be the prime candidate to take over the throne.
Overall, the Cardano roadmap has five phases — Byron, Shelley, Goguen, Basho, and Voltaire.
In the Goguen phase that is also already underway, the focus will be on the Universal Language framework development, IELE development, and security improvements. For investors, this phase is where the token will gain more utility with the execution of complex smart contracts. Other phases will not start before 2020.
The Basho phase will improve scalability, security, and performance by implementing a revised network layer as well as Ouroboros Praos, the next generation protocol of Cardano’s Proof of Stake consensus algorithm.
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The Voltaire phase is the final phase of Cardano’s current roadmap. In Voltaire, we will see the implementation of a treasury system and a governance model.
Quick interruption …
If you are still on the fence if you should buy ADA or not, here is a quick overview of best places you can buy Cardano tokens.
Once you buy your ADA, you will want to store it on a safe, un-hackable place and you need a good wallet for that. Here is a full guide on best ADA wallets and below is a quick overview.
Our ADA Price Prediction for 2020
Important notice before we delve deeper into the quivery land of crypto predictions – all of ours and other people’s forecasts should be taken with a grain of salt and should be looked at as a very vague indication of project’s value. Short term analysis and predictions offered by diverse traders and their groups also belong to this category, although they could have some merit if the crypto signals are offered by real pros and experienced TA people.
ADA, as the rest of the market, is tied at the hip of bitcoin’s price action. If bitcoin embarks on another bull run, ADA can hope for one as well.
With the latest development in the world and the impending worldwide economic crash, bitcoin failed to decouple itself from traditional markets and lost 40% in one day.
The rest of the market slumped in an even harsher fashion, losing 50%+ in one day. Since this is a black swan event, an unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences, there is no one who can legitimately claim that he or his algorithm can predict short-term price developments for anything, let alone cryptocurrencies.
Many experts agree that it will get worse before it gets better, both in terms of human health and economic situation.
We can only speak in very general terms and make a forecast that cryptocurrencies will probably drop below even the 2018 lows (many of the altcoins will most probably dip to unprecedented depths and record new all time lows).
Once this tough situation passes, a crazy bull run is what we all hope for and probability for such development is pretty high.
Long-term Cardano price prediction
As a result of the ICO mania of 2017, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will ADA be among those 5%?
Hard to tell but probability for that is fairly high as ADA has built a reputation of an academic and serious project that might move slow, but radiates professionalism and instills trust in their hodlers. Charles Hoskinson is the public face of the project and seems to be in charge of all major aspects of the Cardano blockchain: from the code development to business activities along with interacting with community and keeping them in the loop.
In 2020, ADA needs to make sure not to miss any deadlines (like they used to in the past) and deliver what they promise to keep their spot under the sun of crowded dapps platforms niche.
Considering Ethereum is still a re-inventing themselves with a complete makeover of its ground working principles, ADA has a unique opportunity to seize the throne from Ethereum and become the default dapps platform for the future.
Why will Cardano (ADA) succeed?
Read our updated guide on best ADA wallets.
Why will Cardano fail?
Can Cardano reach $1, $10 or $100?
Is Cardano (ADA) dead?
Market Prediction For Cardano Price 2020
With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate. Price predictions are a thankless task.
Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the Cardano (ADA) price, which will give us another point of view to consider:
Forecasting machine at WalletInvestor is spews out a very optimistic future price for ADA coin: in the last month of the year, Cardano price will be at $0.24 according to this site.
Much more moderate stance towards ADA’s year has a prediction algo at cryptoground.com that sees ADA doubling its value to $0.06 by the end of the year.
Read our updated guide on most profitable coins to mine.
Crypto town is a website which gives out technical analysis for short-term and long-term predictions for various cryptocurrencies. According to them, Cardano will increase by 200% in 2020 to that of the price achieved by the end of 2018, which will be roughly $0.06, which looks like a conservative prediction for ADA.
Long-Term Cardano Price Prediction Using Technical Analysis
According to longforecast.com that offers crypto predictions based on their algorithm’s technical analysis, the Cardano price prediction for December 2020 is $1.89.
This is way too optimistic in our eyes and goes to show how unreliable traditional methods of analysis are when it come to cryptocurrency world.
Long-Term Cardano Price Prediction Based on Team, Technology and Other Factors
Cardano is managed by a very strong team driven by the vision to develop a next-generation cryptocurrency.
One concern, though, is the fact that IOHK and Cardano foundation have only one more year of contract that obliges them to work on developing Cardano blockchain. What will happen after that?
If we trust in the word of Charles Hoskinson, the face of Cardano, they will ignore the contract and work until the job is done and Cardano is finished, deployed and fully functional.
This is the most crucial development that all ADA holders should keep an eye on as the epilogue will have serious repercussions on the whole project.
Cardano Price Prediction 2023
]If everything goes well with their roadmap, Shelly and Goguen hit the ground running, ADA might see its ATH value from 2017 – meaning it could go above $1 again.
ADA Price Prediction 2025, 2030
What Is Cardano Used For?
Cardano is third generation smart-contracts blockchain that has its own native token called ADA that is used to directly and quickly send and receive digital funds across its network.
How Many Cardano ADA Coins Are There?
The maximum supply of Cardano is 45,000,000,000 ADA. The circulating supply is 25,927,070,538 ADA.
ADA will probably gain positive momentum with bitcoin’s expected price surge and realistic price prediction for ADA in the coming months is 50-100% increase of its current price.
That is highly unlikely because in order for Cardano to reach $10, it would mean that bitcoin is at $1.6 million per token (if we assume that the ratio between BTC and ADA stays the same as it is right now).
Cardano sounds more powerful than Ethereum, in theory. However, it literally has nothing to show in practice. So the gap between ETH and ADA (Ethereum has a thriving developer community and increasing brand presence in mainstream media and financial circles) is huge and it would take a real wonder for ADA to overtake ETH.
Because it is different than all other crypto project in its philosophy and approach to development of ADA blockchain. It is rigorously peer-to-peer reviewed and researched with deliberately slow deployment of new upgrades to the network. This serious and academic modus operandi could end up tipping the scales in Cardano’s favor.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com