In the cryptocurrency industry, everything is possible. There are no clear cut rules regarding what can and cannot happen. This is why the industry is considered high reward and high risk at the same time. You can lose all your capital or you can get up to 900% RIO within a few days or weeks. To minimize the risks attached to trading cryptocurrencies, many people are investing in third generation coins like Cardano (ADA). ADA is cheap so you can buy a whole lot of it with little capital and make a lot of profit when the bulls come knocking.
Does ADA Have The Potential To Double In Price?
This week, ADA was one of the top gainers. It traded up by 15% within the last seven days. The price spike has also been accompanied by a rise in trading volume. Hopefully, the bullish pressure will remain during the weekend and extend to next week as well. The weekly chart shows that Cardano (ADA) indicates that the market might be on the verge of bottoming and buyers are ready do take full control. There is a significant bullish reversal pattern on the chart which is also a good sign.
Cardano (ADA) Price Today – ADA / USD
Even if Cardano is down by 95% from its all time high, the platform is still formendable when compared to many others. The project is still in progress and developers are working hard to round up the Byron stage. Across the globe, the Cardano network already has three full nodes. This is one of the reasons why CoinBase isn’t going to list Cardano. The only way Cardano is going to impress investors is if the platform launches commendable projects before the end of the year.
Cardano Price Analysis Now
At the time of writing, Cardano (ADA) was trading at $0.087251. This indicates a 9.96% rise against the USD and a 5.32% rise against Bitcoin. The trading volume over a 24 hour period is $113,636,881 while the market capitalization is $2,262,155,636. The next few days of trading will determine if the price action will change or not.