Cardano Price Consolidates After Falling 10%, What Does The Future Hold For ADA?

Yesterday, Coinmarketcap.com was painted in red as almost every cryptocurrency fell significantly against the USD. Even the price of Cardano which has been mainly bullish since the beginning of the year fell dramatically against the USD. People were forced to start searching for the Cardano price prediction 2019 and Cardano price prediction 2020. On Friday, it traded as low as $0.067619 against the USD which means that it is down by 10.21% against the USD. This is the most significant lose Cardano has suffered within a 24 hour period since the 24th of February. The market capitalization, according to the Cardano news at the time, was $1.75092 billion. This made up for about 1.02% of the total market capitalization of cryptocurrencies. With the price of Cardano currently consolidating, what is the Cardano price prediction 2019 and the Cardano price prediction 2020? What does the future hold for Cardano ADA?

Cardano ADA Price Prediction 2019 – Cardano ADA Price Prediction 2020 – Cardano ADA News Today Records A Consolidation

At the time of writing, the bears were running out of steam. The price of Cardano was $0.069060. This means that it is down by 0.12% against the USD and up by 0.46% against the price of BTC. The trading volume over a 24 hour period is $60,295,068 and the market capitalization is $1,790,525,584. It is range bound between $0.067099 and $0.072323. Within the last 7 days the price of Cardano ADA is down by more than 14.51% against the USD. The seven-day trading range is $0.0671 to $0.0797 according to the Cardano price analysis on Invest Blockchain. 

Cardano (ADA) Price Today – ADA / USD

Name Price
cardano
Cardano
$0.047-4.59%

Since the price of Cardano wasn’t the only one in red, it would be unfair to conclude that the current price action will affect the Cardano price prediction 2019 or the Cardano price prediction 2020. As we already established in our previous Cardano news, the ADA token has what it takes to hit $0.50 and eventually $2. The Cardano blockchain has strong fundamentals and the upcoming Cardano Shelley is going to make the blockchain more attractive to people interested in blockchain technology.

Cardano Price Prediction 2020 – Cardano News Today – Can Cardano Hit $5 By The End Of 2020 Or $2 By The End Of 2019

The most popular Cardano future forecasts place the price of ADA at $0.50 by the end of this second quarter, $2 by the end of the year and $5 by the end of 2020. While these gains are modest and the Cardano development team is working on factors that would increase the demand of the Cardano ADA token, the upward strength of Cardano ADA still depends a lot on the general market sentiment.

Cardano ADA, just like other altcoins, is influenced by the price of Bitcoin. While there are situations in which altcoins like ADA outperform Bitcoin, it would be foolish to conclude that Bitcoin’s price action no longer affects altcoins. So, whether or not our Cardano price prediction 2019 and Cardano price prediction 2020 will happen depends a great deal on Bitcoin’s price action. If a Bitcoin bull run starts, the price of Bitcoin will fuel altcoins including Cardano ADA.

What do you think about the Cardano news today about the current price of Cardano, the Cardano price prediction 2019, and Cardano price prediction 2020? Share your thoughts in the comment section.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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