Many people often wonder about buying crypto when it comes to crypto investment. It is not advisable to only buy Cardano, Bitcoin, Ethereum, or any other crypto as an investment. Rather when you want to buy, you should keep an eye out for different cryptocurrencies worth owning in your portfolio.
By owning different cryptocurrencies, you increase your chance of making a profit and reduce the effects of cryptocurrency volatility on your earnings. With this in mind, one cryptocurrency that caught our attention is Cardano. But why would anyone want to buy Cardano considering the market crash in 2021? Well, maybe Cardano’s future price prediction, which we will be discussing in this article, will change your mindset about this crypto.
What Caused The Cardano Market Crash?
When you want to invest in any cryptocurrency, especially when you recently noticed a considerable fall in its price, this should make you ask why. Why it crashed will determine whether or not you should proceed to invest in it? It is important to take note of this because there are times when a crypto could drop in price because of the bad reputation of the crypto. So it’s important always to do due diligence when you want to invest in any crypto.
In the case of investors with interest in buying Cardano, its price drop is nothing out of the ordinary. Cardano’s price drop is due to the regular good old volatility of the crypto space. Before the market crash, Cardano experienced a significant price increase. It was at an all-time high in early 2021, which made many investors cash out their Cardano. And if there is one thing you should already know about the crypto space, when too many people are selling a coin at a set time, it will cause the price to fall. Its simple economic logic of supply surpasses demand.
Why Will Cardano Rise Again?
Now that you understand why the Cardano market crashed in 2021 let us see why it will rise again. Like many other cryptocurrencies nearly a decade old, Cardano has one thing in common: they are quite affordable. However, Cardano developers are always on their toes to develop innovations to improve the network. The more uses a cryptocurrency has apart from sending and receiving tokens, the more likely its price will increase. Here are three reasons why many financial experts agree Cardano price will increase in the nearest future:
Parent Company Partnership
Cardano parent company Input-Output is set to partner with a bunch of companies. These partnerships are going to bring some major development to the industry. Input-Output partnership with World Mobile Group, a mobile network built on Blockchain, will allow Cardano to expand to African countries like Ethiopia and Tanzania. Also, the Input-Output partnership with EMURGO will facilitate decentralized application development.
Launch Of Djed Stablecoin
During a Cardano summit in late 2021, it was revealed that Djed would be launched with COTI as its major issuer. Djed will influence Cardano’s price by assuring stablecoin efficacy and price stability. Hence, transaction costs will be more predictable, and users will avoid volatile and exorbitant gas fees.
If you are still considering whether to buy Cardano, perhaps the fact that celebrities like Elon Musk endorse it will reassure you. Gene Simmons from the rock band Kiss crew is also a big fan of Cardano, tweeting he brought up to £216233 ($300,000) worth of Cardano.
What Is Cardano’s Future Price Prediction?
Now to the main topic of interest, what does the future hold for investors who want to buy Cardano? According to many financial experts, anyone who buys Cardano now can rip more than a 25-fold profit by 2025. While currently, the price of Cardano is dangling around $1, by 2025, financial experts predict its price will grow up to $25.
It’s not surprising Cardano’s price can grow so high in only less than three years from now, after all. After all, coming from last year till 2022, Cardano has seen many major developments. The Cardano Blockchain supports DeFi, the Ouroboros Hydra solution, and the smart contract solution, among other network developments.
So, assuming all these stars align, nothing stops Cardano’s price from skyrocketing. To some newbies, $25 for crypto may not seem like much, but in actuality, it means your investment will grow by 2500%. So if you were to buy Cardano worth $1000 now, by 2025, you could become a millionaire cashing out about $2,500,000.
Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice. Invest responsibly and never invest more than you can afford to lose.
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