What is Cardano?
Cardano, founded by Ethereum co-founder Charles Hoskinson, is a cryptocurrency network that offers the ability to build and run decentralized protocols and smart contracts using an open-source blockchain. Just like Ether is the cryptocurrency for Ethereum, Ada is the cryptocurrency for Cardano.
Cardano Price Analysis
A detailed Cardano price analysis reveals that its price, which was $0.021 at its launch in 2017, reached $1.22 in January 2018, yielding a whopping 6000% ROI. During the same period, Cardano’s market capitalization increased from $0.56 million to $31 billion.
Several analysts, users, and experts use two primary methods to undertake Cardano price predictions. Let’s look at them briefly.
1. Predictions Based on Technical Analysis
Under this method, experts use historical price and trading volume trends for Cardano. The process does not require analysts to pay attention to tangible factors such as technology, team, etc.
2. Predictions Based on Tangible Factors
The price analysis under this method considers other crucial deciding factors such as technological expertise, team strength, and market trends.
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