How Likely To Make a Profit if You Invest in Cardano?

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( — December 6, 2021) —

As the year 2021 began and major cryptocurrencies started gaining the lead all across the board, the crypto-world had its eyes set upon them. Most of the cryptocurrency members had their eyes set upon Bitcoin, Ethereum, Binance Coin, XRP, and Dogecoin, as they were hitting their all-time highs. Among these cryptocurrencies was Cardano (ADA) which was slowly brewing to become one of the largest cryptocurrencies. The cryptocurrency was getting ready to achieve all that is needed in order to achieve its ultimate goals.

These goals involve the cryptocurrency being accessed by the majority of the cryptocurrency community, offering new use-cases, utilities, and hitting new volume goals. It is quite surprising that Cardano began the year 2021 with a price of $0.18 per ADA. From that point, ADA continued experiencing a surge in its price, as it was able to grow to double its price by the end of January 2021. Surprisingly, by the end of February 2021, Cardano was able to grow three times the value that it had achieved at the beginning of February 2021. Cardano began the month of March at a price of $1.31 per ADA, which meant that Cardano was indeed gaining a lot of adoption.

FACT 01:

However, Cardano was just getting started and it was going to achieve much more than what it had already achieved. One of the most important things you need to keep in mind when investing in cryptocurrencies is that they are very volatile. The cryptocurrencies are so volatile that one moment, you would be flying high, and the second moment, you would be at the bottom. This is the trend that continues taking place within the cryptocurrency sector and all you can do is get used to it.

As there is decentralization in play within the crypto-sector, the crypto-creators need to have many strategies up their sleeves, so their crypto can stand out against other competitors. Cardano gradually grew into a competitor of Bitcoin, Ethereum, and other major cryptocurrencies by growing in market valuation and price. The creators of Cardano were ready to bring more investors towards the platform by hosting a couple of major developments in the Cardano network.

FACT 02:

It was the starting of the month of August 2021, when Cardano started picking up on its price due to the launch of smart contracts into the network. Starting the month of August, Cardano’s price had surged up to $2.15 per ADA. Then by the 10th of September, 2021, ADA was almost hitting the $3 per ADA figure.

The reason behind ADA being able to grow that much was due to two major reasons that involved the launch of the hard fork (mainnet) for Cardano towards the end of August. This was further followed by the Cardano Summit that was held by the end of September 2021. At the summit, the executives and the developers of Cardano were able to talk about their plans for Cardano. This injected more confidence and sentiments into the Cardano investors who continued rallying the cryptocurrency.

FACT 03:

As a result, every day, positive information was being shared through Cardano news. Even the cryptocurrency brokers were constantly benefitting from this trend and the investments from investments were constantly growing larger. However, just like other cryptocurrencies, Cardano soon lost its spark. From an all-time high of $3.10 per ADA on September 2, 2021, its price has come all the way down to $1.59 per ADA.

The recent dip in ADA’s price is just like the rest of the crypto-verse, which is currently experiencing a downtrend. It is being expected that the downtrend will continue until the mid of December and then the cryptocurrency industry will soon breakout. If you wish to invest in Cardano, then you need to keep a close eye on the upcoming events. This way, you can keep a track of updates surrounding Cardano and make the right decision at the right time. When it comes to the reputation of Cardano, one thing you need to keep in mind is that it is still the sixth-largest cryptocurrency by market capitalization.