Cardano cryptocurrency current status and investment prospects
This cryptocurrency recently attracted the attention of investors due to its record price growth.
In just a couple of weeks, Cardano's price has skyrocketed, from 35 cents to 97 cents per altcoin, or nearly 300%.
It's worth noting that even before this surge, the asset had been steadily rising for several months; on January 1, 2021, its price was only 18 cents.
After such a significant and rapid rise, many are wondering: What kind of cryptocurrency is this, and most importantly, what are its growth prospects?
The Cardano platform was created back in 2014, but the cryptocurrency itself entered circulation at the end of 2017 and is essentially a relatively new currency.
Moreover, at first, the currency rose quite quickly from the initial 1 cent to $1.30, but after the cryptocurrency market crash, its price fell to 4 cents and only began to rise again in March 2020:
Now, let's talk about the most important thing: how attractive is this Cardano cryptocurrency for investment?.
Considering that one of its founders is Charles Hoskinson, who once co-founded Ethereum, it's tempting to believe that Cardano will also reach $1,000.
But that's just a pipe dream; realistically, the price could reach its previous high of $1.32 in the near future. Given the current price, this would allow for a gain of around 40%.
Discussing long-term prospects is difficult, as everything depends on the overall cryptocurrency market situation. History shows that global trends are never constant, and a repeat of 2018 is quite possible soon.
At the same time, short-term trading using leveraged
cryptocurrency brokers . As for long-term investments, it's better to focus on assets that haven't yet shown such significant growth during the last uptrend.
Read also:
The most popular cryptocurrencies for earning - https://time-forex.com/kriptovaluty/popularnye-kriptowaluty
