Cardano

bullish

2024

DeFi

The <a href="https://cryptoticker.io/en/token/price/ADA-USD" rel="noopener noreferrer nofollow">Cardano price</a> has moved significantly higher again in recent weeks. The rise followed a very bearish 2022 and a varied 2023. A bullish <a href="https://cryptoticker.io/en/token/price" rel="noopener noreferrer nofollow">crypto market</a> could help the ADA token to see strong gains in the coming months. We want to give 3 reasons why the Cardano price can reach a new all-time high in the medium-term future. <img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/cardano_keycap_press_button_close_up_crypto_currency_3d_illustration_render_Easy_Resize_com_00da3884a4.jpg" alt="Cardano price">
The Cardano price has seen a significant rise in recent weeks. We are seeing massive gains, especially in March. The ADA price rose from $0.58 to over $0.80 within a few days.
After the bull market in March, the ADA price fell back to $0.44 by mid-April, and the Cardano price fell again to $0.31 at the beginning of August. And since then it has been trying to recover and overcome the $0.40 resistance level. Despite the recent drop, the Cardano price is almost double what it was last October.
<figure class="image"><img style="aspect-ratio:1400/756;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/ADAUSD_2024_10_04_1_Y_8b83be1627.png" alt="Von TradingView - ADAUSD_2024-10-04 (1Y)" width="1400" height="756">
 <figcaption><a href="https://www.tradingview.com/symbols/ADAUSD/?aff_id=127958" rel="noopener noreferrer nofollow">From TradingView - ADAUSD_2024-10-04 (1Y)</a>
 </figcaption>
</figure>
<h2 id="why-could-the-cardano-price-hit-an-all-time-high-soon">Why could the Cardano price hit an all-time high soon?</h2>
The Cardano all-time high is $3.10. This value could definitely be surpassed within the next 2 years. What are the reasons for this?
<h3 id="1-the-bitcoin-bull-market-is-just-beginning">1. the Bitcoin bull market is just beginning</h3>
The <a href="https://www.tradingview.com/symbols/BTCUSD/?aff_id=127958" rel="noopener noreferrer nofollow">Bitcoin price has risen massively by over 123% in the last 12 months</a>. This has enabled Bitcoin to outperform Cardano and most other altcoins. However, this is the first phase of a <a href="https://www.tradingview.com/markets/cryptocurrencies/prices-all/?aff_id=127958" rel="noopener noreferrer nofollow">cryptocurrency</a> bull market, the phase after the halving. The strong altcoin bull runs usually follow after the <a href="https://cryptoticker.io/en/bitcoin-halving-is-the-impact-already-priced-in" rel="noopener noreferrer nofollow">Bitcoin halving</a>.
<figure class="image"><img style="aspect-ratio:1743/829;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/Von_Trading_View_BTC_Performance_Overview_249ee2e98b.png" alt="Von TradingView- BTC Performance Overview" width="1743" height="829">
 <figcaption><a href="https://www.tradingview.com/markets/cryptocurrencies/prices-all/?aff_id=127958" rel="noopener noreferrer nofollow">From TradingView- BTC Performance Overview</a>
 </figcaption>
</figure> <img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/Bullenmarkt_8b0d5bb17e.jpg" alt="Bitcoin bull market">
The <a href="https://www.tradingview.com/symbols/ADAUSD/?aff_id=127958" rel="noopener noreferrer nofollow">Cardano price</a> could therefore rise extremely sharply, especially at the end of 2024 and in 2025. This could lead to the ADA token rising even more sharply than the Bitcoin price during this period and thus reaching an all-time high.
<h3 id="2-cardano-is-extremely-volatile">2 Cardano is extremely volatile</h3>
<a href="https://cryptoticker.io/en/is-xrp-after-acquittal-unstoppable" rel="noopener noreferrer nofollow">Among the major altcoins</a>, Cardano is considered one of the most volatile. In bear markets, it sees losses of over 90%, while in bull markets it can rise massively. We have already seen this in the last cycle.
It would therefore not be surprising if the ADA price were to rise extremely sharply again in the next 12 to 24 months, ideally to a value of 5 to 10 dollars.
<h3 id="3-further-development-of-the-cardano-network">3. further development of the Cardano network</h3>
In the past, the Cardano network was still under development. In recent months, intensive work has been carried out, particularly on the scalability of the network. This means that the Cardano network can run applications such as <a href="https://cryptoticker.io/en/nft-guide" rel="noopener noreferrer nofollow">NFTs</a> or <a href="https://cryptoticker.io/en/what-is-defi" rel="noopener noreferrer nofollow">DeFi</a> more efficiently. <img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/cardano_blockchain_platform_1_Easy_Resize_com_4debee8990.jpg" alt="Cardano price">
This effect should play out in the bull market. Cardano's potential is very high, as it has hardly seen <a href="https://cryptoticker.io/en/solana-price-prediction-bull-or-bear-october" rel="noopener noreferrer nofollow">any hype at the moment compared to Solana</a>, for example. Cardano may therefore rise to its all-time high in the coming months.

3 Reasons Why Cardano Could Soon Reach Its All-Time High Again

Table of Contents

CryptoTicker ENG

Other articles published on Oct 7, 2024

Lucky Investor Gains Millions by Betting on Popcat Token

Coinbase to Delist Non-Compliant Stablecoins in EU by December

Ripple (XRP) Rebounds From $0.5 But Struggles To Break Beyond Current Range

A Guide to Web3 Development in 2024 on Conflux Network

Buterin Donates 100 Ether to Legal Defense Fund of Tornado Cash Dev

Bitget Becomes LaLiga’s Official Cryptocurrency Partner in $10M+ Deal

Join our free newsletter for daily crypto updates!