Is it Too Late to Invest in Cardano (ADA)?
As the majority of assets in the cryptocurrency market take a bullish turn, Cardano (ADA) is no exception, recording increases on all of its charts and getting very close to surpassing the psychologically important price threshold of $0.40. So, is it already too late to invest in it?
Indeed, Cardano has been on a consistent upward move for the last six consecutive weeks, having grown in value as much as 59% – from about $0.245 on October 12 to the current $0.39, as per the most recent information retrieved by Finbold on November 24.
Data has shown that one out of three Cardano holders, or specifically 36% at press time, were in profit, thanks to the price increases that were the result of optimism created by persistent efforts of the team centered at Input Output Global (IOG) on developing a fully decentralized ecosystem.
That said, Cardano’s present price is a mere fragment of what it could be, considering that at its all-time high (ATH) two years ago, on September 2, 2021, the ninth-largest cryptocurrency by market capitalization was changing hands at $3.09, or 690.28% higher than where it currently stands.
Meanwhile, Cardano’s price at the time of publication represents a 2.25% increase in the last 24 hours, a gain of 6.18% across the previous seven days, and a more significant 39.13% advance in the past month, as its latest charts demonstrate.
Cardano Price Predictions
When considering the timing to invest in Cardano, price predictions could be a useful tool, and artificial intelligence (AI) algorithms see further increases in the future of this asset, including those deployed at the crypto analytics platform CoinCodex, which expects its price to reach $0.8617 in the next three months.
All things considered, the above price action and predictions by crypto experts and AI show that it is not too late to invest in Cardano. However, carrying out one’s own research and weighing risk tolerance before dedicating any significant part of the portfolio to any asset is crucial.
Hot Take: It’s Not Too Late to Invest in Cardano
Cardano (ADA) has been experiencing consistent upward momentum in recent weeks, with significant growth in value. Despite its current price being a fraction of its all-time high, experts and AI algorithms predict further increases for Cardano in the future. It is essential to conduct your own research and assess your risk tolerance before investing a significant portion of your portfolio. So, if you’re considering investing in Cardano, now may be a favorable time.
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