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In the aftermath of November's remarkable 28.4% surge, Cardano (ADA) enthusiasts are eagerly anticipating a potentially festive December for the popular altcoin.
Having reached its highest price since May 2023, Cardano has captivated enthusiasts, who are now speculating on what lies ahead in the new month.
Data from CryptoRank paints an optimistic picture, indicating an average monthly return of an impressive 67.5% for Cardano in December. The ADA token's history reveals a standout performance in the last month of 2017, with a staggering 517.1% increase in value — an all-time high in its nearly seven-year existence.
However, a closer look at the data unveils a complex narrative. Over the past two years, Cardano has shown significant fluctuations, experiencing depreciations ranging from 16% to 23%.
Notably, the fourth quarter has seldom closed on a positive note for ADA, with only two instances of such occurrences recorded in 2017 and 2020. Despite this historical trend, the current value for the last three months of 2023 boasts a promising gain of 49.8%.
"Uncertainty is the only certainty there"
It is crucial to acknowledge the unpredictable nature of the crypto market, where surprises are par for the course even for seasoned investors. With 30 days left in the month, the sustainability of this gain until the quarter's end remains uncertain.
Regardless of the outcome, the Cardano price scenario stands out as one of the most compelling among the market's giants. As the crypto market's old-timers would attest, the only certainty is uncertainty, making Cardano's journey in December one to watch closely.
Tomiwabold Olajide
