cryptodailytrading.com

Cardano Price Prediction [UPDATE]: Reasons Why 2019 Will Be Good for Cardano

  • Jack Thomas
    🤷 Opinions

    Cardano has been touted as the Ethereum killer and is starting to prove it has what it takes, meaning 2019 could be a good year for it


Cardano Price Prediction [UPDATE]: Reasons Why 2019 Will Be Good for Cardano
You may also like:
Contents

Cardano has shown that it is a real contender in terms of competitive cryptocurrencies and is only gaining in its growth and potential. Does that mean 2019 will be the year that Cardano’s price explodes and overtakes Ethereum?

Cardano was born in part from former Ethereum co-founder Charles Hoskinson and was created in order to take smart contracting on the blockchain further. Cardano has openly expressed that it wants to overtake and ‘kill’ Ethereum.

With Ethereum also having a rather bad 2018, slumping in its own growth and adoption, there has come a perfect time for Cardano to launch its attack and potentially push to dethrone Ethereum.


If this was to be the case, with the positives that are happening around Cardano, there would no doubt be a boost in its price, and the price prediction surrounding the coin would need updating for 2019.

👉MUST READ Charles Hoskinson: Shifting the Blockchain Tradeoff Profile for the Entire Industry
 Charles Hoskinson: Shifting the Blockchain Tradeoff Profile for the Entire Industry

Showing potential

Like many other coins, Cardano reached new heights back in January of 2018 where it topped at being valued at over $1. However, its price today has fallen far, dropping down to as low as $0.04.

That being said, many coins are taking this time to consolidate and build their project rather than the hype and speculation around them. They are thus starting from the ground up, beginning with their algorithms.

They have developed three algorithms with modifications called Ouroboros, Ouroboros Praos, and the latest being Ouroboros Genesis.

Ouroboros is the first ever mathematical protocol that has proven to be secure and also the first ever to have gone through a peer review in its acceptance to crypto last year.

Making a move

Furthermore, Cardano has even shifted its base of operation to the much more crypto-friendly state of Wyoming. The governor there has expressed his admiration of blockchain, and the state has recently put forward some promising bills on blockchain and cryptocurrency classification.

Cardano is also moving its scope and range as it looks to use its technology to help development in Africa. Cardano wants to set up a digital blockchain property register which can identify land using GPS coordinates. Accordingly, the property owner can be verified and the ownership can be transferred at a very minimal cost.

Rwanda has come to accept blockchain technology and digital transformation. They are planning to fix its ledger onto a blockchain system.

Price prediction

It is difficult to see where Cardano’s price will head, especially noting its drop in just over 12 months; however, there is a lot of promise and potential around the blockchain. If they are able to continue growing sustainably and with a solid base, there is a strong chance they could become preferred over Ethereum in certain regards.

If Ethereum does not start stepping up its own game with the likes of its move to a proof-of-stake protocol, something Cardano already has, then there will be a big gap in the market for one of Ethereum’s rivals to step in.

Subscribe to the official U.Today Telegram channel. Get news first!
👓 Recommended articles

XRP Price Surging in Bullish Trend: Did Forbes 50 List Boost Ripple to Be Taken Seriously?

  • Jack Thomas
    🤷 Opinions

    XRP is seeing some good gains, but could it be because Forbes has listed it among other major billion dollar companies in blockchain?


XRP Price Surging in Bullish Trend: Did Forbes 50 List Boost Ripple to Be Taken Seriously?
You may also like:
Contents

Ripple, and its XRP token, have always had a hard time being taken seriously by the Bitcoin maximalists and other ‘true’ crypto aficionados. The company has been focused on partnering with banks, which has been for a long time the scourge of the crypto market.

However, there has been a change in the sentiment around cryptocurrency and blockchain, with media houses like Forbes calling 2019 the year of enterprise blockchain, and one of rebuilding after the speculative boom and bust in 2017/2018.


Forbes has now produced a prestigious list of 50 enterprise business valued over $1 billion that are doing good things with blockchain and crypto, and Ripple is one of the few startups that are on the list. Ripple finds itself in the company of businesses like Microsoft, IBM, BP, Amazon and other multinational conglomerates.

A reputation boost?

So, while XRP and Ripple have been mostly viewed with suspicion within the cryptocurrency community, it could be that their appearance to the mainstream through the lense of Forbes is a lot better and brighter.

The blockchain list by Forbes is intended to inform about how much enterprise use of blockchain is actually going on from major companies, and some companies many would never have thought were involved in the technology.

There is no doubt that it is a boost for the technology underpinning cryptocurrency, but it would seem that even the XRP token is receiving a boost from this unearthing of institutionalised interest.

Price prediction?

This legitimizing boost has been reflected in XRP’s increase in value of over six percent, but looking ahead, it appears as though there is chance for a bigger boom.

This upwards move firmly established XRP’s support level around $0.32, so one analyst believes that it may continue surging towards $0.48 in the near-future.

Ryan W, a popular cryptocurrency analyst, spoke about this possibility in a recent tweet, noting that XRP does face resistance levels at $0.38, $0.44, and $0.50, but also explaining that he expects the crypto to garner enough upwards momentum to break above at least two of these resistance levels with a price target set at $0.48.

'Open your world on blackboard with businessman wearing boxing gloves' image by ru.123rf.com
In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.
👓 Recommended articles