The Cardano (ADA) price has had a rather tough time over the past few weeks. The ADA token has been particularly hard hit by the bear market and more recently by the FTX crash. This is why Cardano even fell to 9th place among cryptocurrencies by market capitalization. Can there be a stronger Cardano crash in the next few weeks and the ADA price even fall to 10 cents?
In this article, we want to discuss the development of the Cardano (ADA) price and see if another crash can happen soon.
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How has the Cardano (ADA) price moved in recent weeks?
The year 2022 has been very difficult for the Cardano (ADA) course. Because in recent months the price has lost a lot. The cryptocurrency has been particularly affected by the bear market. Going back to 2021, around September, we saw a new all-time high for Cardano at over $3.
The price of Cardano fell sharply already in the fourth quarter of 2021. The losses continued in the first half of 2022. In the second half of 2022, many other coins experienced a stabilization. However, this was less the case with Cardano (ADA). The price is currently much lower than in mid-2022.
Over the past few weeks, the price of Cardano has fallen from $0.45 to $0.25. This decline was only briefly interrupted by the altcoin’s rally in late October. But the FTX crash again wiped out that rise. After that, it continued to drop.
Why is the Cardano price doing so badly?
Cardano (ADA) is particularly vulnerable to bear market losses. The price has repeatedly lost value in bearish phases. On the other hand, the gatherings at the ADA are very strong and also durable. Therefore, current developments are initially not worrisome.
We should also mention that the developments at Cardano are still progressing. Following the Vasil update, January will see the launch of DJED, the network’s algorithmic stablecoin. However, investors are not particularly interested at the moment.
Will the Cardano crash happen in the next few weeks?
The bear market has a firm grip on cryptocurrencies right now. Add to that the consequences of the FTX crisis. Many companies, including Binance, are under scrutiny. Confidence in the market has dropped dramatically over the past few months.
In this mixed situation, it is not certain that we will not witness another stronger crash in the market in the coming weeks. Hot off the heels of bitcoin’s breakout attempt in recent days, another stock market crash is now imminent. This could take Cardano seriously.
Can the ADA rate fall to 10 cents?
The Cardano (ADA) price trend is currently very negative. It is entirely possible that ADA will once again fall below the $20 mark. If the crash becomes massive and the price of Bitcoin falls back to the $10,000 mark, then the Cardano price is also threatened with a sharp decline to 10 cents.
The danger of such a price crash is particularly great in the coming weeks. The uncertainty in the market is huge. However, a trend reversal could be imminent in 2023. The year 2019 showed that a second year in the bear market can certainly bring big gains. If the market reverses, we may see Cardano price above $0.50 again in the coming months.
Is it worth starting with the ADA token now?
In the long term, the ADA token is likely to be heavily undervalued. However, there is currently a great danger that prices will collapse again in the coming weeks. However, in theory, we could also have reached the bottom of the Cardano (ADA) bear market.
If you believe in the project, a regular investment per average cost is worth it. If you want to invest once or on an irregular basis, it may be worth waiting a little longer for now. However, should a market reversal occur quickly in 2023, current ADA prices could be very cheap.
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