Cardano Price Prediction: Will ADA Survive As One Of The Few Cryptocurrencies?

The crypto market is still at the bottom and has seen a huge price drop this year. Many cryptocurrencies have lost 80 percent of their value year over year, and some altcoins have been hit even harder. Even the top cryptocurrencies such as Bitcoin and Ethereum were not spared and fell by 75 percent and more.

This year has also been particularly negative for Cardano buyers. The ADA/USD coin recently fell to lows below $0.3, from a little over a year ago the token was valued ten times as high as around $3.

Cardano’s manager sees a parallel with the dot-com bubble

What this situation means for investors. Is now a good time to buy Cardano? Is it a one time chance to get ADA tokens at such a discount before the prices go up again? Or is the worst yet to come?

Jerry Fragiskatos, Chief Commercial Officer at Cardano Developer Input Output Hong Kong (IOHK), was very critical of the future of the entire crypto market. He compares the development of cryptocurrencies to the development of internet companies in the 1990s.

At that time, many startups from the dot-com era had real hype. Companies hit crazy valuations and stock prices soared, even though there was little underlying reason behind the market reaction.

Another major crypto crash is about to happen

In fact, many of these hyped startups were unable to build a sustainable business and stay in the black. Only general euphoria drove prices up. But that didn’t go well for long. In March 2000, prices plummeted and many investors lost their entire capital. We are talking about the dot-com bubble.

Fragiskatos now sees a similar situation coming to the crypto market. Speaking to crypto analyst Scott Melker at a conference in Manhattan, the manager said that cryptos could be somewhere between 1999 and 2000 right now. If Fragiskatos is correct in his assumption, it could well be that the big bang for the market is yet to come.

Will many cryptocurrencies disappear?

However, the manager of IOHK does not assume that all cryptocurrencies will be lost. Here, too, he draws parallels with the dot-com bubble and the development of the stock market.

Some companies like Apple or Microsoft are now more successful than ever. There are also others that are very successful today, such as Amazon and Alphabet. But many other startups in the dot-com era have long since disappeared because they were unable to develop a viable business model.

Fragiskatos now expects such an option for the crypto market. A side project to Bitcoin that he believes will probably survive is Ethereum. The altcoin has a special market position for the mass adoption of its blockchain for various applications such as DeFi or NFTs.

Will Cardano survive like Ethereum?

In addition, not surprisingly, the manager also believes that ADA, the native token of the Cardano network, has a future. He blames Cardano’s ecosystem for distinguishing it from other blockchain projects.

Fragiskatos explained this to Melker: “Another big differentiator of Cardano is that there aren’t many people in it. If you look at the distribution of ownership of ADA, it is primarily individuals. There are very few whales, very few people inside. There was no VC taking 30%, 40%, 50% of it. The VCs who say: Where is my ROI next year? Excuse me, where is my ROI the other quarter?”

Jim Cramer is also currently very critical of the future of the crypto market. The host of the CNBC Mad Money points out that investors in the crypto market still have time to “sell their terrible positions”. Cramer doesn’t believe the crypto winter is over yet, but he sees the market falling much lower.

We were not surprised at all #dotcom bubble. New ATHs were never made. pic.twitter.com/QteJPpKUqy

— 18 decimals (@Linklevosstwins) December 6, 2022

CNBC host sees Cardano drop to $0

Cramer specifically mentioned the cryptocurrencies Cardano, Ripple, Dogecoin and Polygon, which could fall to zero. He attributed this to the fact that this was not yet the case for artificial bladders. “There’s still a whole crypto booster industry that’s desperate to keep all these things up in the air — not too different from what happened to bad stocks during the dot-com crash.”

So Cramer’s view is similar to Cramer’s view Fragiskatos, except with the difference that the moderator doesn’t see any future for Cardano either.

However, Cramer’s statements should be questioned critically. Because the moderator does not need to have a good reputation in the crypto industry. In 2017 he first came out with the statement that Bitcoin could rise to a million dollars in the future. However, that was before prices fell in 2018. A short time later, he presented himself as a major opponent in digital currency and used the term “illegal currency).

The anti-oracle: will prices explode now?

With prices rising again in 2020, he turned back into a Bitcoin fan and announced that he would buy Bitcoin himself. Now, faced with the fall in prices, Cramer appears to have completely repudiated his position. This back and forth certainly does not seem very credible to experienced industry representatives.

In the past, Cramer has also often been wrong with his forecasts. In September 2021 he called for the sale of cryptocurrencies, but many cryptocurrencies reached new record prices 2 months later. And in early 2022, when Bitcoin was still well above $40,000, he said the correction could be over. It is well known what followed.

Some investors now see Jim Cramer as an anti-oracle who always predicts exactly the opposite of what will happen in the end. Buyers of ADA and other cryptocurrencies can expect that the moderator is also wrong with his new forecast of the market’s future.

Another option: Dash 2 Trade is now still available in pre-sale

The new Dash 2 Trade platform provides clients with important trading signals, crypto news and other indicators. The token is still in the pre-sale before it should be regularly listed on the first trading exchanges in the coming months. This gives early investors the advantage of getting D2T tokens very cheaply. D2T can be purchased in advance for $0.051. However, 70 percent of the stocks have already been sold out. That’s why it’s not worth waiting too long.