Over the past few days, we have seen devastating losses in the crypto market. The FTX crash did not stop at Cardano’s ADA token, which lost 20 percent and thus saw losses similar to those of the other altcoins. How is Cardano (ADA) looking for the next few weeks and what is a conservative forecast? In this article, we take a look at the Cardano forecast for the following weeks after the crash and see if a recovery is likely.
Is Cardano Price Down?
In the last few days, we have seen heavy losses in ADA prices. The price of the Cardano network token has fallen by around 20 percent in the last 7 days. These losses are similar to Bitcoin’s losses and the average across the crypto market.
The loss was mainly triggered by the crisis at FTX. After the sharp price drops, the ADA is still in the top 10 cryptocurrencies by market capitalization in 9th place. It is now just behind Dogecoin and just ahead of Polygon (MATIC). The losses are limited, especially compared to Solana, which has lost almost 60% in the last 7 days.
How does the FTX crisis affect Cardano forecast?
Due to the crisis at FTX, the entire crypto market has suffered heavy losses in the past few days. However, as we mentioned before, Cardano’s losses are lower than many other cryptocurrencies and similar in size to Bitcoin and Ethereum.
Trust in the ADA token does not appear to have been massively disrupted. In the last 1-2 days the price stabilized again. Although the crash damaged the Cardano forecast for the end of 2022, it did not bring the ADA to its knees massively. Further stabilization and even a price increase in the coming weeks are still possible.
What is the Cardano (ADA) forecast for the next few weeks?
The ADA token has fallen sharply over the past week. We previously made before the FTX crisis, very unrealistic. We still assumed stronger increases towards the end of the year. A massive loss in November and December seemed unlikely. But unexpected events can always throw the crypto market off track.
Nevertheless, stabilization and even a slight increase should not be ruled out in the next few weeks. In our Bitcoin forecast, we mentioned that the external factors influencing the crypto market have even improved over the past few weeks. Thus, a Bitcoin recovery could also trigger a Cardano recovery.
How high can ADA go?
The Cardano (ADA) course should be able to stabilize again in the next 1-2 weeks. The FTX crisis was a massive shock that triggered a lot of panic selling. But this also took massive pressure off the market. The prices are so low at the moment that additional purchases should become extremely attractive for many investors after a short-term stabilization.
November and December are considered more bearish months in the market. Nevertheless, in the next few weeks until the end of the year, we see a sideways movement in our Cardano forecast and possibly a slight recovery in the ADA price. Therefore, we assume a Cardano forecast of $0.32 to $0.46 by the end of 2022.
Is Cardano a Good Investment?
At the moment there is a lot of uncertainty on the market and many investors have doubts as to whether an investment could be worthwhile now. A further drop in prices is definitely not excluded. However, it seems likely that we could see prices rally again after a period of stabilization.
By the end of the year, the ADA price could rise again slightly, which our Cardano forecast shows. Above all, we can hope for the year 2023, since another bullish phase could follow there. The year 2019 in the last bear market also showed rising prices 4 years ago. Therefore, an investment in the ADA token could be worthwhile right now at these low prices.
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Source: https://cryptoticker.io/en/cardano-forecast-whats-next-for-cardano-price-after-the-crypto-crash/