Following November’s stunning 28.4% increase, supporters of Cardano (ADA) are excited about what may be a celebratory December for the well-known cryptocurrency.
With Cardano’s price hitting its highest point since May 2023, investors are intrigued and making predictions about what will happen in the upcoming month.
An encouraging picture is painted by data from CryptoRank, which shows that Cardano had an amazing 67.5% average monthly return in December. According to its history, the ADA token had an exceptional performance in the final month of 2017, rising in value by an astounding 517.1% to reach an all-time high in its almost seven-year existence.
But a further examination of the data reveals a nuanced story. Cardano has fluctuated significantly over the last two years, with depreciations ranging from 16% to 23%.
Remarkably, ADA has seldom ended the fourth quarter on a high note—just two such occasions were noted in 2017 and 2020. The present value for the last three months of 2023 shows a potential growth of 49.8% in spite of this historical pattern.
“Uncertainty is the only certainty there”
It is important to recognise the erratic character of the cryptocurrency market, where even experienced investors frequently experience surprises. There are still 30 days in the month, so it’s unclear if this increase will hold up until the conclusion of the quarter. Whichever way things turn out, the Cardano pricing scenario is one of the most attractive among the industry’s titans. The only thing known in the cryptocurrency world, as veterans of the field will agree, is uncertainty, thus it will be interesting to follow Cardano’s December adventure
