ADA is one of the most promising cryptocurrency of 2018. It was even within the top 5 cryptocurrencies based on the Weiss cryptocurrencies rating. However, it was on a continuous decline since its ATH of around $1.4 on Dec. 2017.

It is now trading at around $0.30 apiece, which is roughly -78% from its ATH. It is also one of the biggest losers from the top 10 cryptocurrencies based on market cap. at the beginning of March.

Before we analyze why this happens, I'll first show you a quick preview of what ADA is.

ADA is the product of the Cardano Foundation. Cardano Foundation is based in Switzerland and is an independent standards body. Their core responsibilities are to support the community of Cardano users and to work with authorities on regulatory and commercial matters.

As stated in their website:

This is the first blockchain project to be developed from a scientific philosophy, and the only one to be designed and built by a global team of leading academics and engineers.

ADA's development is headed by IOHK (also the developer of ETC). IOHK is a world-class engineering and technology company which holds the contract to develop the Cardano platform until 2020. Aside from IOHK, the team that is developing ADA is comprised of individuals with PhDs from known universities and individuals with stellar credentials.

ADA's road map and whitepaper is one of the most detailed and impressive plans and cryptocurrency studies I have seen.

Below is a quick preview of ADAs road map:

I will not go into detail of the road map and whitepaper as it is very extensive. Those who wish to view the papers, please click the links below:
Road map
White papers

ADA was released last Oct. 2017 and was listed on binance and bittrex shortly after.

Now, why is ADA's price dipping?

When ADA was released, it was only a speculative coin based on the list of involved entities, road map and whitepaper. If you read those papers, you can see how impressive the plan for this coin is aside from the impressive lineup of developers. That made ADA increase its value ahead of its achievements. However, despite of the short time span of development, people are getting impatient on the actual implementation of the promises of ADA.

Prediction

Looking at the chart, if the current counting is correct, the consolidation is about to finish and is set to bounce back up hard. Take note that the closer the lower limit value to the corner of the wedge is, the higher the bounce of value is. Thus, after the completion of the corrective wave C, if the price breached 0.00003000 BTC and maintaining the price above it will confirm the bullish pattern. However, breaking the 0.00002300 BTC level and maintaining the price below it will push the price lower.

Disclaimer

This is my personal view and I don't claim it to be a professional financial guide. Your decisions are only controlled by you and only you. Listen to what others say, but don’t believe everything that you hear. Research, analyze, and think. In the end, you can only thank yourself for believing in something that is true. Likewise, you can only blame yourself for believing in something that is false.

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