Following the thrilling 15.4% spike in October, fans of Cardano (ADA) are now preparing for a bumpy ride into November. After the well-known cryptocurrency hit its highest price since August, investors are curious and ready for more.
What does this digital asset have in store for the upcoming month, though?
CryptoRank’s historical data presents a nuanced picture. The Cardano cryptocurrency has had an amazing 43.5% average monthly return in November, based on price history. On the other hand, a more conservative forecast, the median monthly return, is indicating a decline of -2.5%.
Examining the history of ADA, we see a range of results. Only one November in the previous five years—three years ago—ended favourably with an astounding 84% increase. Given this historical background, holders of ADA are considering two possible outcomes for November: either a sharp rise of 43.5% to $0.41 per token or a decline to $0.279 per ADA.
However, in the uncertain and wild world of cryptocurrency trading, these figures provide interesting but not entirely reliable advice. Because there is a chance of a worldwide recession on the one hand and positive news on the other, the current situation is still fundamentally uncertain.
There’s one thing for certain: the actual course of ADA’s November adventure will only become clear with time.
