Earlier this year, many cryptocurrencies, including Bitcoin (BTC), recovered strongly from the 2022 bull market.
However, Cardano (ADA) lagged behind for a long time and in October even fell to the same price as at the turn of the year: around 0.24 US dollars. But from mid-October, ADA finally began its long-awaited race to catch up.
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ADA price rises 170% in 2 months
The ADA price fell as low as $0.239 on October 19th, which coincidentally is around the same price as at the turn of the year. As a result, ADA did not perform particularly well in the first 10 months of this year and lagged behind many of its competitors.
That started to change around October 20th and the ADA price started rising faster and faster. Less than two months later, on December 9th, ADA peaked at $0.647. That’s an increase of a whopping 170% in just seven weeks.
What would 1,000 euros of Cardano have brought me?
This means that if you invested 1,000 euros in Cardano at the beginning of this year or in mid-October, your stake has already increased by 170%. In other words: you would now own 2,700 euros in ADA. That’s almost three times your investment in less than two months.
The last time ADA reached this high was during the Terra crash (LUNA) in early May 2022. Since its peak of $0.647, ADA has fallen to $0.592, a decline of about 8.5% in the last 24 hours corresponds. Even in a bull market, prices never rise in a straight line.
Despite the strong rally, ADA is still deep in the bear market at this price. The price reached one in the 2021 bull market All-time high (ATH) starting at $3.09. The current price of $0.59 is more than 80% below this ATH. However, this could also mean that Cardano has a lot more room for recovery.
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