TL;DR
- Analysts remain optimistic about Cardano’s ADA, predicting serious gains throughout the ongoing year.
- Predictions include potential short-term targets of $1 and even higher values, influenced by upcoming market events like the Bitcoin halving.
Is It Time for ADA to Shine?
Cardano’s ADA has performed quite well in the last quarter of 2023, with some analysts envisioning an even greater rally throughout 2024.
The host of the educational YouTube channel Coin Bureau is among the bulls. In one of his most recent videos, he outlined Cardano’s developments, setting a short-term target of $1.
The X (Twitter) user Lucid highlighted Cardano’s technology, blockchain, and community and predicted a price tag of $10.
The popular cryptocurrency analyst Ali Martinez also gave his two cents, arguing that ADA’s value trajectory has mirrored the 2018-2020 cycle.
“If this trend continues, we might see ADA consolidating around its current levels until April, setting the stage for a potential resumption of the bull run,” he added.
Recall that April will witness the Bitcoin halving – an event that has historically been followed by a BTC rally. Altcoins tend to follow the trajectory of the primary cryptocurrency, meaning that ADA could also be among the winners.
Last year, Dan Gambardello – Founder of Crypto Capital Venture – and the X user Tyler Strejilevich laid out even more bullish forecasts. The former claimed that the BTC halving would boost ADA’s price to $11, while the latter predicted a whopping 6,000% increase within the next 60 weeks.
Those curious to dive deeper into the matter could take a look at the ADA price bets featured in our dedicated video below:
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