Cardano: positive forecasts for the price of ADA awaiting the hard fork

Some decidedly optimistic forecasts are starting to circulate for the price of ADA, the native crypto of the Cardano ecosystem. 

The price of ADA suffered for a long time during the bear-market of 2022, and in the following years, but it woke up in November after Trump’s electoral victory. 

Now some important news is being announced, and there are those who believe that the price could rise further. 

The forecasts on the price of ADA (Cardano)

According to a Coincodex prediction, in the next 30 days the price of Cardano cryptocurrency could rise above $2.

Note that the current all-time high is the $3.1 reached in November 2021 during the full bull, so the forecast at $2 is not absurd. 

It should, however, be added that not all analysts agree with this forecast. 

During 2022, the price of ADA plummeted to $0.4, and then fell below $0.3 in 2023. 

Although during 2024 it had attempted a first significant rebound, before the electoral victory of Trump it was still below $0.4.

Subsequently, it quickly rose to $0.6, then pushed first to $1 and then to $1.2 when news spread about the resignation of Gary Gensler as chairman of the SEC. 

In fact, one of the reasons for the difficulties of 2023/2024 was precisely linked to the anti-crypto campaign by Gensler’s SEC, which accused ADA of being an unregistered security.

At the moment it was understood that the SEC would stop pursuing crypto projects like Cardano, it was as if a cork that was preventing the price from rising had been removed.

However, at the end of December, the price of ADA had fallen below $0.9, and even with Gensler’s actual resignation, it is still below $1. 

Good news for ADA and Cardano

The founder of Cardano, Charles Hoskinson, yesterday announced some major changes. 

Source: https://twitter.com/blocknewsdotcom/status/1884705174549389616

First of all, it announced the arrival of a layer-2 that should improve the scalability of the Cardano blockchain and reduce the fees. 

He also announced a review of the consensus to make transactions faster.

New tools for developers and some updates to smart contracts are also on the way, including Hyperledger Identus, which will bring decentralized identity support into the real world.

Furthermore, it will be possible to increase the level of privacy on Cardano, thanks to zero-knowledge proofs, allowing private transactions compliant with regulations. 

The interoperability of the Cardano blockchain with other blockchains has also been announced, particularly with that of Bitcoin. 

Finally, regarding decentralization and the evolution of governance, the Voltaire era will give ADA holders full control over the future of Cardano thanks to on-chain voting and the introduction of a new treasury system with community-driven funding decisions.

The evolution of Cardano

It is necessary, however, to make an important clarification. 

Since the Cardano project was born in 2017, it has already seen several technical evolutions. In fact, it has continued to evolve over time, practically without ever stopping. 

Instead, the trend in the market price of ADA has followed a distinctly different path. 

The point is that the price of ADA is strongly influenced by the speculative bubbles that occasionally inflate in the crypto markets. 

For example, before the bull of late 2017/early 2018, its price was about $0.03, and after the burst of that bull it actually went back below $0.04. 

A similar thing happened in 2020/2021, with the price rising to $0.10 before the second speculative bubble began to inflate, and then subsequently falling below $0.25 during the subsequent bear-market. 

During the two bull markets, the price of ADA followed a pattern very similar to pump&dump schemes, and it is not at all possible to rule out that something like this could not happen again in the future. 

Net of the bubbles, the price went from $0.03 in 2017 to $0.10 in 2020, and then to $0.30 in 2024, passing through three peaks respectively of $1, $3.1, and $0.75. 

In light of this, there are even those who imagine that a new bubble could inflate, which not only could lead the price of ADA to record new highs, but perhaps even to $10. 

Source: https://twitter.com/LucidCiC/status/1884450931846308109

However, it will be the crypto market to decide, and it is unlikely that the price trend of Cardano can follow a different path compared to the general one of the crypto markets.