Cardano (ADA) is currently the eighth-largest cryptocurrency by market cap, and is one of the most popular cryptocurrencies, boasting a large community.
Cardano has surged significantly in the past month, showing about a 61% surge from last month to its current price of $0.6209. The question on the community’s mind is if ADA can maintain this momentum.
Read Also: Cardano (ADA) Price Forecast: Analyst Sets Price Target For Next Bull Run, with Key Factors
However, with the Bitcoin halving coming next year, there is a more pressing question about how Cardano (ADA) will react. The halving has historically been a precursor to massive surges in the crypto market, and the excitement for the event has sent shockwaves and price surges throughout the crypto market already.
To gain insight into Cardano’s future, we consulted Bard, Google’s AI Chatbot. Based on various scenarios of Bitcoin’s performance, Bard predicted ADA’s price could reach between $0.75 and $2.50, depending on the strength of the Bitcoin rally.
Scenario 1: Moderate Surge (20-40% increase)
In this scenario, if Bitcoin experiences a moderate surge of 20% to 40%, Bard predicts Cardano would respond positively, with its price potentially trading between a low point of $0.75 and a high of $1.20.
Scenario 2: Strong Surge (50-70% increase)
If Bitcoin experiences a stronger surge of 50% to 70%, Bard predicts Cardano could see even more impressive gains. In this scenario, the AI model forecasts a low price of $1.00 and a high of $1.80 for ADA.
This surge represents a potential 3x increase from its current price. Unlike XRP, Cardano remains correlated to Bitcoin, which could give it an edge when Bitcoin begins its usual post-halving rally.
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Scenario 3: Bull Run (100% or more increase)
Should Bitcoin enter a full-blown bull run with a 100% or higher increase, Bard predicts Cardano could reach even greater heights. The AI model suggests a low price of $1.25 and a high of $2.50 for ADA in this scenario.
Read Also: Based On Bitcoin Halving and A Key Factor, Analyst Predicts 2,700% Cardano (ADA) Rally To $11
Although this price is below Cardano’s all-time high of $3.10, this would be a monumental jump for Cardano and solidify its position as a major player in the cryptocurrency market.
While these predictions offer a glimpse into what might be possible, the market remains unpredictable. ADA could go much higher or fall much lower. However, Cardano’s strong community, active development, and growing ecosystem suggest it is well-positioned to benefit from a rising tide in the cryptocurrency market.
With the Bitcoin halving and other developments coming, the new year is expected to be interesting for the crypto market.
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