While Cardano (ADA) wallows below a dollar, prominent entities alongside AI tools Google Bard and ChatGPT have projected ADA breaking past the $1 and going further into the double-digit realms.
Like many cryptocurrencies, Cardano suffered a significant impact from the ongoing market downturn. Currently trading at $0.4739, ADA has witnessed a 9.85% decrease from its peak of $0.5226 on January 18.
Moreover, the asset has sunk from a peak of $0.6036 in the last 30 days to a low of $0.4544.
Although ADA currently displays minimal signs of recovery, notable entities, including AI tools like Google Bard and ChatGPT, anticipate ADA surpassing the $1 mark and potentially entering double-digit territory.
ChatGPT Timeline for Cardano to Hit $6
According to ChatGPT’s analysis, Cardano is anticipated to attain a price range of $5 to $6 by the conclusion of 2024. ChatGPT supported the ambitious targets by emphasizing the expanding Cardano ecosystem.
Significantly, this forecast exceeds ADA’s peak of $3.10 in 2021. Given the asset’s current value of approximately $0.4723, a surge to $6 would represent a growth rate of 1,170%.
Meanwhile, ChatGPT emphasized that the projection is merely speculative. Yet, it suggested a price range of $3 to $4 in a less favorable market scenario.
Google Bard Timeline for ADA to Hit $1.46
According to Google Bard, Cardano could peak at $1.46 this year. Moreover, it suggested an average price projection of $1.29.
As a backing, it noted the consistent efforts of developers to introduce new products to the ecosystem.
However, adopting a more pessimistic outlook, Google Bard warns that Cardano’s value could potentially plummet to as low as $0.4040 by 2024 end.
Timeline for Cardano to Rally $7 to $11 as Analysts Estimate
Furthermore, ADA has similarly garnered optimistic projections from at least three prominent analysts: Ali Martinez, Dan Gambardello, and Ben Armstrong.
Their forecasts indicated a potential rally for ADA, with price targets ranging from $7 to $11.
Ali Martinez banked on ADA’s current consolidation phase, closely reflecting the periods just before the asset experienced an explosive rally from about $0.09699 to an all-time high of $3.1.
In particular, Martinez pointed out that ADA consolidated for 667 days previously and embarked on a 2,984% rally within a year. Now, the asset has so far stayed 664 days in consolidation.
As a result, Martinez foresees ADA repeating history, placing a target of $7. However, his analysis suggested Cardano could hit the target around 2025 and beyond.
Acknowledging the accuracies of Martinez’s analysis, Ben Armstrong proclaimed a target price of $11.
Armstrong believes the $11 threshold is attainable this bull season, a sentiment renowned analyst Dan Gambardello vouched for.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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