Although the price of Cardano (ADA) has suffered due to recent volatility in the cryptocurrency market, a major milestone in the network’s roadmap is fast approaching and leading machine learning and artificial intelligence (AI) models are largely optimistic.
In fact, the Cardano network is preparing for the Chang hard fork, a massive upgrade that is expected to bring significant changes to the mainnet structure, including the introduction of mechanisms for user participation in the governance of the blockchain. It will take place on September 1st. According to the Cardano Foundation:
“This will be the first step towards a minimally viable community-driven governance structure outlined in CIP-1694. This means that the Cardano community will be responsible for maintaining and shaping the blockchain network.”
As a reminder, CIP-1694 refers to the Cardano Improvement Proposal, which is the focus of the upgrade. It introduces various governance features to the ecosystem and puts governance in the hands of Cardano’s Constitutional Committee, dReps, and Stake Pool Operators (SPOs).
Price predictions’ Cardano Price Prediction
So how high can Cardano go? According to the advanced AI algorithms of the crypto prediction platform Price predictionsAccording to the information retrieved on August 28, Cardano could reach the price of $0.364404 on September 1, 2024, the date of the Chang hard fork.
In other words, Cardano could rise by 1.66% from its current price, assuming that the predictions based on technical analysis (TA) indicators such as Bollinger Bands (BB), Moving Average Convergence Divergence (MACD), and Average True Range (ATR) hold true.
At the same time, Meta Platforms’ (NASDAQ: META) AI assistant, Llama 3.1, has indicated a possible price range for Cardano during the upcoming Chang hard fork. between $0.37 and $0.42 short term and between $1.03 and $4.50 in the long term, based on analysts’ forecasts. Specifically:
“Given the recent 18% increase in ADA price to $0.39 and subsequent drop to $0.36, as well as the delayed announcement of the Chang hard fork, there is a possibility of a brief price dip. However, with upcoming updates including the release of Node 9.0 and the anticipated Chang hard fork, ADA is well positioned for significant growth.”
Cardano price prediction by ChatGPT
Meanwhile, ChatGPT-4o, the brainchild of OpenAI, has put forward its own Cardano price prediction targets during the Chang hardfork, arguing it could push ADA back to around $0.39 – $0.42 if the September upgrade goes smoothly, citing analysts who expect short-term gains while the market adjusts.
In addition, it lists specific long-term forecasts from certain expert platforms, including:
ADA Price Prediction on Google Gemini
Finally, Google’s (NASDAQ: GOOGL) generative conversational AI innovation, called Google Gemini, has listed three scenarios for Cardano’s potential price after the launch of the Chang hard fork based on market sentiment, adoption and use cases, TA, expert opinions, and AI predictions, including:
Cardano price prediction by analysts
Elsewhere, crypto analyst Alan Santana has opined that Cardano could see a staggering 2,222% surge and potentially hit new all-time highs (ATHs) by 2025 after what he believes was a “minor correction” in recent weeks, as Finbold reported on August 22.
ADA Price Analysis
Currently, Cardano is trading at $0.35844, down 1.82% in the last 24 hours, with a gain of 1.71% in the last seven days and a loss of 13.09% on the volatile monthly chart (data as of August 28).
All in all, the Cardano price prediction for the next bull run could reflect the optimistic sentiment surrounding the Chang hard fork. However, when investing, it is important to do your own research and risk analysis as trends in the crypto market can change unexpectedly.
Disclaimer: The content of this website does not constitute investment advice. Investments are speculative. When you invest, your capital is at risk.
