Discover Cardano's price and timeline of the crypto bull run according to Cardano's popular founder, Charles Hoskinson.
Cardano's price has moved sideways this week as the recent crypto market bull run has come to a halt.
The retreat has raised concerns about whether the $ADA has more upside. Speaking at the Consensus event, Charles Hoskinson provided a timeline for when Cardano and other cryptocurrencies will relaunch.
Cardano price watchers as Hoskinson provides predictions for the next bull run.
Cardano's price today, May 16, trades at $0.784, slightly down from this month's high of $0.862. It is 52% above its low point in April.
Speaking at the Consensus event in Toronto, Hoskinson, the founder of Cardano, predicted that the crypto market bull run is here. However, he warned that the industry would go through a "heartburn" period of two to three months.
"The overall state of affairs is bullish, it's just that we're not where we need to be right now. Macro issues like tariffs will cause irritation for about 2-3 months."
Hoskinson expects the crypto bull run to resume once these issues are addressed. He also believes it will last about six to twelve months.
His Cardano and crypto forecast coincided with the summer months when activity in the industry slows down.
As the chart below shows, June, July, August, and September are generally the worst months for Bitcoin and other altcoins. Bitcoin then typically rises in the final months of the year.
Hoskinson believes the next catalyst for Cardano's value will be the Midnight Project, which is now in development. Midnight is a zero-knowledge sidechain aimed at providing a secure way to handle sensitive personal data.
One use case for Midnight would be its integration with Bitcoin, which would allow BTC holders to generate an annual yield in a secure environment.
In a statement, they said Knight and Disk tokens will be broadcast to millions of users across eight blockchains, including Cardano.
This airdrop likely explains why Cardano wheels are collecting coins. As the chart below shows, accounts with 10 million to 100 million coins increased their holdings to 12.93 billion, down from 11.97 billion in January.
Technical analysis of ADA price confirms Haskinson's views.
The weekly chart shows that the $ADA value is trending upward since July 2023. It has been above the 100-week moving average, which has served as a good support level.
Cardano's price has also formed a large megaphone chart pattern, consisting of two ascending and reversing trends.
The upper side connects the highest swings since April 2023, while the lower ones connect the lower highs since July of this year.
So, the heartburn that Hoskinson is talking about will likely result in it bottoming out in the next few months, and then the bull run will resume.
This ADA price forecast implies a potential downside of $0.4 and then a rebound to $2 and above in the fourth quarter.
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