Analysts and experts predict that the Cardano (ADA) price will experience a significant rise in 2024. These predictions include predictions that ADA will rise to $1 or even higher, with the impact of the upcoming block reward halving in Bitcoin (BTC).
Cardano's Performance in the Last Quarter of 2023
Cardano (ADA) performed quite well in the last quarter of 2023. ADA, which started at $0.20 in November, managed to rise to $0.30 in December. This performance encouraged analysts and experts to make even more optimistic predictions for 2024.
Positive Predictions for Cardano
The presenter of the YouTube channel Coin Bureau, which produces cryptocurrency-focused educational content, made a $1 price prediction for Cardano (ADA). Twitter analyst Lucid praised ADA's technology and predicted a price of $10.
Popular cryptocurrency analyst Ali Martinez argued that ADA's market cycle is similar to the 2018-2020 cycle and made the following statements:
“If this trend continues, we could see ADA consolidate around its current levels by April, setting the stage for a potential resumption of the bull run.”
Bitcoin Block Reward Halving Effect
The block reward halving in Bitcoin (BTC) is expected to occur in April this year. Considering that altcoins follow the price movements in Bitcoin, it can be said that ADA will also rise in this process.
Previous Predictions
Last year, Crypto Capital Venture founder Dan Gambardello and Twitter user Tyler Strejilevich also shared their price predictions for Cardano (ADA). While Dan Gambardello predicted a price of $11 for ADA, Tyler Strejilevich predicted that Cardano (ADA) will rise by 6,000% in the next 60 weeks.
Conclusion
Analysts and experts predict that the Cardano (ADA) price will experience a significant rise in 2024. It is estimated that this rise will be affected by factors such as the technological development of ADA, the upcoming block reward halving in Bitcoin and the general performance of the cryptocurrency market.
