Cardano, or ADA (Cardano), is the most successful cryptocurrency on the daily charts of the 10 top projects by capitalization. Cardano (ADA) has risen by 15.1% over the past 24 hours and 15.6% on the charts for the next 14 days. It is also up 95.4% in comparison to the previous month. ADA has seen its price rise by 102.3% in the last year. Despite the recent rally, ADA’s price has dropped by 2%.
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Why is Cardano rallying?
ADA is following the recent upward trend of Bitcoin (BTC) as it reaches $100,000. BTC dominates the cryptocurrency market and most other assets follow suit.
Some market participants might be placing positions even before Donald Trump becomes president. Some predict an extended bull market under Trump’s management. Trump already appointed a White House cryptocurrency czar as well as a SEC chairman.
ADA rallies follow the recent rise in altcoins. BNB (BNB), Solana, (SOL), TRON (TRX), all hit record highs during the past couple of weeks.
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What is the next step for Cryptocurrency?
CoinCodex predicts that Cardano will continue its upward trend in the coming months. Platform predicts that the asset will surpass the $2 mark by Jan. 17, 2025. CoinCodex predicts that ADA will be trading at $2.98 by February 22, 2025. To reach $2.98 at current prices will require a 156.9% increase.
Changelly presents a bearisher forecast for Cardano. Platform does not anticipate ADA will surpass the $2 threshold until at least March 2020, or four years hence. Changelly expects ADA’s price to reach a possible maximum of $2.10 per ADA in March 2029.
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Cardano’s (ADA) all-time record high price of $3.09 could be reclaimed by the time Trump takes office. It is possible that we will see another large-scale rally at the beginning of next year.
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Source: watcher.guru
