According to the latest estimates from the CoinMarketCap cryptos community, the price of the Cardano (ADA) will hit around $2.40 by the end of December. It’s possible to forecast the price of a cryptocurrency over the next six months using CoinMarketCap’s ‘Price Estimates’ tool and see what other people think in real time.
It’s worth noting that social Cardano price estimates show a median price of $2,402 on December 30th, 2021, which is an 82.41% rise from the present ADA price of $1.32. This is a significant gain in value. At the time of publication, 82,530 people had cast their votes to determine the average price of the product. More than that, 55,856 people have projected that the price will climb to $2.46 in January of next year.
Cryptocurrency market forecasts from analysts
Coincidentally, leading cryptocurrency analysts have projected that Cardano will soon rebound with the crypto community.
Michael van de Popple, a well-known crypto trading analyst, feels that ADA has substantial upside potential, with a hypothetical case if Cardano is able to break above previous levels at $1.46 and $1.78, he said.
There are a few things we need to do here in order to become a bully.” Breaking through previous levels of support is what we’re aiming for. Entering an asset when no one is interested or when the majority of people dislike it is a good strategy. That’s the way the market operates. With Cardano, I believe it’s there. As a result, you should be interested in this topic.
As a result of this, Cardano is currently trading at $1.32, down 6.35 percent in the last 24 hours and 17.19 percent over the previous week, with a market capitalization of $43.2 billion, a far cry from its all-time high of $2.96 on September 3. The decline in the price of Bitcoin (BTC) is hurting the world’s largest proof-of-stake (PoS) blockchain and several other prominent cryptocurrencies.
While the price of the coin has fallen, it has officially passed the 20 million transaction mark. The Cardano network was able to accomplish this without experiencing even a single day of downtime. Since its all-time high, the value of Cardano (ADA) has dropped by nearly 50%, but top crypto analysts predict that this will soon change.
Cerbull, a well-known cryptocurrency analyst, believes that the coin’s value would grow by roughly 15 percent in the near future. According to his prediction, a 15% gain in the currency’s price would get it to $1.97, which is just below the crucial $2 threshold, but still a long way away from its previous all-time high of $2.96 on September 3.
Full-time trader Michael van de Popple, CEO of consultancy and education platform Eight Global, also sees a lot of potential for ADA in the event that Cardano breaks above certain earlier support points.
This is a good time to purchase Cardano if we are still in a bull market, as it is on the cusp of striking a support level that might present a good purchasing opportunity. The world’s largest proof-of-stake (PoS) blockchain has recently passed the 20 million transaction mark. The Cardano network saw no downtime during this process.
Featured photo source unsplash.com