As times have been rough for the price of Cardano (ADA), which is recording losses on all of its observed charts, a popular artificial intelligence (AI) model has provided insights that reveal when the currently 10th-largest cryptocurrency by market capitalization could hit $1.
Indeed, Cardano has been facing intense selling pressure regardless of positive developments like its foundation signing a partnership with the government of Entre Ríos province in Argentina to enhance blockchain adoption and improve crypto infrastructure in the region.
Cardano price 30-day chart. Source: Finbold
Interestingly, pseudonymous crypto analyst Sssebi has recently projected that Cardano hitting the price of $2 in August was “highly likely,” citing progress on the upcoming node upgrade in June and Chang hard fork going live once all the nodes go through necessary updates.
So, in June the Cardano blockchain will receive the node upgrade and in August all nodes should be updated and Chang should be live.Before all other important hard forks, $ADA price went nuts.A $2 $ADA in August is highly likely!
— Sssebi? (@Av_Sebastian) June 10, 2024All things considered, Cardano could hit the price of $1 in the time frame suggested by the generative AI model or even more, even sooner, if the above crypto expert is correct. However, things in the crypto sector can sometimes change on a whim, so doing one’s own research is critical.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
