While Cardano (ADA) wallows below a dollar, prominent entities alongside AI tools Google Bard and ChatGPT have projected ADA breaking past the $1 and going further into the double-digit realms.
Like many cryptocurrencies, Cardano suffered a significant impact from the ongoing market downturn. Currently trading at $0.4739, ADA has witnessed a 9.85% decrease from its peak of $0.5226 on January 18.
Moreover, the asset has sunk from a peak of $0.6036 in the last 30 days to a low of $0.4544.
Although ADA currently displays minimal signs of recovery, notable entities, including AI tools like Google Bard and ChatGPT, anticipate ADA surpassing the $1 mark and potentially entering double-digit territory.
ChatGPT Timeline for Cardano to Hit $6
According to ChatGPT’s analysis, Cardano is anticipated to attain a price range of $5 to $6 by the conclusion of 2024. ChatGPT supported the ambitious targets by emphasizing the expanding Cardano ecosystem.
Significantly, this forecast exceeds ADA’s peak of $3.10 in 2021. Given the asset’s current value of approximately $0.4723, a surge to $6 would represent a growth rate of 1,170%.
Meanwhile, ChatGPT emphasized that the projection is merely speculative. Yet, it suggested a price range of $3 to $4 in a less favorable market scenario.
Google Bard Timeline for ADA to Hit $1.46
According to Google Bard, Cardano could peak at $1.46 this year. Moreover, it suggested an average price projection of $1.29.
As a backing, it noted the consistent efforts of developers to introduce new products to the ecosystem.
However, adopting a more pessimistic outlook, Google Bard warns that Cardano’s value could potentially plummet to as low as $0.4040 by 2024 end.
Timeline for Cardano to Rally $7 to $11 as Analysts Estimate
Furthermore, ADA has similarly garnered optimistic projections from at least three prominent analysts: Ali Martinez, Dan Gambardello, and Ben Armstrong.
Their forecasts indicated a potential rally for ADA, with price targets ranging from $7 to $11.
Ali Martinez banked on ADA’s current consolidation phase, closely reflecting the periods just before the asset experienced an explosive rally from about $0.09699 to an all-time high of $3.1.
In particular, Martinez pointed out that ADA consolidated for 667 days previously and embarked on a 2,984% rally within a year. Now, the asset has so far stayed 664 days in consolidation.
As a result, Martinez foresees ADA repeating history, placing a target of $7. However, his analysis suggested Cardano could hit the target around 2025 and beyond.
Cardano chart | Ali <span style=font weight 400>Martinez<span>
Acknowledging the accuracies of Martinez’s analysis, Ben Armstrong proclaimed a target price of $11.
Armstrong believes the $11 threshold is attainable this bull season, a sentiment renowned analyst Dan Gambardello vouched for.
Read the full article here