Altcoins
Reading time: ~2 m
With the Vasil update on the Cardano blockchain, there has been a lot of speculation regarding the price of ADA and how long the impact of the hard fork on the token’s momentum will be.
The CoinMarketCap community believes that by October 31, 2022, the cryptocurrency will trade at an average of $ 0.5873, 10,386 votes were cast in favor of this point of view.
This forecast assumes an increase of $0.15 or 36.21% from the current ADA price of $0.432.
Cardano price by the end of September. Source: CoinMarketCap
According to well-known cryptocurrency trading expert Michael van de Poppe, the best time to buy Cardano would be when trading in the $0.30 to $0.375 range.
After that, the expert expects that a reversal of the current negative Cardano trend will lead to an increase in long positions.
Notably, Cardano’s price didn’t show any price spikes after the update, although LunarCrush data showed a huge increase in Cardano’s social media mentions in the days leading up to the highly anticipated event.
According to statistics provided by CoinMarketCap, at the time of writing, the token is trading at $0.4384 with a 4.95% daily drop and a 4.15% weekly gain.
Hourly ADA chart. Source: CoinMarketCap
One of the factors that could affect the price of Cardano in the future, according to Charles Hoskinson, will be new ideas aimed at improving the blockchain, in particular, an ADA-certified crypto wallet.
#CoinMarketCap #Community #Predicts #Cardano #Price #Growth #October #31st
