Bard AI Forecasts Cardano's ADA Value Post-Bitcoin Halving

Jonathan Stoker Jan 30, 2024, 14:50pm 139 views

Bard AI Forecasts Cardano's ADA Value Post-Bitcoin Halving

The price of Cardano (ADA) began to rise in October 2023, reaching its annual peak at $0.66 in mid-December. However, a widespread sell-off in the crypto market earlier this year saw ADA's price decrease. As it currently stands, ADA has decreased by 2.7% over the past week, with a fall of over 9% in the past 14 days, and a 19.8% drop over the last month. Despite these fluctuations, Cardano has seen a significant increase of 26.1% since January 2023.

Impact of Bitcoin's Halving Event on Cardano's Price

BitcoinBitcoin$42,260 -0.64% (BTC) is set to enter its next halving cycle in April. This event is widely expected to prompt a rally in the crypto market. The artificial intelligence chatbot from Google, Bard AI, has proposed three potential scenarios for ADA's price following this BTC halving event.

Scenario 1: Bitcoin Hits $100,000

In this first scenario, if BTC's price reaches $100,000 after the halving, as forecasted by CoinCodex, Cardano's price could potentially surge to between $2.5 and $5. Reaching $5 would represent a growth of over 940% from its current levels and would also establish a new all-time high for the token.

Scenario 2: Bitcoin Surges to $250,000

In the second scenario, with BTC's price predicted to increase to $250,000 by BitQuant, Bard AI forecasts Cardano's price to hit a range between $5 and $10. If ADA reaches $10, this would equate to a leap of around 1983% from current levels. In the event of BTC hitting $250,000, Bard AI anticipates a significant altcoin rally, potentially resulting in an 8 to 16-fold rise for Cardano.

Scenario 3: Bitcoin Reaches $50,000

The final scenario is moderately bearish, predicting BTC to achieve a price of $50,000. In this scenario, Bard AI predicts ADA could reach a price range between $1 and $2, meaning a growth of approximately 316% from its current level.

Potential Outcomes for Cardano

The proposed scenarios suggest that Cardano could experience a substantial price spike if these events materialize. However, there is a possibility that the market does not respond to BTC's halving event, which could result in stable, consolidated prices for Cardano.

Edited by Jonathan Stoker

How do you like the article?

Join the discussion on

You may also like

Advertisement

Articles in same category

Advertisement

Coins in same category

Advertisement

Join our community

Help moderate our articles, rate content and show your support!

We want you to be part of the first automated crypto-magazine.

Join us today