ChatGPT4o predicts when Cardano price will reach 1
In a period of difficulty for Cardano (ADA) pricing, with losses evident across all tracked charts, a renowned artificial intelligence (AI) model has shed light on the potential timeline for the 10th largest cryptocurrency by market cap to reach $1.
Despite positive developments such as a recent partnership between Cardano’s foundation and the government of Entre Ríos province in Argentina to boost blockchain adoption and enhance crypto infrastructure in the region, the cryptocurrency has been under significant selling pressure.
To gain insights into when Cardano might achieve the $1 mark, Finbold consulted the latest iteration of the advanced AI model from OpenAI, ChatGPT-4o. This AI chatbot offered two scenarios for Cardano’s price prediction.
According to the optimistic scenario, ADA could hit $1 by mid to late 2024, supported by technical indicators and market analysis. On the other hand, the conservative estimate places the target date in 2025, considering more moderate growth projections and expert opinions.
The AI model highlighted the impact of key factors such as Bitcoin (BTC) halving cycles and decentralized finance (DeFi) assets on Cardano’s price movements. It pointed out that major market events like Bitcoin halving cycles often trigger bullish phases that affect ADA’s price positively.
Furthermore, the AI model emphasized the growth of the Cardano network, citing significant upgrades like the introduction of staking and smart contracts during the Shelley and Alonzo phases, which had notable impacts on ADA’s price.
Currently, Cardano is trading at $0.42297, reflecting a 1.49% decline in the last 24 hours, a 13.42% drop over the previous seven days, and an overall loss of 4.40% on the monthly chart as of June 14.
Looking ahead, pseudonymous crypto analyst Sssebi projected a highly likely scenario of Cardano reaching $2 in August, citing progress on the upcoming node upgrade and Chang hard fork going live once all nodes undergo necessary updates in June.
In conclusion, while Cardano could potentially reach $1 within the suggested timeframe by the AI model or even sooner as per expert opinions, the volatile nature of the crypto market emphasizes the importance of conducting thorough research before making investment decisions.
