Cardano: ADA Price Prediction Post-Bitcoin Halving

Juhi Mirza

The cryptocurrency market is undergoing a stunning bull phase, with nearly all crypto tokens hitting a new ATH. With Bitcoin cruising and hovering near $70K, the leading altcoins are taking their turns to project new price thresholds. However, despite the ongoing flourishing market phase, Cardano has adopted a lethargic pace as compared to other coins, triggering a mild concern within the ADA community.

However, with Bitcoin Halving approaching hard and fast, the ADA community is brimming with renewed hope, expecting Cardano to soon regain its lost fortune.

Also Read: Cardano Bull Says ADA $1 Price Threshold Is Imminent: Here’s Why

ADA Price Prediction Post-Bitcoin Halving

Cardano's slow pace is perplexing investors, making them wonder when this bull market will hit ADA in full force.
Source: CryptoSlate

Bitcoin Halving is scheduled to occur on April 21. This event is dubbed monumental for Bitcoin as it cuts minor rewards in half, thereby keeping the supply of BTC scarce and fixed. However, besides keeping the BTC valuation in check, Halving events are famous for something else. They disperse investor sentiment across other altcoins, compelling users to explore other potential coins with promising future paths.

Cardano fits in this equation as the token holds a wide mix of stellar project developments and metrics that are capable of catapulting its price to new highs.

According to CoinCodex, Cardano may undergo a slight price dip on or before April 15, 2024, shedding nearly 15% of its price in the process.

“Based on the positive and negative trends in the past 30 days. ADA will be changing hands at $0.549149 on April 15, 2024, losing 6.05% in the process.”

However, ADA is predicted to recover some of its lost graces back after April 21. By May 7, ADA is predicted to have reclaimed its $0.61 mark, following its steady pace and movement.

“According to our current Cardano price prediction, the price of Cardano is predicted to rise by 4.45% and reach $0.610544 by May 8, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 76 (extreme greed). Cardano recorded 15/30 (50%) green days with 8.54% price volatility over the last 30 days.”

Also Read: Cryptocurrency: Top 3 Crypto Coins Slated To Deliver Top Returns Post Bitcoin Halving

Cardano Insights by Analysts on X

The current price path of Cardano seems slow which is causing investors to worry about its future price path. However, according to many crypto analysts on X, ADA is moving at an impeccable price and pace.

According to Dan Gambardello, a notable crypto analyst, Cardano will soon break into a stunning bullish trend. Gambardello stressed how ADA is moving at an anticipated rate without showing any unpredictability in its price markers.

Another crypto analyst on X, Sssebi shared how Cardano may face an additional 5 weeks of consolidation. After this phase, ADA is expected to break into a bullish phase, breaking past the $0.61 barrier to eventually reach $1.