The Cardano Vasil hard fork is expected to go live on September 22, 2022, a week after the Ethereum Merge. The Vasil hard fork was expected to launch in June but the foundation delayed the release due to technicalities and necessary tests. While Vasil is now only a week away from release, analysts believe ADA could spike in price in the days leading up to the hard fork.
Several financial analysts predicted that the upgrade could trigger a massive price rally making ADA reach monthly highs.
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Cardano Price Prediction
Crypto analyst Michael van de Poppe has predicted that Cardano might double in price before the Vasil hard fork. At press time, ADA was trading at $0.44. The crypto dropped under $1 in April 2022 and it has not reclaimed the level yet.
However, Poppe predicted on YouTube that the lack of momentum in ADA will be the catalyst for a potential rally. He revealed that ADA is attracting hype and will lead to a rally in the days leading to the upgrade.
“We basically have no momentum and hype going towards the Vasil hard fork as no clear run upwards has been taking place prior. This brings massive opportunities. If the Vasil hard fork is going to take place in a positive manner which is quite similar to the Ethereum (ETH) Merge. In that case, a run towards $1 isn’t unexpected around this event,” Poppe said.
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Can ADA Double in Price?
While the hard fork is an important upgrade, ADA doubling in price might not be a reality. The hard fork might end up being another ‘buy the rumor, sell the news’ type of event as even Ethereum’s upgrade failed to spike ETH’s price.
In addition, the Vasil hard fork will be completed a day after the Feds meet on September 20 and 21. Therefore, ADA could be caught in the crossfire of the interest rate hike development that could tank the markets. In conclusion, it’s advised to be cautious before going all in on Cardano in the period leading up to the upgrade.
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At press time, Cardano was trading at $0.44 and is up 8.4% in the 24 hours day trade. The crypto is down 85.6% from its all-time high of $3.09, which it reached in September last year.