Following a broader uptick in the cryptocurrency market, Cardano (ADA) has seen a price surge of more than 15% in the past three months, prompting several industry specialists to present their forecasts for ADA’s future value. While Bitcoin (BTC) leads the charge, Cardano’s recent gains expose a relatively weaker market position in spite of its positive trajectory. Market speculators and analysts are keenly offering varied projections about where the digital coin’s price might land by the end of the year and beyond.
Elliott Lee’s Price Range Projection
Elliott Lee, affiliated with Techopedia, anticipates Cardano could be trading between $0.45 and $1.55 by the end of 2024, averaging around $0.95. Lee’s forecast is underpinned by the expectation of significant developments within the Cardano ecosystem, including the Voltaire era’s dawn, which introduces a new governance and treasury model for enhanced decentralization. Moreover, Lee counts on the roll-out of Partner Chains, the Mithril protocol, and the Hydra state channels as catalysts for ADA’s growth.
Finder’s Panel Averages to $1.57 by 2025
Finder, leveraging a panel of 29 industry experts, has not settled on a firm prediction for 2024 but suggests Cardano could reach $1.57 by the end of 2025. This optimistic outlook signals a potential average price point of $0.945 for 2024, according to previous end-of-year predictions for 2023 by the same panel.
Ben Armstrong’s Optimistic Prediction
Cryptocurrency enthusiast and influencer Ben Armstrong, also known as BitBoy Crypto, has offered an even more bullish estimate. Armstrong has projected in a video that ADA’s price could skyrocket to anywhere between $1.75 and $18 by the end of 2024, with a realistic expectation of hitting $11. Armstrong’s stance is based on the belief that Cardano will exhibit stable growth, potentially mirroring its impressive rally from under 5 cents to nearly $3 in 2021.