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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Why Cardano (ADA) Is Likely To Rise as High As $0.60 By End Of 2022, Experts Predict

Reynaldo Marquez
Reynaldo Marquez
2 years ago
2 mins read
Cardano

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Cardano has been lagging behind the current bullish momentum in the altcoin market. While Ethereum (ETH), Solana (SOL), and XRP trend to the upside in the last 24 hours, ADA’s price continues to move sideways.

Related Reading | JP Morgan Claims Drop In Bitcoin Production Cost Is Negative For BTC Price

At the time of writing, ADA’s price trades at $0.44 with barely 0.5% profit in the last day.

Cardano ADA ADAUSDT
ADA’s price trends to the downside on the 4-hour chart. Source: ADAUSDT Tradingview

According to a survey conducted by Finder with 53 industry specialists, Cardano is likely to move higher from its current levels. The participants claim ADA’s price is set to end 2022 at around $0.60 with bullish expectations for the long term.

In 2025, ADA could value at around $3 and close to $7 by 2030. Although the experts are bullish on ADA, this price target represents a far slower increase than the one predicted by Finder’s January survey.

At the time, participants expected the price of Cardano to close out at $2.79 and at $58 by 2030. The expert believes Cardano developers have failed to meet market expectations regarding this network’s ecosystem and development.

Expert Iwa Salami, Co-Director of the Centre of FinTech at the University of East London, said the following on Cardano and its potential to trend to the upside based on real-world use cases:

I think the relevance of the Cardano blockchain, particularly as it seeks to foster financial inclusion in developing economies, is very significant and is likely to expand its long-term use, and therefore have a positive impact on the price of ADA.

Cardano ADA ADAUSDT F1
Source: Finder

Is Now The Right Time To Buy Cardano (ADA)?

In the short term, 17% of the experts expect Cardano to see bullish momentum on the back of the upcoming Vasil Hard Fork Combinator (HFC) event. An extra 20% believe the positive impact on the price of this cryptocurrency will be palpable in the long term.

While there is a relevant percentage of these experts that expert bearish price action, the majority claim to be unsure of the future price impact of this event. Designed to provide the network with better performance, and throughput, and to increase its decentralization, the Vasil update might fail to provide bulls with enough momentum to break above the current range, at least for the time being.

Cardano ADA ADAUSDT F2
Source: Finder

Ben Ritchie, another one of Finder’s survey participants and managing director at Digital Capital Management, is unsure about the potential impact of the upcoming upgrade. Ritchie is more certain about the potential long terms benefit. He said:

In our understanding, the hard fork will benefit developers who want to use the Cardano network and the communities who love low fees and high-speed networks. However, the upgrade may be good for the future of the network as more project developers can build on the Cardano network with ease.

Related Reading | JP Morgan Claims Drop In Bitcoin Production Cost Is Negative For BTC Price

An important majority of Finbder’s panel (51%) believe Vasil will make this network more useful and facilitate the expansion of its ecosystem. As seen below, only 14% of the experts believe the opposite.

Cardano ADA ADAUSDT F3
Source: Finder
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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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