Cardano has rebounded from the recent sell-off, as have all other cryptocurrencies.
Bitcoin and Ethereum were moving upward over the weekend. Although the price of ADA has yet to increase over $2, there are some signs that it may do so soon.
Furthermore, by offering regular updates targeted at improving the blockchain, the Cardano network offers a foundation for increasing investor trust.
In today’s session, the Cardano price has climbed from its lows of $1.00 on June 22 to $1.44. Bullish calls on the ADA price forecast a $1.54 or higher target price.
ADA Price: New Records on the Way?
The completion of Goguen, the stage in Cardano’s roadmap that will incorporate smart contract capabilities, according to Merten, will be the impetus for ADA to achieve new all-time highs.
According to the expert, the widely awaited fundamental breakthrough may drive Cardano to new heights versus the US dollar, Bitcoin (ADA/BTC), and Ethereum (ADA/BTC).
In a recent strategy session, he stated that Cardano is presently in the limelight, and that every market signal indicates that Cardano is in a “now or never” position.
He also indicated that if we actually reach the late phases of the bull market, ADA/BTC should break out past its all-time highs and perhaps claim and chart new all-time high territory, as well as the dollar chart to clearly start charting much higher into likely $3.00 to $5.00 territory.
Third Generation Blockchain
The “Ethereum killer” plans to fully implement its smart contract capabilities, letting it to host a diverse set of decentralised applications.
IOHK CEO Charles Hoskinson claimed on Twitter that there will be hundreds of assets, thousands of dApps, and numerous intriguing efforts in addition to the proof-of-stake blockchain.
This Time Next Year I Predict There Will Be Hundreds Of Assets Running On Cardano, Thousands Of DApps, Tons Of Interesting Projects And Lots Of Unique Use And Utility. 2021 Is Going To Be So Much Fun Watching Cardano Grow And Evolve. The Community Is Definitely Ready To Innovate— Charles Hoskinson (@IOHK_Charles) July 26, 2020