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Following the successful occurrence of the Bitcoin halving, we’ve put together three significant Cardano price predictions this bull cycle.
Bitcoin completed its highly anticipated fourth halving earlier today, with miners’ rewards for each block dropping from 6.25 to 3.125 BTC.
Notably, prices of major cryptocurrencies, including Cardano (ADA), were volatile ahead of the event, leading to a slight dip across the broader market. For instance, ADA witnessed a 2.7% dip over the past seven days to $0.4963.
While the Bitcoin halving historically paves the way for a bull run, it does not immediately impact crypto prices. Nonetheless, investors are confident crypto assets will experience big gains in subsequent months after the event. This assertion is based on historical post-halving performances.
In particular, ADA traded around $0.05 during the Bitcoin halving in May 2020. Interestingly, the crypto asset recorded a 6,100% rally, hitting an all-time high of $3.10 on September 2, 2021.
Top 3 Post-Halving Cardano Price Predictions
Based on Cardano’s significant price growth after the previous halving, top experts are projecting that the 10th-largest cryptocurrency will experience another parabolic run this season, especially in the months after the Bitcoin halving.
As a result, we’ve highlighted the top three Cardano price predictions after Bitcoin halving.
Cardano to $30
As stated earlier, ADA spiked by 6,100% in the last bull cycle. The parabolic run pushed Cardano’s price from a paltry $0.05 to $3.10. The Crypto Basic projected that ADA’s price could increase to $27 if it records a similar 6,100% surge in the current market cycle. At the time of the projection, ADA was trading at $0.44.
With Cardano changing hands at $0.49, it could spike to a whopping $30.38 if the same 6,100% surge repeats itself several months after the Bitcoin Halving.
ADA to $7.5
Last month, famous crypto influencer Jake Gagain issued a conservative prediction for Cardano, speculating that it could surge to $7.5 by 2025. According to Gagain, 2025 would mark the end of the current market cycle.
He noted that the $7.5 prediction for ADA would play out by the end of the current market cycle in 2025. For ADA to reach the $7.5 mark, it must record a 1,411% rally from its current price.
Analyst Sees ADA Hitting $6.66 to $7.77
Cardano Ghost Fund co-founder Chris highlighted two bullish scenarios that could take ADA to $6.66 – $7.77 in this bull cycle.
He pointed out that if Cardano reclaims its 4% peak dominance recorded in the previous cycle and the global crypto market cap surges to around $6 to $7 trillion, ADA price will surge tremendously.
According to Chris, should Cardano maintain its circulating supply of 36 billion tokens and a 4% dominance of a global crypto market valued at $6 trillion or $7 trillion, its valuation could be around $240 billion and $280 billion, respectively.
Using Chris’ model, a $240 billion valuation would see ADA trade at $6.66 while a market cap of $280 billion would place its price at $7.7.