Analyst Bullish on Cardano: Chang Hard Fork to Trigger Price Explosion

Cardano (ADA) has been struggling to recover from its recent bearish downturn, with its price continuing to set new lows. However, Cody Buffinton, host of the Altcoin Buzz Crypto YouTube channel, believes the upcoming Chang hard fork could ignite a massive 130% price surge this month.

Buffinton points out that ADA experienced a similar price jump before its previous hard fork in 2021, increasing by 130% from $1.35 to $3.10. This historic trend suggests that the upcoming Chang Hard Fork could have a similar impact on the cryptocurrency’s price.

The Chang Hard Fork, scheduled for this month, will mark a significant milestone in Cardano’s development roadmap, ushering in the Voltaire era. This era will introduce a voting and treasury system, empowering network participants to shape the network’s future through their stake and voting rights.

With the Cardano team aiming to achieve true decentralization, the Voltaire era will introduce a new feature that allows network participants to submit proposals for improving the network. Stakeholders can then vote on these proposals through the existing staking process.

Cardano founder Charles Hoskinson has hailed the Chang Hard Fork as the most significant milestone in the network’s history. With the Chang Hard Fork on the horizon, analyst Buffinton believes that this upgrade could be the spark that sets off a price surge, suggesting that now may be the perfect time to buy Cardano.

As at press time, ADA trades at $0.372, reflecting a 6.10% uptick in the last 24 hours. If history repeats itself, Cardano’s price surging by 130% from its current value could potentially reach around $0.8556. Notably, this price level would mark a new yearly high for ADA, surpassing the $0.807 in early March.