finbold.com
Although the price of Cardano (ADA) has been suffering amid the recent volatility in the cryptocurrency market, a major milestone in the network’s roadmap is fast approaching, and the leading machine learning and artificial intelligence (AI) models are largely optimistic.
Indeed, the Cardano network is preparing for the Chang hard fork, a massive upgrade that aims to bring significant changes to the mainnet structure, including the introduction of mechanisms for users to participate in the blockchain’s governance, and will take place on September 1. According to the Cardano Foundation:
“This will mark the first step towards a minimum-viable community-run governance structure outlined in CIP-1694, meaning that the Cardano community will be responsible for maintaining and shaping the blockchain network.”
As a reminder, CIP-1694 refers to the Cardano Improvement Proposal at the center of the upgrade, introducing various governing features to the ecosystem, and placing governance into the hands of Cardano’s Constitutional Committee, dReps, and Stake Pool Operators (SPOs).
PricePredictions’ Cardano price prediction
So, how high can Cardano go? According to advanced AI algorithms at work at the crypto forecasting platform PricePredictions, Cardano could hit the price of $0.364404 on September 1, 2024, the date of the Chang hard fork, as per the information retrieved on August 28.
In other words, Cardano might advance 1.66% from its current price, provided that the projections, relying on technical analysis (TA) indicators like Bollinger Bands (BB), moving average convergence divergence (MACD), and average true range (ATR), turn out correct.
Meta AI’s Cardano price prediction
At the same time, the Meta Platforms (NASDAQ: META) AI assistant, Llama 3.1, has provided a potential price range for Cardano during its upcoming Chang hard fork between $0.37 and $0.42 in the short term and between $1.03 and $4.50 in the long term, based on analysts’ predictions. Specifically:
“Considering the recent 18% surge in ADA’s price to $0.39 and its subsequent retracement to $0.36, as well as the delayed Chang hard fork announcement, there is a possibility of a brief price decline. However, with the upcoming updates, including the Node 9.0 release and the anticipated Chang hard fork, ADA is well-positioned for significant growth.”
ChatGPT’s Cardano price prediction
Meanwhile, the OpenAI brainchild ChatGPT-4o has offered its own Cardano price prediction targets during the Chang hard fork, arguing it could push ADA back up to around $0.39 – $0.42 if the upgrade proceeds smoothly in September, citing analysts who expect short-term gains as the market adjusts.
On top of that, it has listed specific long-term prognoses by particular expert platforms, including:
Google Gemini’s ADA price prediction
Finally, the generative conversational AI innovation by Google (NASDAQ: GOOGL), called Google Gemini, has listed three scenarios for the potential price of Cardano after the introduction of Chang hard fork based on market sentiment, adoption and use cases, TA, expert opinions, and AI predictions, including:
Analysts’ Cardano price prediction
Elsewhere, crypto analyst Alan Santana has opined that Cardano could be in for a staggering 2,222% increase, potentially reaching new all-time highs (ATHs) by 2025, following what he believes to be a “minor correction” in the past weeks, as Finbold reported on August 22.
ADA price analysis
For the time being, Cardano is changing hands at $0.35844, reflecting a decline of 1.82% in the last 24 hours, gaining 1.71% across the previous seven days, and losing 13.09% on its monthly chart marred with volatility, as per data on August 28.
All things considered, Cardano price prediction next bull run could reflect the optimistic sentiment surrounding the Chang hard fork. However, doing one’s own research and risk analysis is critical when investing, as trends in the crypto market can change unexpectedly.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.