Cardano’s ADA token has suffered heavy losses in recent weeks. However, the Cardano price was able to recover slightly after Ripple’s victory against the SEC. A low Cardano price could also be a good buying opportunity. Can Cardano price reach $1 before Bitcoin Halving?
How did Cardano Price Perform recently?
Unfortunately, the Cardano (ADA) price has seen a slight increase in the last few weeks. After the ADA token rose sharply at the beginning of the year and fell sharply in early June, Cardano has been able to recover in the last 4 weeks.
Ripple’s partial victory against the SEC caused the Cardano price to rise more sharply. The ADA token rose from a price of $0.28 to $0.37 in just a few hours.
As a result, the Cardano price lost again slightly and recently stabilized slightly above the $0.31 mark. Since the beginning of the year, Cardano has seen an increase of around 30%.
Will Cardano Price rise?
So the Cardano (ADA) price could see an overall increase in 2023. However, events such as the SEC listing the ADA token as a security a few weeks ago caused great uncertainty among investors.
However, the second half of 2023 could see a stronger increase again. There are several reasons for this:
- Due to Ripple’s partial victory against the US Securities and Exchange Commission, the Altcoins have generally gotten some breathing room with the regulator-mad authority. That could boost the ADA price.
- The Bitcoin price could soon break out again. A bull run before the halving has been common in the past and could also boost altcoin prices.
Can Cardano Price reach $1 before Bitcoin Halving?
The Bitcoin Halving will probably take place in April 2024. Until then, Bitcoin could see a bull run, which should also boost the Cardano price. The second half of 2023 could actually lead to a stronger increase above $0.50 for the Cardano price.
A Cardano price of 1 dollar seems very optimistic at the moment. Nevertheless, the ADA token can always see strong bull runs, which could double the price or rise even more easily. If we had to bet, we would see the Cardano rate between $0.50 and $0.75 at the time of Bitcoin Halving.
Recommended posts
