Despite experiencing a recent decline, Cardano’s price could potentially reach $5 by the end of the year, according to ChatGPT-4o. The broader market’s impact pushed ADA below $0.50, but it has since seen a mild 24-hour increase of 0.43%, currently trading at $0.4621.
However, ADA is still down 4% in the weekly chart and 3.1% in the monthly chart. Despite this decline, ChatGPT-4o, OpenAI’s advanced chatbot, has provided insights into the potential price range for ADA by the end of the year.
ChatGPT-4o has offered two predictions for ADA by the end of 2024 and identified factors that could drive the coin’s surge. The first prediction suggests that ADA could trade between $1 and $2 by the end of 2024 if the broader crypto market experiences steady and moderate growth.
However, if Cardano and the broader crypto market witness positive trends and developments, the AI tool predicts that ADA could reach $2 and even $5. This means ADA would need to rally at least 332% and 982% from its current price to reach the targets of $2 and $5, respectively.
ChatGPT-4o has also highlighted several factors that could influence ADA’s potential surge to $5 by the end of the year. One significant factor is the growing interest in ADA among whale investors, which indicates bullish sentiment and can drive up the price.
The AI chatbot also mentioned increased developmental activities and institutional adoption of ADA as potential factors that could drive its price to $5. Cardano’s research and development arm, IOG, has been working on enhancing the network’s performance and security, implementing critical upgrades.
Furthermore, the chatbot advises ADA holders to monitor regulatory and economic changes that could have a positive impact on the coin’s price.
It is important to note that this article is for informational purposes only and should not be considered financial advice. The views expressed in this article are the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic is not responsible for any financial losses.