Can ADA break the $2 price ceiling by mid-December 2024?

Cardano is another ambitious cryptocurrency token, a significant part of the crypto space that is aiming high after overcoming its previous price decline. The token has seen most of the yearly price decline with ADA showing a moderate price pace. With market momentum now maximized, ADA can continue its rally, but can it reach $2 by mid-December 2024?

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ADA Founder Hoskinson Claims Bitcoin Will Hit $250,000: That’s Good for Cardano: Here’s How

Cardano founder Charles Hoskinson recently posted a compelling new analysis for Bitcoin on YouTube. Hoskinson added that Bitcoin could reach the coveted price mark of $550,000 by the end of December 2024.

“I believe Bitcoin will rise to $250,000 to $500,000 within the next 12 to 24 months due to the investment inflows and high interest that has been generated.”

The ADA founder’s ambitious price tag has caused a stir in the cryptocurrency space. He later shared that the DeFi space is eager to adopt the Bitcoin ecosystem and predicted that BTC could soon actually become an incredible element of the DeFi space.

“DeFi in the Bitcoin ecosystem will eclipse DeFi in all cryptocurrency industry ecosystems within 24 to 36 months, and that is solely due to size and liquidity.”

Such bullish price predictions are considered incredibly bullish for the cryptocurrency market in general. If the price of Bitcoin rises, the momentum could also push ADA to new highs, leading to a new surge in interest in the token.

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When will the token reach the coveted $2 price mark?

According to CoinCodex, ADA will be around $1.39 by the end of December.

“According to our current Cardano price prediction, the price of Cardano is expected to increase by 20.26% to reach $1.393505 by January 1, 2025. According to our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is 81 (extreme greed). Cardano recorded 23/30 (77%) green days in the last 30 days with a price volatility of 36.79%. Based on the Cardano forecast, now is a good time to buy Cardano.”

However, ADA could reach $2 in early January 2025.

Also Read: Cardano Breaks $1.05: What’s Next for ADA?