- Experts predict that the price of ADA will rise as a result of the update.
- Popular expert expects ADA to reach the $1 level before the upgrade.
Cardano (ADA) users are getting ready for the Vasil hard fork, which will improve the decentralized network’s scalability and usability. Experts predict that the price of ADA will rise as a result of the update, despite the current instability in the cryptocurrency market.
Bullish Momentum Expected
According to a YouTube video posted by crypto trading analyst Michael van de Poppe on September 17, he expects ADA to reach the $1 level before the upgrade, given that the asset has not seen any upward movement prior to the update.
In Poppe’s view, the major driver for a possible rise after the September 22 event will be the absence of considerable momentum in the price of ADA ahead of the blockchain update.
“We basically have no momentum and hype going towards the Vasil hard fork as no clear run upwards has been taking place prior. This brings massive opportunities if the Vasil hard fork is going to take place in a positive manner which is quite similar to the Ethereum (ETH) Merge. In that case, a run towards $1 isn’t unexpected around this event.”
The expert also drew parallels between the Ethereum Merge update, which was a “buy the rumour sell the news” situation and Cardano’s upgrade. He pointed out that the market is now trying to start a bullish rise, therefore this may not be the case for ADA.
Cardano’s decline may be explained by the fact that the bear market may soon be turning into a bull market, which is contrary to the conventional wisdom of “buy the rumour sell the news.” It’s not reasonable to expect upward continuing based on that fundamental change instead of negative movements.
Recommended For You: