ADA Price Prediction: Bold Prediction Lit Up the Cardano Community This Week

A bold prediction lit up the Cardano community this week, as hopes surfaced for a dramatic price surge.

A bold prediction sparked lively discussion in the Cardano community this week, fueled by hopes of a dramatic price surge. On April 17, Altcoin Oracle, a delegated representative (DRep) in Cardano’s new governance system, shared a forecast that quickly gained traction. He projected that ADA could soar to $20, highlighting a potential gain of over 3,144% from its current level.

The forecast followed an analysis by Altcoin Oracle using ChatGPT, exploring ADA’s potential if it becomes the leading network for Bitcoin-based DeFi. This idea builds on a growing connection between Cardano and Bitcoin that started gaining momentum last year.

In 2024, EMURGO, the team behind Cardano, will be collaborating with BitcoinOS to bring DeFi tools to Bitcoin using its smart contract features. Charles Hoskinson, the founder of Cardano, has identified this initiative as the top priority for the year. The objective is to unlock Bitcoin’s $1.6 trillion in liquidity and integrate it into the ecosystem.

Cardano (ADA) Could Soar With Adoption

If this vision materializes, Bitcoin holders will gain access to lending, borrowing, and yield-earning platforms powered by Cardano’s infrastructure. However, Altcoin Oracle’s post wasn’t solely focused on technology; he also touched upon ADA’s long-term price potential. He asked ChatGPT to estimate ADA’s future value if Cardano dominates Bitcoin-based DeFi by 2030.

ChatGPT estimated that Cardano’s market cap could reach $500 billion to $1 trillion by 2030 due to increasing institutional interest in DeFi. Such massive influxes could push ADA’s price to $10 to $20, varying based on the circulating supply.

If the supply remains at its current level of 35.28 billion ADA, the price could soar even higher—ranging from $14 to $28. Such a price surge would be a dream come true for anyone holding ADA today.

From “Ghost Chain” to Ethereum’s Rival?

Additionally, critics often call Cardano a “ghost chain,” highlighting the lack of developers building on the network. But the vision shared in this prediction completely turns that narrative around.

If DeFi on Bitcoin takes off with Cardano, it could stand toe-to-toe with Ethereum. In fact, ChatGPT went a step further and predicted that ADA could rival ETH in both the number of apps built and the total value locked in those apps.

Currently, ADA trades at $0.6166, showing a slight decrease of 0.50% in the last 24 hours. There are also some signs of whale accumulation, and the market seems to be consolidating between $0.51 and $0.77, possibly preparing for its next significant move.

Looking at technical indicators, ADA faces resistance at $0.6890 and $0.7154, corresponding to its 50- and 200-day moving averages. The 50-day moving average acts as an immediate resistance, but momentum indicators suggest ADA may be oversold, potentially triggering a short-term bounce.