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As the scheduled launch date of the Vasil fork on the Cardano network is closing, the speculations and ADA price predictions are flooding the space. Another name was added to the list with a crypto analyst anticipating Cardano (ADA) to see a hike following the upgrade.
On Monday, 5th September 2022, prominent crypto trader Benjamin Cowen went on YouTube and shared his opinion on the effect of upcoming upgrades on smart contract networks. He said that although it’s clearly visible that Cardano (ADA) is amidst a bear market, it is expected to reach 0.60 USD.
According to Cowen, from here if ADA price jumps and stays around 0.52 to 0.60 USD, then it would act as a milestone for it. This would act as an impactful instance given the bitcoin being in a consistent bearish trend. For a long time now, BTC has been struggling to move ahead of the 20K zone but is failing and the dollar on the other hand keeps getting stronger against it.
Further, he went on to say that he is also looking over the valuation of ADA/ETH during high optimism around Cardano. He said he would consider buying ADA-like altcoin only if he is optimistic about the possibilities of beating bitcoin and Ethereum-like crypto assets. He showed this optimism around ADA beating BTC and ETH after looking at the bottom ranges of ADA/ETH.
Cowen also emphasized the possibility of the impact of Ethereum’s The Merge upgrade on ADA price. He said the ETH merge could also be the one thing to pull the price of Cardano (ADA) upwards. Citing all the hype around the most awaited upgrade on the Ethereum network, he is optimistic of the crypto asset to reach at least 0.60 USD.
Currently, at the time of writing, Cardano’s (ADA) price is approx 0.5028 USD, with more than 10% in the last seven days.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
