CoinCodex, a company specializing in supplying crypto market participants with online metrics and technical analysis of digital asset price movements, has painted a rosy picture for investors in the Cardano blockchain and its crypto asset ADA.
It is expected that the return on investment (ROI) on the crypto asset could exceed 400% relative to the current price (around $0.25) in 2024. CoinCodex analysts forecast future ADA growth based on the historical movement of Cardano blockchain asset prices, coinciding in momentum with Bitcoin’s halving cycles.
CoinCodex takes a more conservative stance on the long-term outlook for ADA price movements. Experts suggest that the cryptocurrency will not be able to hold above $1 and will trade well below the $0.80 level almost immediately after reaching its peak value