Chat GPT-4o predicts Cardano could hit $5, timing revealed

Despite Cardano’s recent decline, ChatGPT-4o believes these factors could push ADA’s price to around $5 by the end of the year.

Cardano (ADA) is still recovering from the recent market-wide onslaught that caused its price to drop below the $0.50 level. In the hours to press time, ADA is trading at $0.4621, up just $0.431T in 24 hours.

However, ADA is still down 4% and 3.1% in the weekly and monthly charts respectively. Despite ADA’s recent plunge, OpenAI’s latest improvement, ChatGPT-4o, provides insights into the potential price range the coin may trade at by the end of the year.

Here are the possible trading levels for ADA by the end of the year:
ChatGPT-4o offers two predictions for where ADA might end up in 2024 and highlights factors that could drive the asset higher.

The first prediction suggests that ADA could trade in the $1 to $2 range by the end of 2024 if the entire cryptocurrency market maintains stability and moderate growth. According to the chatbot, the AI tool raises this target to $2 and $5 if there are positive trends and developments in Cardano and the entire cryptocurrency market. To understand the context, the prediction suggests that ADA must rise by at least 332% and 982% from its current price of $0.4621 to reach its targets of $2 and $5.

Factors that may affect the price of ADA
Notably, ChatGPT-4o highlighted several factors that could influence a possible surge in ADA’s price to $5. Topping the list is the growing attention paid to ADA by large investors.

According to analysis by ChatGPT-4o, rising demand for ADA from large investors has a bullish sentiment towards the asset and could push prices towards levels around $5.

According to the AI chatbot, other potential factors that could push ADA price towards $5 this year include increased development activity and institutional adoption of the asset.

IOG, the research and development arm of Cardano, has been working hard to improve the performance and security of the network. As of May 17, the team announced major upgrades to different aspects of Cardano, especially scaling.

At the same time, the chatbot urged ADA holders to pay attention to regulatory and economic changes that could have a positive impact on the coin’s price.

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