Wednesday’s crypto madness is continuing. With Coinbase (NASDAQ:COIN) about to start trading and Bitcoin (CCC:BTC-USD) reaching new highs, the floodgates have opened. Just about every crypto of note is seeing a boost through this week. Cardano (CCC:ADA-USD) is one of these altcoins riding on the momentous hype of the week, and new Cardano (ADA) price predictions are becoming increasingly bullish.
Before we dive into those predictions, what is driving this crypto frenzy?
The Coinbase IPO will be the first of its kind, and will cement crypto as a permanent fixture in the trading world. Analysts continue to clash over the valuation of the company, even as the moment of truth pushes ever-closer. Is COIN stock worth $250 or $600? Only time will tell. In the meantime, we can see just how much value Coinbase can bring to other cryptocurrencies.
Since the Coinbase IPO hype really picked up last week, we’ve seen every crypto of note reach booming heights. Coins that don’t even have a Coinbase Pro listing are swinging up, just based off of the sheer popularity of the industry right now. Dogecoin (CCC:DOGE-USD), for example, has nearly doubled in value over two days, and it isn’t even available on Coinbase.
Coinbase Hype Ramps Up Cardano (ADA) Price Predictions
Cardano, like seemingly every other altcoin early this morning, has broken through to new highs. The ADA coin has hit $1.56 for the first time, a personal best. The news is driving in a lot of hype. Analysts seem to think that even through the Coinbase IPO, ADA will continue to grow rapidly through the year. Let’s look at some Cardano (ADA) price predictions:
- PrimeXBT is predicting a price of $2 for ADA by the end of the year after some bearish corrections.
- The Economic Forecast Agency is predicting the coin to hit a high of $2.98 by December.
- InvestingCube suggests that if ADA can hold above $1.34, it is poised for a bullish run in Q2.
- CryptoGlobe reports that an analyst is calling a $10 year-end target for ADA, one of the most bullish predictions I’ve seen so far.
- Trading Education calculates a $5.90 price for ADA in December. However, it predicts most of the growth will likely come in the next month.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.