- Experts expect the price of ADA to rise as a result of the update.
- A popular expert expects ADA to reach the $1 level before upgrading.
Cardano (ADA) users are preparing for Vasil’s hard fork, which will improve the scalability and usability of the decentralized network. Experts expect the price of ADA to rise as a result of the update, despite the current instability in the cryptocurrency market.
Expect bullish momentum
According to a YouTube video posted by a cryptocurrency trading analyst Michael van de Poppe On September 17th, ADA is expected to reach $1 before the upgrade, as the asset had not seen any upward movement prior to the update.
In Poppe’s view, the main driver for a potential rally after the September 22 event will be the lack of significant momentum in the ADA price ahead of the blockchain update.
“We don’t have any momentum and hype in the direction of the Vasil hard fork as no clear uplift has been made before. This brings huge opportunities if the Vasil hard fork will happen in a positive way much like an Ethereum (ETH) merger. In this case, the sprint Toward $1 is not unexpected about this event.”
The expert also drew parallels between the Ethereum Merge update, which was a case of “buy rumor sell news” and the Cardano upgrade. He noted that the market is now trying to start a bullish rally, and therefore this may not be the case for the ADA.
Cardano’s decline can be explained by the fact that a bear market may soon turn into a bull market, which goes against the conventional wisdom of “buying the rumor and selling the news”. It is not reasonable to expect the rise to continue based on this fundamental change rather than negative movements.
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