Grok, the artificial intelligence model developed by xAI, behind which Elon Musk is Cardano He made a remarkable prediction for its price.
The network continues to grow the decentralized finance ecosystem and tries to make a name for itself in the world of Web3 and cryptocurrency.
Grok Artificial Intelligence Tool Made Cardano Price Prediction
According to Grok, the ADA price has the potential to trade between $1.20 and $1.60 by the end of 2024. This represents a steady growth of 130% to 207% from its current price of $0.52 per token.
The most likely price range will be a result of increased adoption potential, growth of the DeFi sector, and overall recovery of the cryptocurrency market.
NEWS CONTINUES BELOW
As Koinfinans.com reported, Grok expects the Cardano price to be $2.02 in the best-case scenario. However artificial intelligence, talked about the positive expectations about Goguen, which started operating in September 2021. This is proof that Grok can make mistakes and sometimes produce outdated information.
On the other hand, Grok pointed out $0.35 as a bearish price target for Cardano in 2024.
This bearish outlook is based on the potential for increased competition in the market, regulatory challenges and unforeseen technical issues.
If there is a possible decline in the cryptocurrency market or the network encounters significant setbacks, the price could fall below the current price of $0.52 and drop to $0.35.
Moreover, ADA is trading in a downtrend after losing important support from the ascending triangle. This current trend support lies around Grok’s bearish price prediction, which reinforces both analyses.
