Following Robinhood’s announcement of delisting Cardano (ADA), the cryptocurrency experienced a significant crash, alongside other major digital assets.
The crypto market has been grappling with regulatory actions and increased volatility, leaving investors uncertain about the future.
In this article, leading finance experts provide insights into Cardano’s price trajectory by the end of 2023, considering regulatory developments, ongoing legal proceedings, and technological advancements.
Sebastian Purcell, CEO of 1.2 Capital Management
Sebastian Purcell believes that the worst is over regarding the SEC issue related to Cardano. However, he points out that the outcome of the Ripple v. SEC lawsuit could have implications for the broader cryptocurrency industry, including Cardano.
Purcell suggests that a favorable outcome for Ripple could potentially lead to a spike in ADA’s price beyond its near-term high.
Frank Corva, Senior Analyst for Digital Assets at Finder
Frank Corva acknowledges the challenge of predicting Cardano’s year-end value due to regulatory uncertainties. He highlights the importance of considering specific factors such as Cardano’s development progress, technological advancements, market adoption, competition, and potential regulatory changes.
Corva suggests that while ADA’s price may be in limbo due to regulatory concerns if the crypto market resumes its upward trend, ADA’s price is likely to rise with it.
Azzam Sheikh, Digital Strategist at Money Advisor
Azzam Sheikh discusses the significance of the Hydra update for Cardano. The upgrade aims to enhance transaction speed, reduce latency, and increase throughput.
With improved network security and cost-effective solutions, Hydra has the potential to positively impact Cardano’s price. Sheikh suggests that if the Hydra update unfolds as planned, ADA’s price could range from $0.472 to $0.716, with an average of $0.552 by the end of the year.
