Deep Learning Algorithm Predicts Cardano to Hit $2 by the End of August.
Cardano’s price has been mainly trading in the green recently as the network continues developing its blockchain. The Cardano community also predicts the token’s value could increase due to the upcoming Vasil hard fork. In this line, NeuralProphet’s PyTorch-based price prediction algorithm implementing an open-source machine learning framework has predicted that ADA will hit $2.26 by August 31, 2022. Although the prediction model covers the period from July 31 to December 31, 2022, and it is not an accurate indicator of future prices, its predictions have historically proven to be relatively precise up until the abrupt market collapse of the algorithm-based stablecoin project TerraUSD (UST).
However, this forecast aligns with overall optimism about ADA due to network activity aimed at increasing asset utility. It should be noted that despite the slight increase, ADA is yet to show a significant reaction to the upgrade, but the token’s advocates are glued to the price movement as it shows signs of recovery. Likewise, the token has benefited from the recent two-month rally in the broader cryptocurrency market.
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Source: www.pipsafe.com
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