After the Vasil hard fork, the price of Cardano (ADA) nearly fell to a year-low as the upgrade failed to generate a bullish trend. The hard fork, which went live on September 22 and 27, hasn’t been able to gain traction and in fact, following the activation of Plutus V2, the price of ADA dropped to $0.42, practically a year’s low.
However, As per the coinmarketcap community, by October 31, 2022, Cardano is projected to trade on average at $0.5873,
10,386 votes were cast, with the outcome determining the optimistic price projection for the decentralized finance (DeFi) coin. According to this estimate, the price of ADA, which was trading at $0.432 at the time of publication, will rise by $0.15, or 36.21%.
The best time to buy Cardano, according to known cryptocurrency trading analyst Michael van de Poppe, is when its price is between $0.30 and $0.375. He believes that the range between $0.3 to $0.375 is the ultimate area to buy from.
Van de Poppe said that the chart of the cryptocurrency “is looking like we’re accumulating” as well. A reverse in Cardano’s present downward trend, according to the trading expert, would result in a rise in long holdings.
Charles Hoskinson still bullish on ADA
The fact that Charles Hoskinson, the man behind ADA, is coming up with new suggestions for strengthening the DeFi blockchain is one thing that might have an impact on the price of Cardano in the future. Hoskinson has stated his support for Cardano’s long-term objective of creating an ADA-certified wallet.
Hoskinson stated in a video cast on September 28 that Cardano plans to abandon the idea of a physical wallet in favor of a blueprint with specified specifications that would guide developers in the production of certified wallets.