July is off to a rather promising start, with Bitcoin’s price showing significant strength after recent losses. During the weekend, Bitcoin and Ethereum were trending higher. Cardano like all other altcoins has recovered from the recent sell-off. Although ADA price has yet to rise above $2, there are some positive signals that it will shortly.
Furthermore, the Cardano network creates the platform for increased investor confidence by providing continuous upgrades aimed at strengthening the blockchain.
Cardano price has risen from its lows of $1.00 on June 22 to $1.44 in today’s session. Bullish calls on the ADA price estimate a target price of $1.54 or higher.
ADA Price : New Records to be Set Soon?
According to Merten, the completion of Goguen, the stage in Cardano’s roadmap that will integrate smart contract functionality, would be the catalyst for ADA to reach new all-time highs. The highly anticipated fundamental breakthrough, according to the expert, might propel Cardano to new heights against the US dollar, Bitcoin (ADA/BTC), and Ethereum (ADA/BTC).
Cardano is currently in the spotlight, and every market signal points to Cardano being in a “now or never” situation, he said in a recent strategy session.
He also stated that for ADA/BTC to break out past its all-time highs and maybe claim and chart new all-time high territory, as well as for the dollar chart to clearly start charting much higher into possible $3.00 to $5.00 territory if we truly enter the late stages of the bull market.
The “Ethereum killer” intends to fully deploy its smart contract capabilities, allowing it to host a wide range of decentralized apps.
In addition to the proof-of-stake blockchain, IOHK CEO Charles Hoskinson stated on Twitter that there would be hundreds of assets, thousands of dApps, and several fascinating initiatives.