By
Steve Muchoki
April 23rd, 2024
The Vasil hard fork is expected to bolster the network’s scalability and overall usability, and there are high expectations for its ADA token as well.
Initially slated to happen in June, the Cardano Vasil hard fork was delayed for technicalities and other necessary testing procedures. But now, expectations are that the hard fork will be going live on Thursday, September 22. Amid this news, there are expectations that the previously made Cardano (ADA) price prediction can be changed.
With the Vasil hard fork expected to bolster the network’s scalability and overall usability, there are high expectations for its ADA token as well. And to this end, financial analysts believe that such an important upgrade holds a huge potential to impact positively on ADA prices.
What Analysts Are Saying about the Vasil Hard Fork
Several financial analysts including Michael van de Poppe believe that a massive price rally might be around the corner for ADA. They are predicting that the hard fork will see ADA prices hit monthly highs. But as it turns out, barely 24 hours to the hard fork, ADA price is still down.
As of publication, ADA is down by 0.95% in the last 24 hours and is trading at $0.445, per CoinMarketCap data. The crypto has struggled to reclaim its $1 mark since dropping below the level in April.
Interestingly, the reality is different from what several experts predicted to happen in the days leading up to the hard fork. Some experts believe that at this point, Cardano should be rallying ahead of the significant event scheduled for Thursday.
Nonetheless, there is an unwavering belief that a smooth transition and upgrade should eventually push the crypto up, possibly beyond the $1 price level.
As Poppe explains on YouTube, the current lack of momentum in ADA might actually be a good sign. He believes that the token is in the build-up state and will eventually rally. Analysts say:
“We basically have no momentum and hype going towards the Vasil hard fork as no clear run upwards has been taking place prior. This brings massive opportunities.”
Cardano Price Prediction
Despite common predictions that Cardano should rally as long as the upgrade goes smoothly, the reality might be different.
Firstly, it is worth noting that enthusiasts had similar expectations for ETH price prior to the Ethereum Merge. However, so far, those expectations have failed to materialize.
Additionally, the Vasil hard fork will be coming on the heels of the Feds meet between September 20 and 21. And without a doubt, that meeting wields big power over the general crypto market. So, ADA could catch a stray bullet from decisions around interest rates.