The price of Cardano, the third biggest cryptocurrency behind Bitcoin and Ethereum, will beat its own all-time highs by the end of the year, reaching $4 by the end of 2021.
This is the bullish prediction of Nigel Green, chief executive and founder of deVere Group, one of the world’s largest independent financial advisory, asset management and fintech organisations.
It comes ahead of Cardano’s long-awaited tech upgrade on Sunday September 12.
Last month, the deVere boss successfully predicted that the price of Cardano will reach all-time highs at the beginning of September, “hitting more than $3.” He was correct – it reached $3.10 on September 2.
Mr Green comments: “Cardano (ADA) is now the world’s third-largest crypto behind ‘scene stealers’ Bitcoin and Ethereum. Its price has increased by around 1668% during the year so far.
“This impressive momentum is set to gain further pace as we move towards the end of the year. I believe we can expect Cardano to hit fresh all-time highs, reaching more than $4 by the end of 2021.”
He continues: “The upward trajectory will be fuelled largely by Sunday’s highly anticipated ‘Alonzo’ tech upgrade. This overhaul will allow smart contracts to be built on the network, making the Cardano blockchain even more attractive to even more users.
“The major upgrade will give those who don’t necessarily have technical backgrounds the opportunity to create smart contracts. Smart contracts are pieces of code that allow individuals to enter financial agreements without the need for a centralised party.”
The deVere CEO, who launched the game-changing deVere Crypto app in 2018, adds: “There’s no doubt that smart contracts are going to revolutionise most sectors including finance, real estate, legal, healthcare, and gaming. And this is why Cardano is increasingly attractive for forward-thinking investors.”
In August, the long-term crypto advocate told the media: “There’s a now real sense it is about to break out.” This is a message he is now doubling down on.
He concludes: “Cardano launching smart contracts on Sunday will further galvanise its growing position in the crypto market.
“On the back of this considerable upgrade, it can be expected to grab significant market share and, as a result, its price will continue its upward trajectory for the rest of 2021 and beyond.”
