Cardano (ADA), ranked as the eighth-largest cryptocurrency by market capitalization, has followed the recent bullish and subsequent bearish trends observed in the crypto market alongside Bitcoin (BTC).

Since the beginning of the year, Cardano has seen an increase in price of over 22%, showcasing its sustained strength. This positive performance has prompted numerous financial experts to offer their predictions regarding Cardano’s price by the end of 2024.

Analyst Projections: A Diverse Range of Possibilities

Financial analysts anticipate ongoing growth for Cardano throughout 2024, with projections spanning from $0.945 to $11. Here's a breakdown of some noteworthy forecasts:

Elliott Lee (Techopedia): Anticipates an average of $0.95, with a prediction range of $0.45 to $1.55 by year-end. Lee's forecast is influenced by significant developments planned for Cardano’s Voltaire phase, such as on-chain governance implementation, a treasury system, and increased decentralization.

Finder Panel: Estimated at $0.945. Although the panel of 29 specialists did not provide a specific year-end 2024 prediction, their 2025 forecast of $1.57, combined with previous projections, suggests a value of $0.945 for Cardano by the end of 2024.

Ben Armstrong (BitBoy Crypto): Offers a broader range of predictions, from a bearish scenario of $1.75 to a bullish outlook of $18, with a realistic expectation of $11 by December 2024. Armstrong draws parallels between Cardano’s potential growth and its surge in 2021 from under $0.05 to nearly $3.

Current Status and Future Prospects

As of March 19th, 2024, Cardano is trading at $0.6622, experiencing a slight daily loss of 2.10% and a weekly decline of 14.33%. Nevertheless, it maintains a positive monthly gain of approximately 8.43%.

Considering these expert forecasts and Cardano’s ongoing development initiatives, the possibility of achieving one of these targets remains feasible. Continued network advancements and favorable market trends could potentially propel ADA by as much as 150% in the near term.

It's important to note that these are merely predictions, and the actual price of Cardano by the end of 2024 could differ significantly. The cryptocurrency market is known for its volatility, and unforeseen events can have a substantial impact on prices. Therefore, thorough research is advised for investors before making any investment decisions.