Possibilities abounds that the SEC would approve the Bitcoin ETF leading the cryptocurrency markets to rally upwards and so will Cardano.

However, there’s need to await an official confirmation from the SEC about the Spot Bitcoin ETF development.

Cardano (ADA) entered 2024 on a back foot with a price dip nearly 10% in the seven days. It furthered by remaining bullish for two consecutive days after reports regarding SEC’s disapproval of Bitcoin ETF surfaced.

The Bitcoin ETF briefing which was scheduled for January has kept the whole crypto market in anticipation, but with the knowledge of a possible disapproval, the market geared towards a down trend.

Cardano (ADA) 2024 Price Prediction 

Leading on-chain metrics and price prediction firm Changelly has painted a neutral picture for Cardano (ADA) in 2024. According to the price prediction, ADA might attain an high of $0.63 during Q2 of 2024.

If attained, an uptick and return on investment (ROI) of approximately 12% will be recorded from it current Price . Therefore, an investment of $10,000 could turn into $11,200 if the price prediction turns out to be accurate.

Nonetheless, the cryptocurrency markets are highly volatile and there is no guarantee that ADA will reach $0.63 soon. The cryptocurrency market cuts both ways delivering severe losses to investors and it is advised to lose only what one can afford to lose. It is then advisable to do thorough research before taking an entry position into Cardano (ADA) at the moment.

Also read: Cardano Whales Scoop 14 Million ADA, Gearing Up for $0.7?

Currently, cardano trades at $0.55 per token.