Greed

Cardano

Cryptocurrency

2024

<div class="finbold">
 <p class="paragraph">Still considered an Ethereum (ETH) killer, the native token of the Cardano blockchain – ADA – is no stranger to sudden <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> rises and falls. Since its launch in 2017, it saw major surges and nearly as large declines, having – in 2021 – skyrocketed quickly to $3 before stabilizing below $0.5 by mid-2022.</p>
 <p class="paragraph">Last year, however, saw rampant speculation give way as the security, scalability, and sustainability-focused ecosystem finally took off, and after following an overall downward trajectory for more than a year, ADA surged in the final quarter.</p>
 <p class="paragraph">By the start of 2024, however, the cryptocurrency entered into a correction and, with it declining nearly 20% since January 1, Finbold decided to consult the AI-driven predictive algorithms of <em>CoinCodex </em>on how ADA might fare by the end of February.</p>
 <h2 class="wp-block-heading" id="h-ai-sets-ada-price-at-the-end-of-february">AI sets ADA price at the end of February</h2>
 <p class="paragraph">The machine <a rel="noopener noreferrer nofollow" title="learning" href="https://thebittimes.com/tag/learning.html">learning</a> algorithms of <em>CoinCodex </em>assess that ADA is likely to trade with significant volatility throughout February – albeit on an overall upward trajectory. They estimate the token will rise 8.53% from the press time <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of approximately $0.5 and find itself at $0.543316 on February 29.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/HD56K3o5B6NiTUqIMidKxemMBFLjnSY8hv6gxUFoGpgJntH9e9eoDbkdO0-AZjqSnqE_R4a69EwR3AXGkawxct8ccFikKoccyyM49f151fb2owxLapiMznp7kNw_ZImoEHiRLePOec37n9dhAfqItnQ" alt>
  <figcaption class="wp-element-caption">
   ADA price prediction for February 29, 2024. Source: CoinCodex
  </figcaption>
 </figure>
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 <p class="paragraph">The platform also estimates that ADA will fall slightly in early March and find itself closer to $ 0.519478 in one month’s time.</p>
 <p class="paragraph">Given that the token had 14 green days out of the last 30, it, perhaps, isn’t surprising that the crypto market sentiment on it is gauged as neutral. The “Fear &amp; Greed index” – the index that tracks investor attitude toward an asset – however, records “greed” when it comes to ADA.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/fTyOv2M8coMDxT99aNqV6K-ToHl5qWlYVgbeIH7p6N1X5Ag9mbgesHIvEgbPTYezVICa-mpu5MpRDbl3IWvhj7PqQUcyctzR86zwWsnRTRGRPE6mJiZGxAIU-TGCzK90VN0cKQkOtrT2IZbCNHwvELg" alt>
  <figcaption class="wp-element-caption">
   ADA metrics and sentiment. Source: CoinCodex
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-ada-price-analysis">ADA price analysis</h2>
 <p class="paragraph">While the future fortunes of ADA are hard to predict, it has recently offered a mostly strong performance. In total, it is up 27.88% in the last 52 weeks, but given the decisive break from its long downtrend in October, it is as much as 70.36% up in the last 6 months.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/8k4Yt9-XVM1XDmphZoGATK7o07l-Wbfxkl81RKx_NFlgALBJRWK0kF2GFxfZMBfZykEpvwae_v8GU3OnPagOT5HLg-BHkR7QB_Y9xLRw53qquy0iFj5kUibPWmszkhxbn0imPw-_46ijs4s7iUcm2W4" alt>
  <figcaption class="wp-element-caption">
   ADA 1-year price chart. Source: Finbold
  </figcaption>
 </figure>
 <p class="paragraph">Zooming into 2024, the token has been in a volatile period of correction following its surge that lasted from mid-October to mid-December and is down 19.62% year-to-date (YTD). More recently, it has again started rising – albeit slowly – and is 0.63% in the green in the last week but 0.53% in the red in the last 24 hours, having dropped to $0.50.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/machine-learning-algorithm-sets-cardano-ada-price-on-february-29-2024-tbt78880.html">https://thebittimes.com/machine-learning-algorithm-sets-cardano-ada-price-on-february-29-2024-tbt78880.html</a></p>

Machine learning algorithm sets Cardano (ADA) price on February 29, 2024

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