Cardano (ADA-USD) price predictions are worth diving into on Thursday after a U.S. Federal Reserve meeting yesterday.
That meeting saw the Fed increase interest rates again, which sparked a crypto rally today. That comes as much of the stock market starts to recover from the effects of the Covid-19 pandemic. Fears of a looming recession have also been weighing markets down.
Rising interest rates are likely to stick around as well with plans for more increases in the future. Federal Reserve Chair Jerome Powell said as much yesterday with expectations to increase rates again in June and July.
With more interest rate increases on the horizon, it’s possible the recovering economy will continue to bring additional crypto rallies. That means it’s worth checking in on how this will affect Cardano price predictions.
Cardano Price Predictions
- CryptoNewZ starts us off with a price prediction range of $1.20 to $1.50 in 2023.
- CoinPedia is next up on our list with the publication putting out a price target of $1.47 for ADA in 2023.
- WalletInvestor closes out our price predictions for Cardano today with a one-year forecast of $1.371 per coin.
It looks like ADA is set to continue increasing over the next year. If economic recovery is better than expected, we might even see a few more rallies that could speed up how fast it reaches the expected price targets above.
ADA is only up slightly as of this writing but saw a stronger surge earlier this morning.
Crypto traders looking for more market news are in luck!
We’ve got all the most recent crypto news investors need to know about for Thursday! A few examples include what the Fed meeting is doing to Bitcoin (BTC-USD), USD Coin (USDC-USD) struggling to keep up with rivals, and oversold cryptos to consider adding to your portfolio. You can read up on these subjects at the links below!
More Crypto News for Thursday
- Can Bitcoin Continue to Rally After the Fed’s Rate Hike?
- USD Coin Battles To Keep Its Place In the World of Stablecoins
- 3 Oversold Cryptos to Buy Now
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.