Cardano (ADA) Enthusiasts Predict New All-Time High as Chang Hard Fork Looms

While other cryptocurrencies are bracing for an extended price dip, Cardano (ADA) enthusiasts are rubbing their hands in glee over the prospects of an iconic rally

Cryptocurrency enthusiasts are eagerly awaiting the arrival of the Chang hard fork on the Cardano (ADA) network, an event that is widely expected to have a profound impact on the price of the native token.

According to a recent report by U.Today, members of the Cardano community are optimistic that the hard fork will trigger a historic rally that will propel ADA to a new all-time high.

The anticipation stems from the belief that the introduction of decentralized governance on the Cardano network will be a pivotal moment in its evolution. The last major hard fork, Alonzo, which brought smart contract functionality to Cardano in 2021, had a significant effect on ADA's price.

During that period, ADA price surged from lows of $0.2 to reach an all-time high of $3.10, a remarkable increase of over 1,400%. The asset outperformed even Bitcoin (BTC) during that time, with investors speculating on further gains that could lead to prices of $5 by the end of 2021.

Interestingly, both the Alonzo and Chang hard forks have encountered delays in their respective timelines. Alonzo faced several setbacks in the lead-up to its launch, while Chang has already hit a minor roadblock by failing to meet its Q2 deadline.

However, analysts are drawing parallels between the two events, noting that the delays could ultimately work in favor of ADA's price appreciation.

As the anticipation builds, some pundits are enthusiastically speculating that the upcoming hard fork could have a similar price impact as Alonzo.

If this scenario unfolds and the price increase is proportionate to that observed during the Alonzo hard fork, ADA could soar to highs of $5.7 by the time Chang is fully priced in, marking an astronomical rise of 1,400% from current levels.

However, it's important to note that skeptics remain cautious, arguing that the oscillations in Bitcoin's (BTC) price movements could ultimately affect the final pricing for ADA.

Furthermore, Cardano founder Charles Hoskinson has disputed claims that the Chang hard fork was originally scheduled for Q2, asserting that news outlets may have misinterpreted his earlier statements.

"I never said June. That's a misquote. A fork ready node is ready and wating for 79 percent of the stake pool operators to test and update," Hoskinson clarified in a recent statement. "As I said, in the video, this generally requires a month."

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