Alongside other cardano news today this week Cardano ADA has a weekly candle of green close with an 14percent price increase.
But, this week too, Cardano coin’s price is expected to see some movement due to this being the week that majornet Vasili upgrade is expected to take place following the announcement of the successful hard forking of the testnet on July 3rd.
These are the main advantages from these benefits of Vasil upgrade as stated by Tim Harrison Vice President of Community & Ecosystem @ Input Output Global in his blog post.
What do they mean by Cardano price to come in the future ?
Price of the Cardano is known historically to respond in response to Hard Fork events.
On February 16, 2021,the Mary Hard Fork mainnet launch was announced the March 1st 2021and as the chart illustrates, the cost of USDT/ADA began to increase prior to the date of launch February 24 2021which led to the price upwards until the day of launch, after which it fell by 21% or more.
The chart below illustrates the price’s movement in the same direction starting on the day of announcement of the Alonzo Hard Fork launch time into the actual day launch . But, this time, the price began falling just a week before the launch because of the spread of FUD which caused the market to fall.
On June 6 2022,the Vasil update was revealed that would begin via the internet on June 29 2022causing it to increase for a brief period as shown in the graph above prior to dumping in response to the negative news that impacted the entire market.
On the 20th of June in 2022,the 2022mainnet Vasil’s fork was scheduled to be delayed to make sure that the upgrade is completed correctly. However , the estimated new launch date will occur in the final month of July.
On July 3, 2022,the testnet’s hard forking success was announced, causing to the price slowing rising, before recovering and rising.
In light of Cardano ADA past behavior in the days preceding a Hard Fork event, it is anticipated to increase over the next few days until the date of the event and then drop following.
However, it shouldn’t be forgotten that similar patterns occurred during an economic bull market, while the the current market is a bear one that could affect the expected result.
