The Cardano price increase we’ve seen this week is a repeating trend in history as it builds to hard fork events.
Will ADA show the same price trend during a bear market?
The Cardano price has fallen by 9.4% in the past 24 hours. Currently, the price of 1 ADA token is around $0.57. This pullback in price comes after the coin gained more than 30% the day before.
The price seems to behave the same at the moment for hard-fork events. There have been three such moments in the history of the coin. It looks like the upcoming Vasil hardfork event could have a similar effect.
However, the previous three hard fork events were during a bull market, as opposed to the current emerging hard fork. This could mean that ADA is establishing a solid price floor to launch from this time around, rather than going straight into a bullish rally.