The artificial intelligence (AI) Grok, developed by the subsidiary xAI, predicts the price of the cryptocurrency Cardano (ADA) by the end of 2024. Cardano, expanding its decentralized finance (DeFi) ecosystem, faces competition in the rapidly growing cryptocurrency landscape.

Grok AI, using real-time data from the social network X (formerly Twitter), predicts that ADA will trade in the range of $1.20 to $1.60 by the end of 2024, representing a steady growth of 130% to 207% compared to the current price of $0.52 per token. This forecast is based on the potential for widespread adoption, growth in the DeFi sector, and the overall recovery of the cryptocurrency market.

In the best-case scenario, Grok predicts the ADA price at $2.02, but mentions positive expectations related to Goguen, activated in September 2021, indicating the possibility of errors and outdated information in AI forecasts.

On the other hand, Grok's bearish forecast for Cardano in 2024 is $0.35, based on potential increased market competition, regulatory issues, and unforeseen technical problems. If the market experiences a downturn or Cardano faces significant setbacks, the price could fall to this level.

The current downward trend of ADA after losing support from an ascending triangle aligns with Grok's bearish forecast. However, despite the sophistication of the AI model, investors are advised to be cautious with its predictions and conduct their own research before making financial decisions.