Deep learning algorithm predicts Cardano (ADA) price for December 31, 2022

As traders kick off the last month of 2022, Cardano (ADA) is still among the top ten biggest cryptocurrencies by market capitalization, despite being affected similarly to the rest of the market by the aftermath of the FTX crash. Currently, the ninth largest asset by market cap is predicted to increase its value by over 30% by the end of the month, according to NeuralProphet's PyTorch-based price prediction algorithm that uses an open-source machine learning framework. The deep learning algorithm forecasts that ADA will trade at $0.42 by December 31, 2022, a 32% increase from its price of $0.318 at the time of publication. Even though it is not a perfect forecast of future values, the model spanning exhibited a fair track record of accuracy up until the sudden market collapse of the algorithm-based stablecoin project TerraUSD. Since the cryptocurrency market has recently shown signs of recovery, investors are looking to the performance of assets like ADA to make predictions about its price over the next month. Cardano is changing hands at $0.318, up 1.48% in the last 24 hours and 1.67% across the previous week, with a total market cap of $10.9 billion, according to Finbold data.