Cardano (ADA) Price Prediction: Analyst Forecasts $11 in Next Bull Cycle
A popular crypto analyst, Dan Gambardello, has made a bullish prediction for the price of Cardano (ADA), stating that it could surge to $11 in the next extended bull cycle. This represents a potential gain of 1700% from its current price level.
Prediction Based on Historical Price Analysis
Gambardello’s prediction is not arbitrary but is based on historical data and past actions of ADA. He shared a video showing that ADA’s price has always correlated with Ethereum’s (ETH) past performance. In the previous bull run, ADA reached its all-time high of $3.10, which mirrored ETH’s performance in 2017 when it reached a market cap of $123 billion. If this correlation continues, ADA could reach a market cap of $400 billion by 2025.
Furthermore, ADA’s blockchain has grown since then, making it one of the fastest-growing networks in terms of DeFi and smart contracts. If history repeats itself, ADA could potentially reach a market cap of $409 billion by 2025, putting its price at over $11.
Current State Of Cardano
Currently, ADA is experiencing a gain of 13.81% in the past 24 hours, driven by whale transactions worth $1.5 billion. The crypto has reached a new yearly high at $0.6776 and is currently trading at $0.6527. This represents a significant increase from its December open of $0.376.
According to Gambardello, Cardano is currently at a decision point between continuing to increase to $0.75 or retracing to $0.41.
Hot Take: ADA’s Potential Surge to $11 in Next Bull Cycle
Based on historical price analysis and correlation with Ethereum’s performance, Cardano (ADA) has the potential to surge to $11 in the next bull cycle. This prediction by analyst Dan Gambardello is supported by data and past actions of ADA. With its growing blockchain and advancements in DeFi and smart contracts, ADA could reach a market cap of $409 billion by 2025. Currently, ADA is experiencing significant gains and is at a decision point between further increases or retracement. Keep an eye on ADA as it continues its upward trajectory.
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