Cryptocurrency influencer Ben Armstrong, likewise known as “BitBoy Crypto,” recently shared his opinions on the capacity of Cardano’s ADA to create millionaires in the following bull run. Armstrong’s predictions, while optimistic, should be taken as his personal views and not financial advice.
Armstrong highlighted Cardano’s unique position in the cryptocurrency space. The decentralized blockchain tech project, co- established by Charles Hoskinson and Jeremy Wood, has been criticized for its slow development pace. Nonetheless, Armstrong thinks that Cardano’s longstanding approach and focus on emerging economies could make it a whole lot of player in the following bull run.
In a recent video, Armstrong pointed out that Cardano’s record-breaking peak was just over 3 dollars in September 2021. If ADA returns to this record-breaking peak during the following bull run, achieving millionaire status would must have a substantial ADA holding. Nonetheless, Armstrong thinks that ADA’s price could go up higher, making the millionaire milestone more attainable.
In 2021, Cardano (ADA) had a market capitalization of $177 billion. If the market capitalization were to return to even $50 billion, Armstrong implies that the price could triple, reaching about $1.50. Given Cardano’s influence in rapidly growing economies like Central America, Africa, and Southeast Asia, Armstrong argues that Cardano (ADA) is unlikely to be overlooked during the following bull run.
Armstrong further speculated that if the bull market top price could exceed 5 dollars, Cardano’s market capitalization would be able to $175 billion. At this price, holding 200,000 ADA would equate to a Million dollars. If Cardano (ADA) were to triple its previous market capitalization, an eight-dollar ADA would mean a $280 Billion market capitalization for Cardano (ADA). By Armstrong’s calculations, a Million dollars would then require holding 125,000 ADA.
Armstrong likewise mentioned the growing Non-Fungible Token (NFT) ecological system and the following Hydra upgrade as potential catalysts for ADA’s price. If ADA’s price were to go parabolic and threaten Ethereum’s market capitalization, surpassing $350 billion, the ADA crypto token could accomplish $10. This would mean that holding 100,000 ADA could potentially yield a Million dollars.
Although while Armstrong’s predictions are undoubtedly hyper-optimistic, it’s critical to remember that these are his personal views. As with any investment, potential investors should do their own research and consider their financial goals and danger tolerance.