Cryptocurrency influencer Ben Armstrong, likewise known as โBitBoy Crypto,โ recently shared his opinionsย on theย capacity of Cardanoโs ADA to create millionaires in theย following bull run. Armstrongโs predictions, while optimistic, should be taken as his personal views and not financial advice.
Armstrong highlighted Cardanoโs unique position in the cryptocurrency space. The decentralized blockchainย tech project, co- established by Charles Hoskinson and Jeremy Wood, has been criticized for its slow development pace. Nonetheless, Armstrong thinksย that Cardanoโs longstanding approach and focus on emerging economies could make it a wholeย lotย of player in theย following bull run.
In a recent video, Armstrong pointedย outย that Cardanoโs record-breakingย peak was just over 3 dollars in September 2021. If ADA returns to this record-breakingย peak during theย following bull run, achieving millionaire status would mustย haveย a substantial ADA holding. Nonetheless, Armstrong thinksย that ADAโs price could goย up higher, making the millionaire milestone more attainable.
In 2021, Cardanoย (ADA) had a marketย capitalization of $177 billion. If the marketย capitalization were to return to even $50 billion, Armstrong impliesย that the price could triple, reaching about $1.50. Given Cardanoโs influence in rapidly growing economies like Central America, Africa, and Southeast Asia, Armstrong argues that Cardanoย (ADA) is unlikely to be overlooked during theย following bull run.
Armstrong further speculated that if the bull market top price could exceed 5 dollars, Cardanoโs marketย capitalization wouldย beย ableย to $175 billion. At this price, holding 200,000 ADA would equate to a Million dollars. If Cardanoย (ADA) were to triple its previous marketย capitalization, an eight-dollar ADA would mean a $280 Billion marketย capitalization for Cardanoย (ADA). By Armstrongโs calculations, a Million dollars would then require holding 125,000 ADA.
Armstrong likewise mentioned the growing Non-Fungibleย Tokenย (NFT) ecologicalย system and theย following Hydra upgrade as potential catalysts for ADAโs price. If ADAโs price were to go parabolic and threaten Ethereumโs marketย capitalization, surpassing $350 billion, the ADA cryptoย token couldย accomplish $10. This would mean that holding 100,000 ADA could potentially yield a Million dollars.
Althoughย while Armstrongโs predictions are undoubtedly hyper-optimistic, itโs criticalย 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.
