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Cardano ADA bull

Crypto Analyst Puts ADA Price At $5, Here’s When

Best Owie
by Best Owie
2 years ago
·
Posted in Cardano
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Amid the bearish trend that has engulfed the ADA price, a crypto analyst has come forward to present an interesting bull case for the crypto’s price. In the prediction made on X (formerly Twitter), the analyst Kara Szabo points out that they expect the price to rise as much as 2,000% from its current level and a possible timeline is presented.

ADA Price Could Rise As High As High

The analyst points to the performance of ADA in the last bull market as a pointer toward what is to come. However, this is not the only reason for the bullish prediction as she also notes the token’s supply and initial distribution as a good reason for this stand.

Related Reading: Dreaded Bitcoin Death Cross Returns: Here’s What Happened The Last Time

Szabo explains that the initial distribution of ADA’s 45 billion supply was very good. Also, a good portion (30.90%) goes to staking rewards which enable holders to earn between “3% to 6%” gains while waiting for the next bull market to roll around and prices begin to recover.

Another important factor in the prediction is the Cardano community which has always stood firmly behind the ADA token regardless of price. The community has often been referred to as being ‘cult-like.’ But nevertheless, Szabo believes this is one of the reasons that the token will thrive.

“Unlike other crypto communities they are friendly, honest, helpful, and growing,” the post read.

When Will ADA Reach $5?

After presenting her bullish thesis for the token, the crypto analyst went on to tell her over 38,000 X followers that she expects the ADA price to reach as high as $5. She points out that this would mean a 20x from the current ADA price, which is a good return for any token.

As for when this will happen, Szabo pointed toward the next bull market for the timeline. Now, if the four-year crypto bull market cycle holds, then the ADA price could reach this price point by 2025 which is the expected peak of the bull market. Such an occurrence would point to a two-year timeframe for this prediction.

The analyst explains that ADA ran to a new all-time high of $2.96 in 2021 after hitting a previous all-time high of 1.18% in January 2018. This pattern points to at least double the previous high, which makes Szabo’s prediction conservative but achievable.

Related Reading: FTX’s Sam Bankman-Fried Receives Shocking Response To Pretrial Release Request

Szabo concludes the post by acknowledging higher predictions that have come from other analysts. She puts forward that investors should have ADA as part of their portfolio. However, she also recommends diversification.

Others are predicting $ada to hit $10. That would be an insane 40x from current price. I always recommend diversity, and strongly suggest you have a fraction of your portfolio in $ada. Now is the time to buy, stake, and wait for profit!

Presently, the ADA price is trending just above $0.25. This represents a 91.98% drop from its $3.10 all-time high from September 2021.

Cardano ADA price chart from Tradingview.com (Crypto analyst)

ADA price drops below $0.25 | Source: ADAUSD on Tradingview.com
Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from CoinMarketCap, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Best Owie is a Managing Editor at Bitcoinist with extensive experience and a proficient expert known for crafting captivating and insightful content. Best boasts over six years in the crypto sector, and has supervised the conception and publication of thousands of articles. Best is also a content and marketing strategist with the ability to make sure your content reaches the right audience and beyond. In every aspect, Best stands out as a consummate professional, always striving for unparalleled excellence both within and outside the workplace.

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