Cardano: Factors That Could Drive ADA Price As High As $12
25 Setembro 2023 - 8:00PM
NEWSBTC
The Cardano community has been one of the fastest-growing in the
crypto space and this has shone a heavy spotlight on the ADA price.
With expectations mounting already even amid the crypto winter,
there are key factors that stakeholders believe could drive the
altcoin’s price as high as $12. ADA Price Could Reach $12 In the
last bull market, the ADA price went on a tremendous rally that saw
the coin rise from as low as $0.03 to as high as $3.10 at its peak.
This price action cemented the token as one of the winners of the
bull, and some investors believe that the coin could be poised for
another repeat of this price action. One X (formerly Twitter) user
has given some points as to why this could be the case. Related
Reading: Shiba Inu (SHIB) Burn Rate Sees Exponential 627% Jump In
the post, the user points to the current state of interaction and
sentiment in the crypto market right now, which they refer to as
brutal. However, they do not believe that this will always be the
way things will be. According to the user, a quick change in the
interaction and sentiment would lead to a rapid price increase. At
this point, they believe that most investors will end up entering
the asset at a much higher price of $3 and above. This would put it
at its previous all-time high. However, it doesn’t end there. They
put forward that at the end of the next bull market, the ADA price
would be between $8 and $12. $ADA will be a top mover in the bull
mrkt once again But most will be jumping in above $3 Interaction
& sentiment out here in #crypto is brutal at this point But
this will change very quickly – and when it does there will be
drastic price movements that most won’t be able… — ADA WON’T BE
UNDERVALUED FOREVER (@ADA_ONEVETCOTI) September 23, 2023 As with
any forecast, a timeframe is often asked and they responded that
they expect this to happen in the second quarter of 2025. This
would coincide with the current 4-year cycle that usually sees
prices of cryptocurrencies topping out by Q2 and Q3. ADA wavers
amid expectations | Source: ADAUSD on Tradingview.com Cardano Is In
Better Shape A prominent Cardano influencer has also painted a
bullish picture for the digital asset. @cardano_whale, an account
that boasts over 137,000 followers on X, said in a tweet that the
Cardano network is currently in better shape than it has ever been.
Related Reading: Is Cardano (ADA) The Worst Investment Of 2023?
Here’s What The Data Says They urged investors who have been
increasingly critical of the network to think if they are that way
because they are projecting their emotions from the ADA price
action onto the network itself. “If you’ve noticed yourself become
increasingly negative about it over the last year or so, consider
that you might just be projecting emotions from price action onto
it,” the post read. Although ADA has not seen the most impressive
performance, it has not deterred bullish predictions from analysts.
One analyst explained that ADA at $0.25 was a prime accumulation
price and that the price of the digital asset could climb as high
as $5. Follow Best Owie on X (formerly Twitter) for market
insights, updates, and the occasional funny tweet… Featured image
from Bitcoinist, chart from TradingView.com
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