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11/22/2023

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Cardano Forecast: Crypto Analyst Identifies The Event That Could Send ADA Price To $11

Dan Gambardello, the founder of Crypto Capital Venture, has provided some insights into the future trajectory of Cardano (ADA). Interestingly, he hints that the crypto token could reach unprecedented heights...

Cardano Forecast: Crypto Analyst Identifies The Event That Could Send ADA Price To $11

Dan Gambardello, the founder of Crypto Capital Venture, has provided some insights into the future trajectory of Cardano (ADA). Interestingly, he hints that the crypto token could reach unprecedented heights that will change the lives of Cardano holders

When ADA Price Will Rise To $11

In a video shared on YouTube, Gambardello sounded bullish about the future of ADA as the crypto industry awaits the next bull run. According to him, this is when ADA will rise to as high as $11 at a market cap of $400 billion market cap then. He hinted that this bull run is likely to happen after the next Bitcoin Halving event.

The crypto founder also noted how the decentralized finance (DeFi) landscape on the Cardano network has grown since the last bull run. As such, he expects that this “new ecosystem” powered by Shelley and innovations like the multi-asset ledger, positions the token for significant growth in the next bull run. Shelley is the Cardano era, which focused on making the network a decentralized economic system.

Basically, Gambardello was alluding to the fact that Cardano has gotten better since the last bull run and now provides more utility to its users. To highlight ADA’s potential, he stated how the token rose from about $0.12 to $3 during the last bull run without having any of these “developmental milestones” in place. Therefore, a rise to $11 is feasible with the immense utility in place now. 

The Cardano-Ethereum Comparison

Gambardello drew a comparison between Cardano and Ethereum. He went as far as asserting that the former was more sound, secure, and decentralized. Despite his assertion, he recognizes the fact Cardano is like a cycle behind Ethereum. In line with this, he expects that Cardano’s success is going to be similar to the one Ethereum enjoyed when it first established its DeFi ecosystem.

The crypto analyst also mentioned how undervalued Cardano is while making a comparison between it and Ethereum. In his opinion, Cardano has everything something like Ethereum has but better. He also believes that the innovations on the Cardano network are happening in a more secure and decentralized way compared to its counterparts. C

While Gambardello seems to think that ADA will perform so well in the next bull run, another crypto analyst will beg to differ. This crypto analyst happens to be Lady of Crypto, who once outlined five reasons why she doesn’t believe ADA will perform well during that period. Interestingly, she stated that Cardano has a slow development pace, and that is one of the reasons it won’t thrive.

Cardano ADA price chart from Tradingview.com

ADA price stalls at $0.369 | Source: ADAUSD on Tradingview.com

Featured image from AMBCrypto, chart from Tradingview.com

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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ORIGINAL SOURCE

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