Cardano (ADA) has found itself at the center of attention lately, with prominent crypto analysts like Ben Armstrong (Bitboy) and Dan Gambardello offering optimistic predictions for its future. While their outlooks differ in approach, they both expect ADA to go up, restoring the hope of the determined community.
Armstrong’s Optimistic Vision
Ben Armstrong, one of the most prominent crypto influencers, shared a bullish prediction for ADA, envisioning a staggering 2,000% surge to reach $11.
Interestingly, Armstrong omits detailed analysis supporting his claim, instead referencing a previous price prediction by Ali Martinez (@ali_charts) for ADA reaching $7. Ali based his prediction on historical patterns, observing similarities between ADA’s current behavior and its late 2020 trajectory.
The analyst showed that Cardano (ADA) is currently in a consolidation phase, very similar to the consolidation phase from 2020. Should history repeat itself, Ali believes ADA could see an upward trend resuming in April, culminating in a $7 price point.
Gambardello’s Technical Insights
Dan Gambardello, founder of Crypto Capital Venture, adds further fuel to the bullish fire, predicting ADA’s ascent to $11 during the next bull market. However, unlike Armstrong, Gambardello delves deeper, providing technical justifications for his optimism.
He emphasizes the significant functional advancements Cardano has witnessed since the previous bull run, particularly the features supporting a burgeoning decentralized finance (DeFi) ecosystem on the network.
Drawing parallels between Cardano’s current state and Ethereum’s past bull run, Gambardello suggests ADA could replicate its predecessor’s explosive growth.
Preparing for the Bull Run
Gambardello also provides intriguing insights into Cardano’s potential preparation for the upcoming bull run, triggered by the anticipated Bitcoin Halving event.
In a recent post, he highlights ADA’s historical tendency to cool off before the Halving event, interpreting this as a bullish signal for an impending upward surge.
While acknowledging the possibility of a 30-40% dip as ADA consolidates with Bitcoin and the broader market, Gambardello expresses confidence in the digital asset’s long-term trajectory, even in the face of a short-term decline.
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Current Market Landscape
Despite the bullish predictions, ADA’s current price of $0.4835 reflects a 5.07% decline over the last 24 hours. However, there is still hope, as a top crypto analyst recently set the timeline for the crypto to begin a massive surge.
The underlying sentiment surrounding Cardano remains positive, fueled by the anticipation of upcoming developments and the optimistic vision shared by prominent analysts.
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
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