Amid the downtrend that has gripped the ADA price, a crypto analyst has come forward to present an interesting bullish argument for the crypto price. In the forecast made on
The ADA price could rise so much
The analyst points to ADA’s performance in the last bull market as an indication of things to come. However, this is not the only reason for the optimistic forecast as it also sees the supply and initial distribution of the token as good reasons for this stance.
Szabo explains that the initial distribution of ADA’s 45 billion offering was very good. Additionally, a large portion (30.90%) goes to staking rewards, which allow holders to earn profits of between “3% and 6%” while waiting for the next bull market to begin and prices to begin to recover.
Another important factor in the prediction is the Cardano community, which has always stood firmly behind the ADA token regardless of the price. The community was often described as “cult-like.” Nevertheless, Szabo believes that this is one of the reasons for the token’s success.
“Unlike other crypto communities, they are friendly, honest, helpful and growing,” the post says.
When will ADA hit $5?
After laying out her bullish thesis for the token, the crypto analyst told 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 20x the current ADA price, which represents a good return for any token.
As for when this will happen, Szabo pointed to the next bull market as a timeline. Now, if the four-year crypto bull market cycle continues, ADA price could reach this price point by 2025, which is the expected peak of the bull market. Such an event would suggest that this prediction is limited to a two-year time frame.
The analyst explains that ADA reached a new all-time high of $2.96 in 2021 after reaching a previous all-time high of 1.18% in January 2018. This pattern suggests at least double the previous high, making Szabo’s forecast conservative but achievable.
Szabo concludes the post by acknowledging higher forecasts from other analysts. She suggests that investors should have ADA in their portfolio. However, she also recommends diversification.
Others predict $ada will reach $10. That would be an insane 40x the current price. I always recommend diversity and highly recommend keeping a portion of your portfolio in $ada. Now it’s time to buy, bet and wait to win!
Currently, the ADA price is just over $0.25. This represents a 91.98% decline from the September 2021 all-time high of $3.10.
ADA price falls below $0.25 | Source: ADAUSD on Tradingview.com
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Source : bitcoinist.com