The cryptocurrency market has experienced a significant downturn from its late 2023 highs, with many assets losing considerable value. Cardano (ADA), for instance, has retraced over 51% from its December 3 high of $1.327. Factors such as sideways macroeconomic conditions have contributed to this sharp pullback. However, despite the market’s struggles, analysts and crypto enthusiasts remain optimistic about Cardano’s future, especially over the mid to long term.
One surprising voice in favor of Cardano’s future growth is millionaire investor Alex Becker. Once a vocal skeptic of ADA, Becker now predicts a monumental rise in its price. In a recent YouTube commentary, Becker shared his top coins that he believes will see a fifteenfold increase by 2026, with Cardano making the cut. The asset’s potential, according to Becker, is rooted in its impressive network properties.
Becker highlighted that Cardano’s layer 1 blockchain is “fast as hell” and stands out for its decentralization, positioning it as one of the most promising blockchain projects alongside Ethereum. He also pointed out that ADA has reached “insane bargain levels,” making it a highly attractive investment at current prices. Furthermore, Becker emphasized the growing momentum around the Cardano ecosystem, citing factors like increasing institutional interest, recent ETF filings, and ADA’s inclusion in the US crypto reserve.
The bullish sentiment surrounding Cardano is also reflected in social sentiment metrics, with recent reports showing multi-month highs in positive chatter around the network. This growing optimism could catalyze a significant rally in the near term.
Becker predicts that ADA could rise from its current price of $0.648 to anywhere between $3 and $5, marking an impressive uptrend of up to 672%. Other analysts, including Madmaudo and BitBoy, also forecast similar price movements, with predictions of $3 and $5 for ADA in the upcoming bull cycle.
Also Read: Cardano’s (ADA) Morning Star Signals Bullish Turn: Is $0.73 Within Reach? Analyst
With its robust network and growing ecosystem, Cardano remains a strong contender in the crypto space.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
