31 May 2024
Crypto analyst Nick of the Cheeky Crypto YouTube channel has provided an ultra-bullish prediction for Cardano (ADA). The analyst also outlined factors that he believes could drive Cardano’s price to such heights.
Cardano Could Rise To $38 At Some Point
In a recent video on the Cheeky Crypto YouTube channel, Nick mentioned that Cardano could rise to $38 at some point in the future, although he admitted that it won’t be anytime soon. He highlighted Cardano’s technological advancements as one factor that could drive the crypto token to such heights.
The crypto analyst further claimed that, despite criticisms about Cardano, the network is well-positioned to become one of the leading chains because it boasts a technology built with the future in mind. As such, he believes that ADA has a good chance to stand the test of time and rise to $38 no matter how long it takes to attain such a price target.
Interestingly, crypto expert Jason Appleton believes that Cardano could come close to this price target of $38 in this bull run. He once predicted that the crypto token would reach $32 in this market cycle. He claimed this price level is attainable in the “most prime of conditions by the peak of this bull market cycle.”
Meanwhile, Nick highlighted the range between $5 and $12 as his “conservative” price targets for Cardano. He believes that the crypto token could rally to such heights soon enough, considering that altcoins are well primed for significant gains, especially given the run that Bitcoin and, more recently, Ethereum have had.
He added that the news around the Spot Ethereum ETFs could trigger these moves for Cardano and other altcoins. Meanwhile, Nick is also optimistic that Cardano will soon have its own ETF following the approval of the Spot Ethereum ETFs. The launch of a Cardano ETF is another factor he believes could trigger such rallies for the crypto token.
Patience Remains The Name Of The Game
Crypto analyst Dan Gambardello, the founder of Crypto Capital Venture, suggested in a recent X (formerly Twitter) post that patience is key as ADA holders await a significant rally from the crypto token. He reassured investors that Cardano would still have its bull run in this market cycle.
The analyst noted that Cardano was in a similar situation in the last cycle when it was down 90% from its all-time high (ATH). However, things turned around in the twinkle of an eye with the crypto token going on to enjoy a 3,000% price gain, rising from $0.10 to $3. He believes that Cardano could make such a run or even better in this cycle, noting that Cardano is more “secure, decentralized, and scalable,” this time around.