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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Cardano Ready For 15x Move, Crypto Analyst Reveals The Major Drivers

Scott Matherson
Scott Matherson
1 year ago
4 mins read
Cardano

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Cardano (ADA) looks primed to make that move to the upside, with crypto analyst Javon Marks revealing what could make the crypto token see a 15x increase in its price. Marks’ analysis comes amidst recent price predictions, which paint a bullish outlook for Cardano. 

How Cardano Could See A 15x Increase In Its Price

Marks mentioned in an X (formerly Twitter) post that ADA has shown “major progress since breaking the resisting trend.” The crypto analyst also noted that the crypto token attempted to move over 200% toward the first target at $2.77709 and claimed that the recent pullback Cardano faced could strengthen it to achieve an even more parabolic rise.  

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Source: X

This development is why Marks believes Cardano could rise to as high as $7.80 from its current price, representing a 1,500% increase for the crypto token. A rise to that level looks more feasible, considering that crypto analyst Altcoin Daily also recently predicted that Cardano will rise to $9 in this bull run.

Meanwhile, crypto analyst Ali Martinez made an ultra-bullish case for Cardano, noting that the crypto token was currently mirroring its price action from 2019, when it made a price gain of over 4,000%. While Martinez acknowledged that history might not repeat itself, he suggested that Cardano could still make an impressive move similar to 2019. 

For Cardano to experience such parabolic moves, the crypto token needs to see a reversal in its current downtrend. Crypto analyst Trend Rider hinted that could happen soon, noting that ADA was still holding its support level. According to him, if Cardano can hold on to this support for 1 to 2 weeks, the bears will tire, and the crypto token will bounce from its current price level. 

Analyzing Cardano’s Bull Run

Dan Gambardello, the founder of Crypto Capital Venture, again suggested that Cardano’s price action in this bull run will likely mirror Ethereum’s in the last bull run. He noted that the former is currently around the level that Ethereum was at around the 2020 Bitcoin halving. As such, he expects Cardano to enjoy a similar success to the one Ethereum enjoyed in the last bull run. 

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The crypto analyst also assured that Cardano was still on track for its bull run, stating that it was also down over 90% from its all-time high (ATH) months after Bitcoin halved in the last bull run. As such, he still expects Cardano to make a run soon enough, just like it did in 2021. 

The crypto analyst hinted that Cardano’s bull run would likely begin during the Altcoin Season. However, he wasn’t sure when this Altcoin season would likely start since Bitcoin hit a new ATH before the halving (which has never happened before). He added that this Altcoin season might not come until December. For now, the analyst noted that patience is the name of the game. 

Cardano price chart from Tradingview.com (Crypto analyst)

ADA bulls struggle to hold $0.44 | Source: ADAUSDT on Tradingview.com
Featured image from LinkedIn, chart from Tradingview.com
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Scott Matherson
Scott Matherson

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.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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