There are all kinds of bullish predictions about the prices of digital sets these days. Cardano also sees some of these thoughts, and you can check out the latest one below.
A 624% surge for ADA is realistic for this bull cycle
A really optimistic prediction has been revealed by crypto analyst and trader Benjamin Cowen who recently said that a 624% increase for Cardano is “realistic” for the smart contracts platform this bull cycle.
ADA has been able to surge a lot this month as the proof-of-stake blockchain platform nears its much-publicized Alonzo upgrade, currently scheduled for next month.
At the moment of writing this article, ADA is trading in the red, and the digital asset is priced at $2.59. ADA is up a whopping 124% in the past 30 days, according to CoinGecko.
Cowen believes that the coin is only just getting started.
He said that if ADA were to surge to its prior ATH in terms of Cardano/Bitcoin (ADA/BTC) pairing valuation, the coin could go up another 54% against the leading crypto asset.
That puts ADA around $4.50, according to the crypto analyst.
On the other hand, he made sure to point out the fact that if Bitcoin goes up 2x during this bull cycle, ADA could reach $9. More than that, if Bitcoin reaches $150,000, then ADA could be in the $13-$14 range.
“That would just be simply going back up to the prior all-time high against the ADA/Bitcoin valuation. Clearly, we could exceed it. And that’s why… if we exceed it, potentially we could go higher than these levels. Maybe we could go to $15, $16, up to $20 or something. That would be the highest I can imagine…”
He continued and said the following:
“That $10-$20 range is sort of what I would consider to be too much for the market to continue to bear without having a substantial pullback.”
A move to $20 represents a 624% surge for Cardano from its current price of $2.76.