Cardano has been in the spotlight for a while now, and the digital asset ADA is also making headlines.
Now, it’s been revealed that crypto strategist and influential trader Michaël van de Poppe is long-term bullish on Cardano (ADA) and he just revealed his massive price target for the smart contract platform.
In a new video, Van de Poppe tells his 31,700 subscribers that the 2017 crypto bull market will pale in comparison to the current bull cycle.
“Given that we are inside a very strong fundamental period for cryptocurrencies in general, overall this bull phase that we had in 2017 is going to be minimal to the one in the cycle that we have right now,” he said.
He continued and analyzed the total value of the Dotcom bubble of the late 1990s to early 2000s and used it to predict the future valuation of the entire crypto market including Bitcoin (BTC) and Cardano.
“The current evaluation of the entire market cap is $2 trillion, while the Dotcom bubble which was the internet, which is probably less valuable than the entire blockchain can create with reshaping the financial system, $10-12 trillion is still 6x from here,” he said.
He also pointed out that “So if you anticipate such as 6x minimum on the market, Bitcoin could run to $400,000 almost, $330,000. And if you derive that price analysis on Cardano, a 6x from here would put Cardano [at] $7.00 already.”
We suggest that you check out the video above in order to find out more about his explanations.
Cardano in the news
Cardano hits the spotlight again after the Foundation dropped an important message on their social media account. Check it out below.
ICYMI: Native tokens will soon bring multi-asset support to #Cardano, allowing users to create uniquely defined custom tokens and carry out transactions with them directly on the Cardano #blockchain. https://t.co/pRYhBbBKn4
— Input Output (@InputOutputHK) February 21, 2021
The official post notes that there are new features that will allow users to choose simple and powerful tools to bring their assets to life on Cardano.