Cardano (ADA) has recently captured the attention of investors due to its dynamic price movements and optimistic predictions. Analysts are speculating that ADA could potentially reach $10 or even $100 in the future, prompting many to wonder how much they should invest now in order to make $1 million later.
If ADA were to climb to $10 per token, several analysts believe that Cardano could surge to a range between $7.8 and $10. This projection is supported by historical data, which indicates a significant upward trend for ADA. Lucid, a notable market analyst, argues that ADA’s potential to reach $10 could be realized following the upcoming Cardano Chang update. This update, named after Phil Inje Chang, a former Product Manager for Voltaire at IOHK, is expected to drive substantial growth.
Another analysis by Martinez suggests that Cardano is on the brink of a major bull run, drawing parallels to 2019 when ADA experienced a 50% price correction before rebounding dramatically. Martinez believes that the recent 50% decline may signal a prime buying opportunity, similar to past trends that saw Cardano rebounding by over 4,095%.
Currently, ADA is priced at $0.4675 per token. To reach $1 million if ADA climbs to $10 per token, an investor would need to acquire 100,000 ADA tokens, amounting to an investment of $46,750 at the current price.
Looking even further into the future, some forecasts are even more bullish, suggesting that ADA could potentially reach $100 within the next two decades. Sources such as Changelly and Gemini support this prediction, indicating that ADA could enter the double-digit price range, ranging between $81.52 and $100.57 per coin.
Since 2018, ADA’s price has experienced an impressive 2,600% gain, solidifying Cardano’s position among the top ten cryptocurrencies by market cap. Despite these gains, analysts believe that the best is yet to come.
If ADA were to hit $100, an investor would need to invest $4,675 today to acquire 10,000 ADA tokens in order to become a millionaire. If ADA reaches this target, the investment would yield a return of $1 million.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not necessarily reflect the opinions of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic is not responsible for any financial losses incurred.