As speculation about Cardano’s potential rally continues to grow, analysts have made bold predictions about the cryptocurrency’s future performance. Some experts believe that Cardano (ADA) could emerge as one of the top performers this year, particularly when the bull market reaches its peak. With this optimism in mind, analysts have made ambitious predictions for Cardano, with some suggesting that ADA could reach a price target of $12.8.
One such prediction comes from Dan Gambardello, a renowned investor and founder of a crypto capital venture. Gambardello believes that ADA could eventually reach $12.8 if its price consistently doubles, starting from its current value of $0.8. On the other hand, market watcher Ali Martinez has a slightly less ambitious prediction, speculating that ADA could reach $5 by the end of the year.
Given these predictions of a potential surge to $5 and $12.8, many Cardano investors are intrigued by the possibility of earning a significant return on their investments. But how much ADA would one need to acquire now in order to make a profit of $1 million if these predictions come true?
To become a millionaire if ADA reaches $5, an investor would need to acquire 200,000 ADA. With ADA currently priced at $0.6218, this would amount to an investment of $124,360. If the price of ADA eventually reaches $5, as projected by Martinez, this investment could turn into $1 million. In this scenario, ADA would need to rally by 704.1% from its current price to reach the $5 target.
For those aiming to become millionaires if ADA surges to $12.8, the prediction made by Gambardello, a larger investment would be required. To make a return of $1 million in this case, an investor would need to acquire 78,125 ADA. At the current price, these coins would be valued at $48,578. If Cardano manages to reach the ambitious target of $12.8, the $48,578 investment in ADA would yield a $1 million return.
In addition to these predictions, popular crypto influencer Ben Armstrong, also known as BitBoy, highlighted three scenarios in which investors could become millionaires through Cardano. In the first scenario, BitBoy suggests that a market cap surge to $175 billion, bringing the price to $5, could result in a profit of $1 million for those holding 200,000 ADA. Similarly, he speculates that investors with at least 125,000 ADA could become millionaires if the price reaches $8, while those with 100,000 ADA could achieve the same result if ADA reaches $10.
BitBoy also believes that Cardano could surpass $3 during the peak of the bull run, citing factors such as the Hydra upgrade and increasing interest from emerging economies as potential catalysts for a rally.
It is important to note that the information provided in this article is for informational purposes only and should not be considered financial advice. The views expressed are solely the author’s opinions and do not reflect the opinions of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions, as The Crypto Basic is not responsible for any financial losses that may occur.
