$ADA: Analyst Forecasts Cardano To Go As High as $9.24
Mitchell Bouchard, known as “Crypto Moose,” shared his insights and predictions for Cardano (ADA) in a recent YouTube video, focusing on future bull runs in 2024 and 2025.
Cardano Price Prediction:
- Bouchard predicts that Cardano could experience significant growth in the upcoming bull runs.
- He anticipates Cardano’s market cap might reach levels similar to Ethereum’s current market cap, which he estimates to be around $200 to $250 billion.
- Using this market cap projection and considering Cardano’s max supply of 45 billion ADA, with a circulating supply of 35.2 billion, Bouchard calculates a potential peak price of $9.24 per ADA token.
Investment Strategy and Profit Taking:
- Bouchard discusses his approach to investment and profit-taking, noting that it varies depending on the entry point in the market.
- For those who bought ADA at lower prices, he suggests that a price of $4 to $5 per ADA could be a good point to start taking profits.
- He emphasizes the importance of setting personal investment goals and adjusting strategies accordingly.
Market Analysis and Comparisons:
- Bouchard compares Cardano’s performance with other cryptocurrencies, noting its recent price movements and market trends.
- He expresses skepticism about certain other crypto projects while highlighting Cardano’s strengths.
- Bouchard also touches on Ethereum’s potential growth, predicting a significant increase in its market cap and price per token.
Personal Investment Philosophy:
- Describing himself as a macro investor, Bouchard shares his broader investment philosophy, which includes diversification beyond cryptocurrencies.
- He mentions his interest in NHL rookie cards, showcasing his varied investment interests.
Future Developments and Community Engagement:
- Bouchard discusses upcoming developments in the Cardano ecosystem, such as new blockchain projects and potential airdrops.
- He encourages community engagement, asking viewers to share their thoughts and predictions about Cardano’s future.
Closing Thoughts:
- In his concluding remarks, Bard reiterates his bullish stance on Cardano, suggesting a peak price of $9.24 per ADA and a more conservative estimate of $4 to $5 as a good profit-taking point.
- He encourages viewers to enjoy the fruits of their investments, whether it’s a modest dinner or a luxurious yacht, depending on their investment scale.
https://youtube.com/watch?v=6mECfqUyD3E%3Ffeature%3Doembed
Featured Image via Unsplash
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