YouTube channel “Crypto ZX” has provided a compelling case for why Cardano (ADA) is poised for a massive surge in the coming months.
In a recent video, the analyst highlighted historical trends, emphasizing the potential for significant gains for patient investors. The analyst acknowledged the frustrations of newcomers amid the current price of Cardano.
According to CoinMarketCap data, Cardano trades at $0.538, with a significant 30-day decline of 15.56%.
However, drawing parallels with the past, the analyst pointed out periods of stagnation before the explosive growth witnessed in ADA. He compared ADA’s current trajectory with its bottom points in 2018.
Cardano’s Historic Surge
Specifically, data from market tracking resources indicated that Cardano ranged for multiple years before its historic bullish breakout. As of December 2018, ADA traded as low as $0.0282. The asset struggled to reclaim a leading decimal point until October 2020.
Following the breakout, Cardano went on to make a historic high as it entered the $1 threshold and beyond. It culminated in a $3.12 peak by 2021. Essentially, ADA’s growth rate from the low of $0.0282 to the peak of $3.12 translates to a 10,963% surge.
The key takeaway from the analyst’s insights was the importance of learning from past trends. Looking back at the 2018 cycle, the video emphasized that ADA saw 833 days of accumulation before the eventual surge to the new all-time high.
History Could Repeat
In parallel, the analyst pointed out that ADA has been undergoing a consolidation phase for the past 609 days. According to him, if historical patterns were to repeat, the crypto market might witness significant market movements in May or June.
Also, the analyst projected the next few months as the final chance for investors to accumulate before Bitcoin halves. Besides, the YouTuber emphasized that investors who accumulate and remain steadfast during periods of low performance are poised to reap substantial rewards in the future.
While awaiting ADA’s bullish breakout and acknowledging the potential for declines, the analyst emphasized that dollar-cost averaging is an optimal strategy.
Ultimately, he urged viewers to conduct thorough due diligence and research before making investment decisions.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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