According to popular crypto influencer Jake Gagain, Cardano could go as high as $7.5 by the end of the current market cycle.
The price of Cardano (ADA) has recovered tremendously from its 2023 lows of $0.234. At the time of writing, the coin has gained nearly 200% from those lows, trading around $0.62 with a market cap of $22 billion.
Nonetheless, Cardano is still 70% below its all-time high value of $3.10, set in September 2021. Amid the uncertainty, the prospect of the cryptocurrency ever bouncing back to its previous highs or even seeing a new all-time high remains contested.
Popular influencer Jake Gagain recently weighed in on the subject with a bullish prediction that suggests that Cardano will more than double its previous all-time high. Gagain forecasts that Cardano may only go as high as $1 before Bitcoin’s halving, which is on track for April.
However, he predicts the cryptocurrency will skyrocket after that landmark event, of America hitting a new all-time high. “We could see a $7.50 cents Cardano token during the peak of the [upcoming] bull run” in 2025, Gagain told his over 240,000 X followers.
Reasons Behind Bullish Prediction
Jake Gagain shed further light on the reasons behind his bullish forecast. Beyond Cardano being his favorite blockchain due to his love for its founder, Charles Hoskinson, the influencer acknowledged that the project has built a strong community.
He also added that Cardano is building a strong ecosystem. Unlike the previous bull run when Cardano’s decentralized finance (DeFi) ecosystem was relatively in its infancy, the network now has hundreds of millions in capital locked.
Bullish 2025 Crypto Price Predictions. $BTC $ETH $SOL $XRP $ADA pic.twitter.com/xGQKZYRrpm
— JAKE (@JakeGagain) March 21, 2024
Jake Gagain predicts that even more capital will flow into Cardano as the bull market catches on, further inflating the cryptocurrency’s price. For context, the influencer’s $7.5 forecast will represent a more than 1,100% increase from the coin’s current value of $0.62.
Notably, Jake Gagain is not the only market analyst or influencer who is bullish about Cardano’s future. Prominent analyst Ali Martinez predicts a possible rise to $5, with yet another analyst forecasting prices as high as $12.80 within the current market cycle.