A popular Bitcoin advocate has shared an optimistic outlook on Cardano, suggesting that ADA could surpass its previous all-time high.
Crypto Jebb, a market pundit who has been a Bitcoiner since its price was around $2,900, made the projection in an X post over the weekend. According to Jebb, Cardano will not only return to its previous ATH but will surpass it.
ADA to Surpass Previous ATH?
This implies that Jebb believes ADA has the fundamentals to push its price beyond its 2021 all-time high of $3.10. Notably, the token has plunged 78.57% over the past few years and is currently trading at $0.6629.
Despite recent market challenges, Jebb, like other ADA proponents, expresses confidence that the token would surge beyond its previous ATH. To achieve this milestone, Cardano would need to rally roughly 380% from its current price to reach a target of $3.18.
However, Jebb did not specify a timeline for when Cardano might reach this milestone. He emphasized that it will happen eventually.
Factors to Boost Cardano Price Action
Jebb’s commentary reflects the growing optimism surrounding Cardano’s long-term potential, which has paved the way for favorable predictions. Community members highlight several catalysts, including projects like Hydra and Midnight, as potential growth drivers that could fuel the next major rally.
Additionally, the Cardano team’s ongoing efforts to integrate Bitcoin and XRP into its DeFi ecosystem are expected to boost demand for ADA and push its price higher.
Many remain confident that the potential Cardano ETFs could fuel institutional demand for ADA, potentially paving the way for a price surge. This optimism stems from the success of the Bitcoin and Ethereum ETFs, which analysts credit as key catalysts behind the recent growth of both BTC and ETH.
At the moment, the SEC is reviewing at least two Cardano ETFs. This includes a spot ETF from Grayscale and a leveraged version from Turtle Capital.
Meanwhile, ADA is gradually recovering from the recent downturn that plagued the broader market this month. After dropping to around $0.33 on October 10, ADA has rebounded to $0.6629. It is currently up 4.71% over the past 24 hours.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
