A team of British market analysts recently released their predictions for the future price of Cardano (ADA). They state that this altcoin has the potential to increase significantly in value over the next six years.
They expect ADA to not only match but exceed its historic peak of $3.09, with a target of an increase to $3.50.
Currently, the ADA price is at $0.66 after increasing in value by 1.7% in the last 24 hours. This means that the altcoin is still far away from its all-time high of $3.09. To achieve a new price record, the ADA price must increase in value by almost 370%.
ADA price could increase by 430%
While a forecast ADA price of $3.50 may sound attractive to many investors, analysts consider this a relatively modest expectation.
They expect that Cardano will not surpass its record price until around 2030, implying that it could take up to six years before investors witness a new all-time high for this popular cryptocurrency.
The price forecast certainly doesn’t look very good if it reflects the previous all-time high of $3.09. This was achieved in September 2021. A price of $3.50 is only 13% higher than the current all-time high. Not exactly a rosy prospect if you bought ADA coins at a price of $3.09.
1 day left: Grab your 20 Euro bonus at Bitvavo now
Are you about to discover the crypto world and are you considering buying Cardano or another crypto? Then grab your chance now with this exclusive offer! Thanks to a special deal between Newsbit and the Dutch crypto exchange Bitvavo, our readers receive an exclusive offer
Only 1 Day Available: register with Bitvavo via the button below and receive a welcome gift of 20 euros completely free. And that’s not all – you also don’t pay trading fees on your first 10,000 euros in transactions. Register now!
