{"id":31157,"date":"2023-10-18T23:52:38","date_gmt":"2023-10-19T03:52:38","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=31157"},"modified":"2023-10-18T23:52:38","modified_gmt":"2023-10-19T03:52:38","slug":"cardano-ada-getting-ready-to-explode-analyst-presents-16500-blowout","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/18\/cardano-ada-getting-ready-to-explode-analyst-presents-16500-blowout\/","title":{"rendered":"Cardano (ADA) Getting Ready To Explode: Analyst Presents 16,500% Blowout"},"content":{"rendered":"

Cardano (ADA<\/a>) has been stuck in an accumulation zone for a couple of months now and has not seen the kind of run-up other large cryptocurrencies have experienced. This continued accumulation as well as trading in a very tight range could mean a very significant breakout when it finally happens and one crypto analyst<\/a> has predicted an incredible surge along these lines.<\/p>\n

Cardano Could See A 16,500% Surge<\/h2>\n

Tim Warren, one of the hosts of the Investing Broz show on Discord, took to X (formerly Twitter) to share a rather bullish Cardano chart. In the chart, Warren points out Cardano\u2019s previous price performance which has been nothing short of phenomenal.<\/p>\n

As the chart shows, the ADA price<\/a> had fallen around 98% from its prior all-time high which it had hit in 2018. By 2020, ADA\u2019s price was sitting as low as $0.018, but the imminent turnaround would take the entire market by surprise. ADA would go on to rally a total of 16,500% by the time it hit its new all-time high of $3.10 in 2021.<\/p>\n\n

Applying this historical performance to the current price level of ADA could suggest another such rally. Cardano\u2019s price<\/a> is currently sitting around 92% below its all-time high, which puts it close to the same level it was back in 2020.<\/p>\n

If ADA sticks to this historical performance and does a repeat, a 16,500% surge from the current price level would put the digital asset\u2019s price<\/a> at $40 at its peak.<\/p>\n\n

The Value Proposition Of ADA<\/h2>\n

Responding to Warren\u2019s post, another X user, Chris O chimes in with the value proposition of the digital asset. Chris, who is the founder of Ghost Fund DAO, a protocol on Cardano, explained that ADA\u2019s previous 16,500% surge had happened without having support for smart contracts and decentralized finance (DeFi)<\/a>, among others. But now that the network supports this, the founder believes this could trigger a large rise.<\/p>\n

Chris points to the presence of DeFi, a rising Total Value Locked (TVL)<\/a>, non-fungible tokens (NFTs)<\/a>, and sidechains<\/a> which are now prominent on the network. He also points out the various protocols which have been launched on the network across these different sectors.<\/p>\n

#Cardano<\/a> fam, simple chart showing FUTURE opportunity. Without SC, CNT\u2019s, Defi, $ADA<\/a> did 165x from bear bottom.<\/p>\n

Now with SC, Defi\/booming TVL, NFT\u2019s, Projects such as @book_io<\/a>, @CornucopiasGame<\/a>, @Indigo_protocol<\/a>, @IagonOfficial<\/a>, etc\u2026, along with Hydra, Marlowe, Mithril,\u2026 https:\/\/t.co\/EChPO0SSLH<\/a><\/p>\n

\u2014 Chris O (@TheOCcryptobro) October 14, 2023<\/a><\/p>\n

As Chris points out, ADA had done a \u201c165x from bear bottom\u201d without Cardano having support for all of the sectors listed above. So he believes that \u201cA 25x \u2013 40x is a very reasonable expectation. Drown out the noise.\u201d<\/p>\n

Related Reading: Meme Coins That Are Ripe For The Picking Following $3.2 Billion Crash<\/a><\/p>\n

Chris referred to Warren\u2019s chart as a \u201csimple chart showing FUTURE opportunity.\u201d However, if ADA<\/a> were to make a repeat of its 2020-2021 rally, a 40x would only be the beginning<\/a> for the digital asset.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cardano (ADA<\/a>) has been stuck in an accumulation zone for a couple of months now and has not seen the kind of run-up other large cryptocurrencies have experienced. This continued accumulation as well as trading in a very tight range could mean a very significant breakout when it finally happens and one crypto analyst<\/a> has predicted an incredible surge along these lines.<\/p>\n

Cardano Could See A 16,500% Surge<\/h2>\n

Tim Warren, one of the hosts of the Investing Broz show on Discord, took to X (formerly Twitter) to share a rather bullish Cardano chart. In the chart, Warren points out Cardano\u2019s previous price performance which has been nothing short of phenomenal.<\/p>\n

As the chart shows, the ADA price<\/a> had fallen around 98% from its prior all-time high which it had hit in 2018. By 2020, ADA\u2019s price was sitting as low as $0.018, but the imminent turnaround would take the entire market by surprise. ADA would go on to rally a total of 16,500% by the time it hit its new all-time high of $3.10 in 2021.<\/p>\n

Applying this historical performance to the current price level of ADA could suggest another such rally. Cardano\u2019s price<\/a> is currently sitting around 92% below its all-time high, which puts it close to the same level it was back in 2020.<\/p>\n

If ADA sticks to this historical performance and does a repeat, a 16,500% surge from the current price level would put the digital asset\u2019s price<\/a> at $40 at its peak.<\/p>\n

The Value Proposition Of ADA<\/h2>\n

Responding to Warren\u2019s post, another X user, Chris O chimes in with the value proposition of the digital asset. Chris, who is the founder of Ghost Fund DAO, a protocol on Cardano, explained that ADA\u2019s previous 16,500% surge had happened without having support for smart contracts and decentralized finance (DeFi)<\/a>, among others. But now that the network supports this, the founder believes this could trigger a large rise.<\/p>\n

Chris points to the presence of DeFi, a rising Total Value Locked (TVL)<\/a>, non-fungible tokens (NFTs)<\/a>, and sidechains<\/a> which are now prominent on the network. He also points out the various protocols which have been launched on the network across these different sectors.<\/p>\n

#Cardano<\/a> fam, simple chart showing FUTURE opportunity. Without SC, CNT\u2019s, Defi, $ADA<\/a> did 165x from bear bottom.<\/p>\n

Now with SC, Defi\/booming TVL, NFT\u2019s, Projects such as @book_io<\/a>, @CornucopiasGame<\/a>, @Indigo_protocol<\/a>, @IagonOfficial<\/a>, etc\u2026, along with Hydra, Marlowe, Mithril,\u2026 https:\/\/t.co\/EChPO0SSLH<\/a><\/p>\n

\u2014 Chris O (@TheOCcryptobro) October 14, 2023<\/a><\/p>\n

As Chris points out, ADA had done a \u201c165x from bear bottom\u201d without Cardano having support for all of the sectors listed above. So he believes that \u201cA 25x \u2013 40x is a very reasonable expectation. Drown out the noise.\u201d<\/p>\n

Related Reading: Meme Coins That Are Ripe For The Picking Following $3.2 Billion Crash<\/a><\/p>\n

Chris referred to Warren\u2019s chart as a \u201csimple chart showing FUTURE opportunity.\u201d However, if ADA<\/a> were to make a repeat of its 2020-2021 rally, a 40x would only be the beginning<\/a> for the digital asset.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-31157","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=31157"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31157\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31157"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}