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$ADA: Analyst Forecasts Cardano To Go As High as $9.24

source-logo  cryptoglobe.com 23 November 2023 08:49, UTC

Mitchell Bouchard, known as “Crypto Moose,” shared his insights and predictions for Cardano (ADA) in a recent YouTube video, focusing on future bull runs in 2024 and 2025.

Cardano Price Prediction:

  • Bouchard predicts that Cardano could experience significant growth in the upcoming bull runs.
  • He anticipates Cardano’s market cap might reach levels similar to Ethereum’s current market cap, which he estimates to be around $200 to $250 billion.
  • Using this market cap projection and considering Cardano’s max supply of 45 billion ADA, with a circulating supply of 35.2 billion, Bouchard calculates a potential peak price of $9.24 per ADA token.

Investment Strategy and Profit Taking:

  • Bouchard discusses his approach to investment and profit-taking, noting that it varies depending on the entry point in the market.
  • For those who bought ADA at lower prices, he suggests that a price of $4 to $5 per ADA could be a good point to start taking profits.
  • He emphasizes the importance of setting personal investment goals and adjusting strategies accordingly.

Market Analysis and Comparisons:

  • Bouchard compares Cardano’s performance with other cryptocurrencies, noting its recent price movements and market trends.
  • He expresses skepticism about certain other crypto projects while highlighting Cardano’s strengths.
  • Bouchard also touches on Ethereum’s potential growth, predicting a significant increase in its market cap and price per token.

Personal Investment Philosophy:

  • Describing himself as a macro investor, Bouchard shares his broader investment philosophy, which includes diversification beyond cryptocurrencies.
  • He mentions his interest in NHL rookie cards, showcasing his varied investment interests.

Future Developments and Community Engagement:

  • Bouchard discusses upcoming developments in the Cardano ecosystem, such as new blockchain projects and potential airdrops.
  • He encourages community engagement, asking viewers to share their thoughts and predictions about Cardano’s future.

Closing Thoughts:

  • In his concluding remarks, Bard reiterates his bullish stance on Cardano, suggesting a peak price of $9.24 per ADA and a more conservative estimate of $4 to $5 as a good profit-taking point.
  • He encourages viewers to enjoy the fruits of their investments, whether it’s a modest dinner or a luxurious yacht, depending on their investment scale.

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