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Famous cryptocurrency analyst Ali Martinez focused specifically on the price movement of Cardano (ADA) in his recent statements.
According to the analyst, the breakout that will trigger the rise in Cardano may come faster than the analyst previously thought.
The analyst said that if history repeats itself, he expects the price of ADA to first rise to around $0.80 and then drop to $0.60. In addition, the analyst interestingly claimed that after this stage, the ADA price could enter a bull rally and reach $8 by January 2025.
However, Cardano previously climbed to its all-time high price level of $ 3.10 in 2021. ADA price is trading at $0.5993 at the time of writing this article and has a market value of $21.2 billion.
The ADA price would need to reach a market cap of approximately $105 billion to regain its all-time high price level. During the last record, its peak value climbed to 94 billion dollars in 2021.
However, for the Cardano price to rise to $8, a market value of $280 billion must be reached, assuming the current supply is maintained.