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- ADA community debates $4-$6 target, comparing ADA and BTC historical prices.
- Enthusiasts show optimism, foreseeing an ‘insane rally’ despite differing market views.
- Community holds faith in ADA’s potential like Charkles Hoskinson, despite external skepticism.
In a recent Cardano (ADA) centric discussion, enthusiasts engaged in a fervent conversation about the potential for ADA to reach $4 or even $6 during the current bullish cycle. One ADA supporter drew comparisons between historical and present price charts of ADA and Bitcoin (BTC), raising intriguing points for consideration.
$ADA was at $1.98 the last time $BTC was at 60k. It’s currently at $0.68.
— TheInvestronaut ® (@TheInvestronaut) February 29, 2024
Is the cause for concern, or is Cardano winding up for an insane rally?
🤞🏽 pic.twitter.com/yQqdhKqAyQ
The enthusiast pointed out that during Bitcoin’s last peak at $60k, ADA was priced at $1.98. However, the current ADA value stands at $0.68, prompting questions about whether this is cause for concern or a signal of an impending robust rally.
The debate within the community reflects varying opinions, with one participant expressing confidence in an “insane rally“. They emphasized that altcoins, including ADA, often experience more significant drops than BTC during bear markets, needing substantial gains to catch up in the early phases of a bull market.
A contrasting viewpoint emerged, noting that ADA has not yet recovered even close to 50% from its all-time high, while BTC has regained around 90%. Despite this, supporters remain bullish, asserting that ADA, as a top-10 project with growing fundamentals, strong Total Value Locked (TVL), and an enthusiastic community, is poised for a significant pump.
Acknowledging the differing perspectives, the original chart presenter expressed optimism, hoping for a repetition of ADA’s performance in 2020. The post gained a lot of ADA community members to come together and logically justify the need to be patient.
It is heartening to see the faith the community has in its project. Despite the many criticisms from the broader crypto community branding ADA as a ‘dead project’ or ‘dead coin’, the ADA community remains steadfast in their confidence.
Their faith and resilience echo the unwavering belief in the project demonstrated by ADA’s creator, Charles Hoskinson himself. Their patience and faith suggest a strong conviction that ADA has the potential for a substantial upswing in the current market cycle.