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With projections of $10 and $20 gaining steam within the Cardano community, certain entities have highlighted potential timelines for ADA to clinch these audacious targets.
The recent market onslaught wreaked havoc on the prices of top crypto assets like Cardano (ADA) and Bitcoin (BTC). In particular, ADA recorded a price dip of 11.1% in the weekly charts and a 19.7% decline since last month.
Despite ADA’s massive plunge, prominent market watchers have remained optimistic about an imminent price surge, with several projections of $10 and $21 making rounds within the Cardano community.
Projected Timelines For ADA Surge to $10 and $20
As these predictions garner momentum, top crypto experts and prediction platforms have issued potential timelines regarding when ADA could reach the $10 and $21 territories.
ADA to $10
Recent predictions from analysts at Changelly pegged the projected timeline for the potential $10 price target in March 2031, seven years from now. According to the data, ADA would surge to a maximum price of $10.21 by March 2021, with its minimum and average prices set at $8.57 and $8.83, respectively.
As reported earlier, Changelly speculated that ADA would reach the $10 target by December 2030. However, following the recent correction across the broader market, the analysts have modified the timeline to March 2031.
In addition, famous crypto analytic platform Telegaon expects ADA to reach $10 between 2030 and 2035. The platform set ADA’s minimum price target at $7.78 by 2030, with a maximum target of $16.24 by 2035.
For context, reaching the $10 valuation would require an increase of 1,597% from the current price of $0.589.
Road to $21
The ambitious $21 target is another prediction that has gained steam within the Cardano community. For ADA to reach $21, the coin must rally 3,465% from the current price.
Interestingly, Changelly predicts that ADA would clinch the $21 target by March 2033. ADA is expected to hit a maximum price target of $21.55 by then, while its minimum and average targets are respectively pegged at $18.03 and $18.59.
Meanwhile, Telegaon sees ADA’s $21 price prediction happening by 2040 when they believe the asset would hit an average target of $21.05.
Potential Factors That Could Push ADA to $10 – $21
Cardano’s journey toward the $10 and $21 territories would not be an easy one. The ninth-largest cryptocurrency by market cap must spike by 1,597% and 3,465% to achieve this feat, respectively.
Nonetheless, crypto assets like Cardano are known for their ability to take the market by storm with their price gains. The three major factors that could push Cardano’s price to the $10 and $20 territories include increased development activities, widespread promotion, and upcoming Bitcoin Halving.
It is no longer news that Cardano ranks among the top crypto assets with the most development activities. The coin has led other crypto projects in terms of development activities for several months. This feat paid off heavily last month when ADA surged to around $0.8.
In addition, there has been widespread promotion recently centered around Cardano. Cardano fans have taken to social media platforms to promote the widespread adoption of the coin. Interestingly, Cardano founder Charles Hoskinson has also joined the campaign, noting that it is now a red flag for investors not to own ADA.
Lastly, the upcoming Bitcoin halving is expected to usher in a bull phase that could propel the prices of various assets, including ADA, to surge significantly. Recall that the last Bitcoin halving was one of the catalysts that paved the way for ADA’s rally to its all-time high of $3.10, registered in 2021.
It is noteworthy that Cardano saw a surge of 3,775% months after the previous halving. With the next halving set to occur between April 16 and 20 this year, top experts are backing ADA to replicate a similar feat this season.