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As predictions of Cardano’s potential rally to $5 and $12.8 make waves, we’ve detailed the amount of ADA you need to acquire now to make a profit of $1M if the predictions come true.
Several analysts have speculated that Cardano (ADA) could rank among the best performers this year when the bull market reaches its peak.
Based on this optimism, these experts have issued outstanding predictions for Cardano, with some analysts projecting that ADA could reach an ambitious target of up to $12.8.
For instance, Dan Gambardello, a famous investor and founder of a crypto capital venture, forecasted that ADA might eventually hit $12.8 if it consistently doubled its price, starting from $0.8.
Interestingly, prominent market watcher Ali Martinez gave a less ambitious prediction for ADA, speculating that the asset could reach $5 before the end of the year.
With Martinez and Gambardello expecting ADA to surge to $5 and $12.8, the prospect of attaining a $1 million investment should these predictions materialize has enticed Cardano investors.
How to Make $1M If ADA Hits $5
To become a millionaire when ADA hits $5, an investor must acquire 200,000 ADA. With ADA priced at $0.6218, the 200K ADA coins are currently worth $124,360.
If the price of ADA eventually spikes to $5 this year, as projected by Martinez, this could turn the $124,360 investment into $1M. For context, ADA must rally 704.1% from its current price to reach the $5 target.
Becoming a Millionaire If ADA Surges to $12.8
ADA’s $12.8 prediction issued by Gambardello is a more ambitious target than Martinez’s forecast. Hitting the $12.8 target requires ADA price to spike 1,958.54% from its current price.
If an investor is planning on making a return of $1M when Cardano eventually spikes to $12.8, they would need to scoop 78,125 ADA. These 78,125 ADA coins are currently valued at $48,578 in the hours leading up to press time.
Should Cardano surge from its current price of $0.6218 to hit the ambitious target of $12.8, your $48,578 investment in ADA today would give you a $1M return.
BitBoy Highlights 3 Scenarios to Attain Millionaire Status
Meanwhile, last year, popular crypto influencer Ben Armstrong, popularly known as BitBoy, highlighted three scenarios on how investors can become millionaires in Cardano.
In the first scenario, he disclosed that investors could make a return of $1M if the coin’s market cap surges to $175 billion, bringing its price to $5. Here, a holding of 200K ADA could give the investor a profit of $1M if ADA reaches the $5 target.
Additionally, BitBoy speculated that many Cardano investors who hold at least 125K ADA coins could become millionaires if the price hits a target of $8. Lastly, the crypto influencer expects investors with 100K ADA in their portfolios to make a return of $1M if ADA’s price touches $10.
Per BitBoy, ADA could surge past $3 during the peak of the bull run. He noted that factors like Hydra upgrade and growing interests in emerging economies would pave the way for Cardano’s potential rally above the $3 mark.