thecryptobasic.com
Cardano price could surge by astronomical margins if it trails the broader market’s trajectory as Ethereum hits $20,000 and Solana reaches $2,000.
This is according to market commentator King Aryan, who insists he is out to find the next 00x gem. The pundit made these disclosures earlier in the year, as the crypto market corrected the gains of the first quarter.
ADA’s Underperformance
Notably, ADA has suffered one of the worst declines during the market-wide retracement. The Cardano price has relinquished multiple support levels since its collapse in mid-March. Recall that ADA surged to a new yearly peak of $0.8100 on March 14, a day after Bitcoin (BTC) clinched its all-time high.
However, as BTC retraced its gains, Cardano dropped with the rest of the market and has maintained its bearish trend since. Currently trading for $0.336, ADA is down nearly 59% from the yearly peak. Meanwhile, in comparison, Bitcoin is only down 20% from the March 13 all-time high figure.
Cardano’s unique bearish situation is due to its inability to record substantial short-term recoveries like the rest of the market. In the latest recovery push from Toncoin (TON), the token recently overtook ADA to become the tenth largest crypto asset. This development pushed Cardano off the top 10 list.
Cardano Price if ETH Hits $20K, and SOL Reaches $2K
Despite the bearish trend, analyst King Aryan expects Cardano to rally with the rest of the market when the bull run resumes. He recently presented price targets for Bitcoin and nine altcoins, including ADA.
According to his assertion, Ethereum (ETH) could hit $20,000 by the end of this bull cycle, marking a 666% increase from the current price. In addition, the pundit believes Solana (SOL) is capable of soaring to a new all-time high of $2,000. This would represent a massive 1,308% rise from Solana’s value.
Meanwhile, he set his target for Cardano price at a whopping $75, a massive jump from current levels. Notably, Cardano currently changes hands at $0.3360 at the reporting time. The cryptocurrency would need to skyrocket by a massive 22,221% to reach this level, one of the highest projected growth rates on Aryan’s list.
Meanwhile, the analyst sees Bitcoin spiking 746% to $500,000 and XRP rising 3,233% to $20. While some of these targets are easier to reach, others like Cardano’s $75 goal could face problems. A $75 price would push ADA’s market cap to $2.7 trillion, over twice Bitcoin’s current valuation.