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Market analysts believe Cardano (ADA)’s price could expand by over 19,000% when Bitcoin reaches $500,000.
The crypto market is experiencing renewed bullish sentiment, with Cardano (ADA) emerging as one of the beneficiaries. On Saturday, Bitcoin approached the $65K mark for the first time this month after the abrupt declines in the first week of August.
After surging over 7% in a single day, BTC reached a daily high of $64,947. Following Bitcoin’s lead, Cardano saw a similar percentage increase, reaching an intraday high of $0.4012.
When Bitcoin prices dropped three weeks ago, ADA also declined. Now, as the market is rallying, ADA is benefiting as well. Given Cardano’s tendency to mirror Bitcoin’s price movements, several market commentators have speculated on potential price points for ADA if BTC reaches $500K.
Cardano Price When Bitcoin Hits $500K
Aryan, a well-known analyst famous for identifying potential 100X gems, suggested that if Bitcoin rises to $500,000, ADA could reach $75.
To put this into perspective, ADA would need to increase by 19,405% from its current value of $0.3845 to achieve the $75 target, representing a staggering return on investment for holders.
Meanwhile, Bitcoin would need to gain only 680% from its current price of $64,123 to hit the $500K mark. In this scenario, Aryan anticipates Cardano to significantly outperform Bitcoin during its ascent to $500K.
Notably, during the last bull market, ADA outperformed Bitcoin, recording a price increase of over 3,775%, while Bitcoin saw a 700% increase.
Further context for the $75 target for Cardano is that at this price level, ADA would have a market cap of approximately $3.37 trillion, a remarkable achievement that would put ADA on par with Apple’s valuation.
Timeline for ADA to Hit $75
While Aryan believes that $75 is achievable for Cardano by 2025, other market analysts with similar views on ADA have proposed longer timelines.
Analysts at the Changelly crypto exchange suggest $75 is attainable for Cardano by March 2040, or sixteen years from now. They even predict a minimum value of $85 for ADA by April 2040. At this timeline, Changelly expects Bitcoin to have far exceeded $500K.
However, market observers at Telegaon are less optimistic. They do not believe ADA will reach $75 even by 2050, or about three decades from now. Their most ambitious target for ADA is $45 by 2050. Notably, at this timeline, Telegaon analysts expect Bitcoin to have surpassed $1 million per coin.
Other analysts within the crypto community who remain optimistic about ADA believe that a range of $5 to $10 is a more realistic target based on historical performance.