Cardano (ADA) Predicted to Experience an Increase, Up to $1.5?

Bittime - Cardano (ADA) is a hot topic of conversation in the community, with some concerned about its performance compared to Bitcoin which has just reached its highest price. However, analyst Dan Gambardello, a well-known Cardano supporter, believes that a significant price increase for ADA is imminent.

Current ADA Price Movement vs Previous BTC Bullish Cycles

Gambardello understands the community's concerns, but Gambardello points out that historical data shows a different picture.

Gambardello compared ADA's current price movement to Bitcoin's behavior in previous bull cycles.

Before breaking its 2017 high in late 2020, Bitcoin retested its previous peak. Bitcoin hovered around $18,000 between November and December 2020 before topping the $20,000 mark in mid-December. 

While in November 2020, when Bitcoin started its last bull run, ADA was trading around $0.093. Worth noting, this is about 90% lower than its 2017 high of over $1.17.

Also Read How to Buy Crypto:

Is Cardano on the Right Track?

According to Gambardello Analysis, comparing the current price with its 2021 peak of $3.10, ADA is at a discount of 76%. 

Gambardello points out that Cardano is not lagging behind as some perceive, but is following a similar historical trajectory.

Furthermore, Gambardello emphasized ADA's impressive surge of 975% from $0.094 in November 2020 to re-reach the $1 mark in just 16 weeks.

Referring to these historical similarities and the shadow effect observed in Bitcoin's movements in late 2020, Gambardello predicts an imminent bullish boom for ADA, with the potential to reach a price target of $1.5.

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How to Buy Cardano (ADA) on Bittime

You can buy and sell Portal (ADA) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Cardano (ADA) is available on Bittime with the ADA/IDR market pair . To be able to buy ADA IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Cardano (ADA) on Bittime . 

Monitor the price chart movements of Cardano (ADA) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

Cardano (ADA) Price Prediction in Mid-March 2024
Cardano (ADA) Market Cap Reaches $2 Billion in 24 Hours

Analyst: Cardano (ADA) Drop A Bullish Sign?

Cardano ADA Crypto Review 2024: A Quick Insight

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.