The crypto expert Benjamin shared his intuitions about ADA’s price situation and where the expert thinks will the ETH competitor will be moving to in this market.
In a recent interview, Benjamin discussed the prospect of the 7th largest digital currency. Benjamin highlights that one typically expects any digital currency in a bull market to increase its dollar valuation. However, according to the analyst, it is equally significant to note if the digital asset is outpacing Bitcoin.
The analyst stated in the interview that there is no need to hold an altcoin that can not outperform Bitcoin, and Cardano’s ADA is outperforming Bitcoin in a bull cycle.
The expert continued stating that regardless of ADA being in a consolidation period presently, it has still managed to increase more than 3,000% within the last year. Cowen rationales that the smart contract platform can grow more than 500% from its current price at $1.64.
Furthermore, the analyst moved back to discussing ADA. Benjamin stated that buying Cardano’s ADA at $1.37 bears more risk associated with it than purchasing it around $0.02. However, the analyst believes there is still potential for ADA in the current market cycle, and the top for ADA will be considerably higher than this.
The expert did announce an exact range of the potential price of Cardano’s ADA in this market cycle that could end up somewhere around $5 – $10 but, he did not fail to mention that if the price goes even higher, the analyst will not scrutinize himself of being wrong.
Even though Benjamin Expects Cardano’s ADA to maintain its progress of increasing against the US dollar, the journey would be far from pleasurable as few hiccups, and severe pullbacks could be experienced through its ascend.
As the expert continued in the interview stating he can tell us if ADA ever reached such success. It will be an insane journey, and ADA will not just move straight to these milestones. A lot of pullbacks will be experienced in the journey, similar to how Ethereum experienced some of its significant pullback in the previous cycle. Ultimately the analyst does believe Cardano’s ADA does have what it takes to attain those mentioned levels. However, the journey will not be straightforward.