Early Bitcoiner: Cardano Will Go Beyond Its ATH “Eventually”
A popular Bitcoin advocate has shared an optimistic outlook on Cardano, suggesting that ADA could surpass its previous all-time high.
Crypto Jebb, a market pundit who has been a Bitcoiner since its price was around $2,900, made the projection in an X post over the weekend. According to Jebb, Cardano will not only return to its previous ATH but will surpass it.
ADA to Surpass Previous ATH?
This implies that Jebb believes ADA has the fundamentals to push its price beyond its 2021 all-time high of $3.10. Notably, the token has plunged 78.57% over the past few years and is currently trading at $0.6629.
Factors to Boost Cardano Price Action
Jebb’s commentary reflects the growing optimism surrounding Cardano’s long-term potential, which has paved the way for favorable predictions. Community members highlight several catalysts, including projects like Hydra and Midnight, as potential growth drivers that could fuel the next major rally.
Additionally, the Cardano team’s ongoing efforts to integrate Bitcoin and XRP into its DeFi ecosystem are expected to boost demand for ADA and push its price higher.
Many remain confident that the potential Cardano ETFs could fuel institutional demand for ADA, potentially paving the way for a price surge. This optimism stems from the success of the Bitcoin and Ethereum ETFs, which analysts credit as key catalysts behind the recent growth of both BTC and ETH.
At the moment, the SEC is reviewing at least two Cardano ETFs. This includes a spot ETF from Grayscale and a leveraged version from Turtle Capital.
Meanwhile, ADA is gradually recovering from the recent downturn that plagued the broader market this month. After dropping to around $0.33 on October 10, ADA has rebounded to $0.6629. It is currently up 4.71% over the past 24 hours.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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