Analyst Predicts Cardano (ADA) Could Skyrocket by 16,500%

Cardano (ADA) seems primed for an extraordinary breakout, according to crypto analyst Tim Warren, after months of accumulation and subdued activity compared to other major cryptocurrencies. The analyst suggests a potential surge of up to 16,500% could be on the horizon.

ADA Set for Unprecedented Rally Tim Warren, co-host of the Investing Broz show on Discord, recently shared an optimistic Cardano chart on X (formerly known as Twitter), illustrating ADA’s impressive historical performance. The chart indicates that ADA’s price plummeted approximately 98% from its 2018 all-time high, reaching lows of $0.018 by 2020. However, it then stunned the market with a 16,500% rally, reaching a new high of $3.10 in 2021.

Remember when $ADA fell 98% and then blew up and then did an 165X? #Cardano pic.twitter.com/2H2YOjqeux
— Tim Warren (@Tims_TA) October 13, 2023

Warren’s analysis implies that a similar trajectory could unfold soon, given that ADA’s price currently hovers around 92% below its all-time high, mirroring conditions seen in 2020. If history repeats, ADA could witness a staggering 16,500% surge, potentially elevating the cryptocurrency’s value to $40.

Enhanced ADA Value Proposition Following Warren’s projections, another X user, Chris, who founded Ghost Fund DAO, a Cardano-based protocol, highlighted ADA’s evolved value proposition. He pointed out that ADA’s previous surge lacked the backing of smart contracts and decentralized finance (DeFi) capabilities. Now, with these features in place, he anticipates a substantial uptick.

Chris emphasized the expanded functionalities now supported by the Cardano network, including DeFi, a growing Total Value Locked (TVL), non-fungible tokens (NFTs), and sidechains, not to mention various protocols that have debuted across these categories.

Referring to ADA’s past performance, Chris noted the asset had achieved a “165x from bear bottom” even without the comprehensive features it now boasts. Therefore, he considers a “25x – 40x” increase a reasonable expectation, advising the community to “Drown out the noise.

Chris described Warren’s chart as a depiction of a “FUTURE opportunity.” Still, if ADA emulates its 2020-2021 performance, a 40x increase might just be the starting point for this digital asset’s potential explosion.