The Cardano price has risen by 4% in the past 24 hours, reaching $0.383747 on a day when the wider market has gained by 2.5%.
ADA is now down by 2% in a week, yet the altcoin has posted a 34% increase in the last 30 days, as well as a 55% return since the start of the year.
Such figures are bullish, yet some analysts are now predicting even bigger gains for ADA in the not-too distant future.
Indeed, YouTuber and trader Dan Gambardello posted a video yesterday in which he predicts the coin will rise by as much as 2,800% during the next post-Bitcoin halving bull market, potentially making buyers a very big profit.
Cardano Price Prediction as ADA Poised for 2,800% Increase Post-Bitcoin Halving – Future Millionaire Maker?
Compared to other altcoins, ADA’s indicators continue to look promising, even after this week’s earlier selloff.
For example, its relative strength index (purple) has risen yet again above 60, indicating an increase in buying pressure that could push the Cardano price to higher levels.
At the same time, ADA’s 30-day moving average (yellow) is rising healthily above its 200-day (blue), providing another indicator that the coin remains in the middle of a bullish phase.
Another interesting contrast is that, unlike certain other alts, ADA’s support level (green) has held up well in the face of the negativity that followed Binance’s settlement with the DoJ.
What this means is that ADA is currently carrying more upwards momentum than many other tokens in the market, and looks ready to continue rallying in the coming days and weeks.
Its 24-hour trading volume remains relatively elevated at just above $25o million, compared to half of this a month ago.
This suggests ongoing interest in ADA, which some are arguing is a sleeping giant.
CARDANO Defies Market Chaos: ADA Is UNSHAKEABLE!
Crypto is so bullish right now 00:45
Negative news did not impact ADA 1:30
Using caution on Cardano 3:45
The next Cardano price move 6:30
A speculative bullish move 7:45
This is all the setup 9:40
Targets to downside… pic.twitter.com/inWSPqideA
— Dan Gambardello (@cryptorecruitr) November 23, 2023
This is basically the view of the aforementioned Dan Gambardello, who in a YouTube video posted yesterday pointed towards Cardano’s growth as a platform as the reason why ADA could rise by around 3,000% in the next bull market.
While he didn’t identify a specific timeframe, he suggested that the Cardano price will push aggressively during the next post-Bitcoin halving bull market, which may start from next year (the halving is due April).
He actually highlighted a target price for ADA of just over $10.
This is highly ambitious, but with Cardano witnessing a 420% rise in its TVL this year, ADA could easily make it to $1 in the next few months.
Alternative Alts With High-Return Potential
As promising as ADA looks right now, it isn’t the only alt in the market that could vastly outperform the market in the near future.
In particular, there are several presale tokens which, in raising substantial sums of money, are generating sufficient momentum and interest to have big exchange listings.
The best example of this right now is Bitcoin Minetrix (BTCMTX), a stake-to-mine platform that has raised over $4.2 million in its very successful presale.
#BitcoinMinetrix bringing essential news!
Over $4,200,000 raised! pic.twitter.com/QWHKasvilZ
— Bitcoinminetrix (@bitcoinminetrix) November 21, 2023
Investors are clearly becoming very enthusiastic about Bitcoin Minetrix, which will enable users to mine actual Bitcoin (BTC) by staking its native BTCMTX token.
Such staking provides users with mining credits, while users can spend these credits to have miners mine BTC on their behalf.
This means that staking enough BTCMTX will provide users with BTC in return, while they will also receive newly issued BTCMTX on top of this.
By operating in such a simple and straightforward, Bitcoin Minetrix aims to widen access to Bitcoin mining and make it more decentralized.
— Bitcoinminetrix (@bitcoinminetrix) November 23, 2023
It seems that growing numbers of investors believe in this vision, with new buyers able to join the presale by visiting the official Bitcoin Minetrix website.
1 BTCMTX currently costs $0.0118, yet this will rise to $0.0119 in four days, when the sale begins its final stage.
From there, BTCMTX will list on exchanges, where it could experience a very big opening rally.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.