$ADA: Analyst Forecasts Cardano To Go As High as $9.24

Mitchell Bouchard, known as “Crypto Moose,” shared his insights and predictions for Cardano (ADA) in a recent YouTube video, focusing on future bull runs in 2024 and 2025.

Cardano Price Prediction:

• Bouchard predicts that Cardano could experience significant growth in the upcoming bull runs.
• He anticipates Cardano’s market cap might reach levels similar to Ethereum’s current market cap, which he estimates to be around $200 to $250 billion.
• Using this market cap projection and considering Cardano’s max supply of 45 billion ADA, with a circulating supply of 35.2 billion, Bouchard calculates a potential peak price of $9.24 per ADA token.

Investment Strategy and Profit Taking:

• Bouchard discusses his approach to investment and profit-taking, noting that it varies depending on the entry point in the market.
• For those who bought ADA at lower prices, he suggests that a price of $4 to $5 per ADA could be a good point to start taking profits.
• He emphasizes the importance of setting personal investment goals and adjusting strategies accordingly.

Market Analysis and Comparisons:

• Bouchard compares Cardano’s performance with other cryptocurrencies, noting its recent price movements and market trends.
• He expresses skepticism about certain other crypto projects while highlighting Cardano’s strengths.
• Bouchard also touches on Ethereum’s potential growth, predicting a significant increase in its market cap and price per token.

Personal Investment Philosophy:

• Describing himself as a macro investor, Bouchard shares his broader investment philosophy, which includes diversification beyond cryptocurrencies.
• He mentions his interest in NHL rookie cards, showcasing his varied investment interests.

Future Developments and Community Engagement:

• Bouchard discusses upcoming developments in the Cardano ecosystem, such as new blockchain projects and potential airdrops.
• He encourages community engagement, asking viewers to share their thoughts and predictions about Cardano’s future.

Closing Thoughts:

• In his concluding remarks, Bard reiterates his bullish stance on Cardano, suggesting a peak price of $9.24 per ADA and a more conservative estimate of $4 to $5 as a good profit-taking point.
• He encourages viewers to enjoy the fruits of their investments, whether it’s a modest dinner or a luxurious yacht, depending on their investment scale.

https://youtube.com/watch?v=6mECfqUyD3E%3Ffeature%3Doembed

Featured Image via Unsplash

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