Cardano (ADA) Predicted to Surge 6000% to $33: Timeline Revealed

• The Rise of Cardano (ADA) Amid Small Wallet Exodus
• Small Wallets Exodus Fuels ADA's Price Spike
• Potential for Further Price Surge
• The Possibility of a 6000% Surge for Cardano (ADA)
• ADA's Bullish Outlook in 2024: Possible or Overestimated?

The Rise of Cardano (ADA) Amid Small Wallet Exodus

Cardano (ADA), despite initial struggles in the year, has seen a striking rise in its price over the past weeks. The token has seen a surge of more than 130%, mirroring Bitcoin$42,260 -0.64%'s (BTC) growth during the same duration. Weekly charts show an increase of 32.3% in ADA, while the previous month has seen over 50% growth. Furthermore, since December of last year, the token has surged 88%.

Small Wallets Exodus Fuels ADA's Price Spike

The recent surge in Cardano's (ADA) value is noticeable, especially amidst the exodus of small wallets holding between 1 to 10 ADA. Santiment, a firm specializing in crypto analysis, suggests that this decline in small addresses may have contributed to the latest price surge. They argue that often, a decrease in addresses of this size or smaller often indicates capitulation and a potential price turning point.

Potential for Further Price Surge

The uptrend of ADA's price doesn't seem to be concluding soon. According to predictions, ADA might be on the verge of another significant rally.

The Possibility of a 6000% Surge for Cardano (ADA)

Tyler Strejilevich, a crypto analyst, anticipates a bullish prospect for ADA. He asserts that the token is on the brink of achieving a bullish weekly cross for the first time since June 2020. Drawing from the past, when this event occurred, ADA saw a rise of 6,000% over the next 66 weeks.

If Strejilevich's predictions hold true, Cardano (ADA) could potentially reach $33 within the next 16 months. This could result in a new all-time high for ADA by 2024 or 2025.

ADA's Bullish Outlook in 2024: Possible or Overestimated?

Changelly, however, does not foresee such a bullish future for ADA in 2024. The platform projects that ADA might attain a price of roughly $1.48 by the end of 2025. Nevertheless, if a bull market does take place in 2024, as some predict, ADA might surge to new heights before Changelly's projected dates.

Edited by Jonathan Stoker