Cardano enthusiast and founder of Crypto Capital Enterprise Dan Gambardello delivers an eye-catching forecast on the value of ADA.
Gambardello believes that $7.80 will be the minimum all-time high for Cardano during the upcoming bull cycle in a tweet. He didn’t go into detail about what might have affected his conclusion and view of the Cardano value, but his later tweets might have hinted at it.
According to Gambardello, when banks and traditional financial systems fail, bitcoin is becoming more important. He predicts that the exact cryptocurrency bull market will begin in a few years.
Cardano (ADA) needs to increase about 2,400% from its current price before it reaches Gambardello’s target price of $7.80. This could seem like a tall claim, but it should be remembered that the cryptocurrency market never fails to surprise.
What direction the market will go next, though, is still unclear.
As was previously mentioned, the Cardano community-focused Twitter account ADA Whale thinks there is a prospect for a bull run in the cryptocurrency. It was not expected that this would be a “2023 story,” though, because it will take time.
As of the writing of this article, ADA had decreased somewhat over the previous 24 hours to $0.30.
Cardano introduces new products
Cardano developer Enter Output International (IOG) emphasises the advancements made by the blockchain as demonstrated by new releases in its most recent weekly update.
This week saw the minor introduction of Cardano node v.8.1.2, which provides changes to the Plutus interpreter. A significant development for the Cardano community is the opening of the mainnet beta for the Mithril protocol.
According to the report’s update, the Mithril team is keeping an eye on the network and predicts that it will begin issuing certificates during the following Cardano epoch.
