Prominent crypto analyst Jason Appleton makes a jaw-dropping prediction for Cardano, as he expects ADA to hit a whopping $32 in the upcoming bull market.
In a recent tweet by Appleton, the analyst speculated that ADA could be one of the best-performing altcoins at the peak of the next bull run.
He backed the prediction by stating that ADA could surge to $32 during the apex of the upcoming bull cycle. Notably, the $32 price prediction for ADA suggests that the eighth-largest cryptocurrency will need to surge 5,145% from its current value of $0.61.
#Cardano Bull Market to a $32 ADA.
In this video I explain how it could be possible to see a $32 ADA in the most prime of conditions by the peak of this Bull Market Cycle.
I believe Cardano will be one of if not the most valuable Altcoin on the market by market peak. pic.twitter.com/sWW16dWGmv
— Jason Appleton (Crypto Crow) (@jasonappleton) December 13, 2023
Appleton’s prediction comes at a time when the price of ADA has been on an upward trajectory.
ADA is currently among the top-performing cryptocurrencies this year. The coin’s price has rallied 150.6% year-to-date (YTD), surging to nearly $0.68 on December 14.
The development might surprise many, given that ADA crashed to a yearly low of $0.23 in September 2023. Interestingly, ADA has been putting smiles on the faces of many investors ever since, as it rallied to a 19-month high of $0.67 on December 14.
With the bull cycle expected to commence any moment, ADA could surge beyond this price level. For context, a bull market is characterized by a massive spike in crypto prices and investors’ optimism.
While some analysts predict that the next bull market will be ushered in after the next Bitcoin halving, others speculate that the bull cycle will begin when the U.S. SEC approves a spot BTC exchange-traded fund (ETF).
Aside from Appleton, several crypto analysts have made bullish predictions for ADA. As reported earlier, market analyst Tyler Strejilevich spotted the reappearance of a bullish weekly cross on the ADA chart.
The analyst said the last time the cross appeared on the chart, ADA spiked 6,000% in 66 weeks. Strejilevich speculated that ADA could surge as high as $33.55 if the same scenario plays out by March 15, 2025.
Similarly, Crypto Capital Venture founder Dan Gambardello predicted that ADA could rally to $11 by 2025.
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