Can Cardano go all the way to 100X?
There are many ways to predict price. After doing your fundamental analysis, you would see the trend. You could also take note of the projects it has on the way.
There is a concept called the altcoin season. When bitcoin rallies the crypto market rallies. And when bitcoin crashes, the crypto market crashes as well. This has been one of the biggest price predictors. One key thing to consider is the blue line going through the middle, known as the average price. When they have killed run-ups it goes way above the average and it has to revert to the mean.
By the end of the year obviously, bitcoin will be high, however, in the short term, we are in a bear market. For Bitcoin in the short-term, we are in the bear market however in the long run, yes we are in a bull run here.
Since Cardano is an altcoin it’s likely to outperform Bitcoin in the short term. It is likely to outperform many other altcoins because right now Cardano is planning to start a smart contract. The smart contract is billed to start in the first week of September.
In my own point of view, I believe that Cardano is going to do 50X,100X, or even 150X. Let’s see the market cap of Cardano. ADX, a project on Cardano is 100k market-cap presently and the Cardano ecosystem is going all the way right now. Smart contract capabilities, cheaper gas fees, and speed of transactions. These are all the things that are playing out well for Cardano.
The market cap is everything. As the market cap increases, economists say we will get diminishing returns. But right now there is a lot of space for Cardano to increase its market cap.