#ABM $BTC Crypto expert Michael Nderitu studied the growth prospects of the Cardano digital coin #ADA speculated the ability of a virtual asset to reach the $24 mark. The owner of the Cardano Feed Twitter account announced this possibility days earlier. In this case, the market capitalization of the cryptocurrency will grow to $870 billion. This is about 9.5 times more than the total ADA supply at the peak of the "last bullish rise".

Michael Nderitu, a researcher at the company, estimated that the cost of Cardano could rise to $24 in 2024-2025. He is not sure about this possibility. According to him, the prediction is based on the fact that a new global bull rally of cryptocurrencies is now beginning. He recalled that in 2021, the value of this digital coin reached a value of about $ 3.1. As of October 26, 2023, it was trading at $0.284. The capitalization of ADA was $10.03 billion, despite the fact that the virtual currency rate jumped by 16.5% over the week.

According to analyst Michael Nderitu, achieving capitalization of $870 billion will be difficult. At the moment, the total supply of all bitcoin #BTC coins is $661.34 billion.

Currently, Cardano's market capitalization was only $10 billion, which means that the digital coin has an incredibly long way to go before it grows in price 87 times. According to the researcher, a more realistic target during the next bullish rally can be considered a peak in the price range from $6 to $8.

The expert stressed that "buying positions remained stable for a long period, which suggests that the current bullish wave was caused by the loss of interest of bears."

The specialist conducted a technical analysis of the Cardano course schedule. He stressed that, according to the MVRV coefficient, the profitability of ADA has now reached a 4-week maximum. The bulk of the growth potential has been observed over the past 7 days. This, according to him, indicates a strong wave of demand during the specified time period.