[Analysts predict that Cardano will be bullish in the future, with a target of $5]
One cryptocurrency analyst predicts a bullish trend for Cardano (ADA) on X, noting that ADA’s performance in this bull run is ten times stronger than the previous one. The analyst said ADA is down 88% from its highs and down 92% in the previous cycle, showing it is in a stronger position. He also mentioned a number of factors promoting the growth of ADA, including the transfer of blockchain governance from IOG to the community, forming a decentralized governance model. Cardano founder Charles Hoskinson predicts that the platform will become the largest crypto ecosystem.
Analysts also highlighted other key developments, such as IOG’s burning of Genesis keys, the launch of Hydra’s expanded functionality, and the growth of the DeFi ecosystem. These factors solidify Cardano’s market capitalization ranking, keeping it in the top 10 despite the bear market.
ADA price currently stands at $0.363, rebounding from $0.332 last week. Analysts believe this rally could be the start of ADA reaching $1 in December and could push it further towards $5.
