TL;DR:

Cardano’s native currency has taken a tumble, falling significantly in value within the last week. However, historical patterns suggest that these downturns can lead to impressive recoveries and gains for the asset. In fact, experts predict Cardano could surge all the way up to $6 per token.

In the shorter term, Cardano hasn’t had the best couple of weeks. The price dropped from around $1.20 to under $0.80, although it has bounced back slightly to about $0.90 currently – a loss of around 25% since December 12th. But if you look at the bigger picture, things start to look better. Prior to the U.S Presidential election, Cardano was trading in a narrow range between $0.30 and $0.40. After positive news from IOG’s founder, Charles Hoskinson, and some encouraging results post-election, the token skyrocketed to reach a multi-year high of over $1.30. Even considering its recent drop to $0.90, it’s still shown significant growth of 160% in less than two months.

So why should we remain optimistic? Well, leading crypto analyst Ali Martinez suggests that Cardano’s recent dip might not be something to worry about. Instead, it may just be part of a longer cycle – like the ongoing bull run – where temporary setbacks pave the way for future successes. Martinez points out that Cardano seems to be mirroring its price action from early last year. During that period, a significant pullback occurred immediately after a substantial uptrend “coincided with the correction we are experiencing today.” Therefore, based on these parallels, he predicts Cardano will smash through its current all-time high of $3.09 and climb even higher, reaching a new peak of approximately $6. If this happens, Cardano’s market cap could surpass $200 billion, making it the third largest digital currency in terms of market value. It’s worth noting though that these figures assume the current state of the market remains unchanged.

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Source

Source: cryptopotato.com