More often than usual, making tremendous profits from digital asset investments seems to occur frequently in the crypto space. Although, at times, losses might play out. However, over the years, patience has played a significant role in most profitable crypto adventures, and we shall see how it applies to making $2 million from a $2,000 Cardano (ADA) investment.
According to Cardano’s data on CoinGecko, the digital asset is changing hands at roughly $0.47, having registered a 3.3% decline in the past 24 hours. Investing $2,000 in ADA at its current price status would be sufficient to procure about 4,255.3 tokens.
Read Also: Bitrue Sparks XRP Price Speculation With Bitcoin ETF Approval
Based on calculations, buying and holding 4,255.3 ADA tokens would only sum up to $2,000,000 if the digital asset eventually appreciates to a $470 price level, which appears ridiculous, considering the token’s current price.
Nevertheless, the possibility of ADA at $470 is not far-fetched, as the crypto marketplace is unpredictable, with surprises that could catapult any digital asset price, including Cardano (ADA), to astonishing levels.
Price Prediction Platforms Projects Potential Timeline For ADA At $470
Changelly, a renowned analytical and digital assets prediction firm, projected that ADA could hit $470 in 2050, about 26 years from now.
Telegaon, another price projection platform, predicted ADA around $470 as highly impossible, stating that the token would barely reach a $42.41 average price in 2050.
Google’s Artificial Intelligence model, Gemini, was also consulted. The chatbot considered ADA at $470 a highly unrealistic target. It added that it would require a massive increase in market capitalization, markedly superseding the entire crypto market cap in the 2021 bull run.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Projected Timeline For Cardano (ADA) To Reach $3.10 All-Time High
Cardano (ADA) Short-Term Outlook Predicting A Bleak Outlook
Since April, Cardano (ADA) has seen a steady price reduction. It dropped below $0.5, after trading above $0.7 in March, according to Coincodex.
Since this month, ADA has fluctuated between $0.43 and $0.48, implying that it might not break above $0.5 anytime soon.
Moreover, the ADA risk analysis assessment revealed that the coin is trading below its 200-day Moving Simple Average (SMA), has only 13 green days in the last 30 days, and was outperformed by 69% of the top-ranking crypto assets, including Bitcoin (BTC) and Ethereum (ETH).
Follow us on Twitter, Facebook, Telegram, and Google News
