Cryptocurrency analyst Dan Gambardello has reiterated claims that Cardano price is headed to $10 in this cycle.
Several cryptocurrency analysts have been touting Cardano price to clinch $10. However, critics are tagging the projections as outlandish. But one analyst has picked up the gauntlet to rationalize the claims of ADA reaching $10 during this cycle, citing a slew of factors.
Cryptocurrency analyst Dan Gambardello has once again set out to defend claims that Cardano price is headed to $10 in this cycle. According to his analysis, Gambardello poked a hole through the barrage of criticisms leveled against ADA optimists backing the asset to reach $10.
Gambardello began his analysis with key ADA fundamentals, citing its speed, decentralization, scalability, and security standards. He points to incoming Bitcoin DeFi and the potential unlocking $2 trillion opportunity for Cardano. The recent Cardano Lace Wallet retrofitted with multichain functionality specifically for the Bitcoin blockchain underscores the point.
The analyst turns his gaze to the impending end of quantitative tightening and the start of quantitative easing by the Federal Reserve and its potential for cryptocurrencies. According to Gambardello, the move signals a major “bullish catalyst” for ADA given the uptick of liquidity flooding the market.
Gambardello bolsters his argument with ADA’s inclusion in the Digital Asset Stockpile as proof of Cardano’s price climbing to $10.
At the moment, ADA is trading at around $0,70, a far cry from the projected $10. However, Gambardello argues that the Cardano price can clinch reach $10 given its positives.
“A $10, $350 billion market cap sounds crazy to a lot of people, I understand. But I will not ignore the possibility of it just because it sounds crazy.”
The analyst goes on to cite Cardano’s run to reach an all-time high, surging from $0.3 to $3.09 back in 2021. Gambardello says that at the time, Cardano price climbed by nearly 1,000% without smart contracts or an inclusion into the Digital Asset Stockpile.
A move toward $10 represents a 1,300% jump for ADA, which Gambardello says is within reach given Ethereum’s price action during the last bull run.
While Gambardello did not give a clear timeline, he disclosed that multiple ADA retracements are a real possibility before the final march to $10.
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