By Bitcoinist - 5 months ago - Reading Time: 2 minutes
Cardano Analyst Presents Argument For Why ADA Price Will Reach $30
Cardano continues to be a major player among the large cryptocurrencies and the price of its native ADA token has not escaped the attention of crypto analysts. One such analyst has made a very bullish prediction for the digital asset that has captured the attention of Cardano community members.
Crypto Analyst Says ADA Price To $30
A crypto analyst who goes by @LucidCiC on the X (formerly Twitter) platform has predicted a meteoric rise in the ADA price. Lucid took to the social media platform to share their expectations for the digital asset and why they believe that Cardano will be able to attain such lofty highs.
In the post, the analyst started out by saying that the ADA price is going to $30. They explained that Bitcoin has already shown the world that it is possible for a cryptocurrency to reach a trillion-dollar valuation. They further went on to say that “even Ethereum with all its issues hit $500 billion!”
Apparently, the analyst was trying to infer that if these two digital assets could hit such high valuations, then so could Cardano. Then came another prediction where the analyst said that the crypto market will reach the $10 trillion market cap mark in the next 10 years.
Given this, the crypto analyst expects the ADA price to rise another 100x from its current price level which would put it at $30. Now, given that this prediction means that the altcoin’s price could rise another 10,000% from here, other community members rushed to share their thoughts on the forecast.
Cardano Community Members Don’t Agree
One of the top comments under Lucid’s posts came from another X user who goes by Jimbo. According to them, there is no way that the ADA price would reach the $30 price mark. The user told Lucid “You’d be lucky to get to $3 and I do have a sizable position myself.” Jimbo also lamented the fact that the blockchain is turning into a “ghost chain” as the blockchain is “impossible to work with.”
Lucid remained undeterred in their prediction, however, coming back with ammo to counter Jimbo’s ghost chain claims. They shared a chart that showed that Cardano remained in the lead for developer activity in the month of October. But Jimbo fired back with a spreadsheet that showed Cardano is not even in the top 10 in terms of weekly commits and weekly active developers.
Lucid’s retort to this was that other blockchains were getting hacked while Cardano remained “the most secure blockchain in the entire market.”
Another X user also expressed their displeasure with Cardano, saying “Cardano hasn’t accomplished anything other than trick innocent hardworking people to invest in its scam shitcoin.” However, Lucid responded that the network is more decentralized than Bitcoin.
Original source: Bitcoinist