Cardano Price Prediction: Analyst Says ADA Set To Skyrocket 650% By July, Yet It Still Might Be Eclipsed By This Bitcoin ETF Opportunity With 20X Potential

ByAli Raza

Updated: 17 November 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The Cardano price has dropped by more than 5% in the last 24 hours, trading at $0.372 at 7 AM ET.

Yet one analyst thinks the ADA price is poised for an extraordinary bull run that will see it skyrocket 650% by July next year.

Cardano’s price has grown substantially over the past several days, reaching a six-month high only 24 hours ago.

The weekly chart shows that the coin has struggled with several key resistances over the past week, including the ones at $0.39 and $0.40.

Cardano Price Expected To Hit $0.75 In December And $6.50 In 2024

Despite Cardano’s current struggle to reach and climb beyond $0.40, crypto analyst Ali Martinez believes the coin has a bright future.

In a recent analysis, which he posted on X for his 32.8k followers, he wrote that Cardano’s current consolidation trend eerily mirrors the 2018-2020 phase without the COVID-19 crash.

He believes that this suggests that ADA could break through the $0.45 resistance in the first week of December and reach $0.75 by the end of the month. That will set it up for a powerful 650% surge overall.

#Cardano's current consolidation trend eerily mirrors the 2018-2020 phase without the COVID-19 crash!

If so, $ADA could break through the $0.45 resistance around the first week of December. The upswing could send #ADA to $0.75 by late December.

Looking to trade this setup? Head… pic.twitter.com/u3KzOsZj2F

— Ali (@ali_charts) November 16, 2023

Bitcoin ETF Approval Could Launch BTCETF Sky-High

While the ADA prediction could bring significant gains to Cardano holders, there is a token that could potentially reward its users even more under the right circumstances.

The token in question is Bitcoin ETF (BTCETF), currently holding a presale approaching $1 million raised.

The token intends to reward holders as Bitcoin ETFs are approved.

The project has set up a list of goals involving the approval, each of which will provide the buyers with rewards once it is met, culminating with the approval of one or more Bitcoin exchange-traded funds by the US Securities and Exchange Commission.

https://www.youtube.com/watch?v=hsO9HNneaDg

While there is no certainty that the SEC will approve the ETFs, many in the crypto industry believe it is only a matter of time before it happens.

The hype and anticipation led to the creation of BTCETF, and given that its presale raised $935.5k as of the time of writing, there are many investors positioning for future gains.

The token’s price right now sits at $0.0054, and those interested in buying it can do so in exchange for ETH, USDT, or purchase it with their credit or debit card.

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