Crypto analyst and influencer Ben Armstrong expects Cardano’s rally to continue over the next six months.
How high can Cardano go?
Armstrong predicts that Cardano (ADA) will reach $ 8.00 by October 31st. At this point, he says, investors will start to make a profit.
“At the end of the altcoin cycle, I think it will be around Halloween, I can see Cardano reaching $ 8. I can see that many people want it to reach $ 10. And I think between $ 8 and $ 9, people will start making a profit, and this will be the end somehow. “
At the time of writing, Cardano is trading at $ 1.23 and needs to gain over 700% to reach a price target of $ 10.
Armstrong announced that he believes Cardano will “be around for a long time” as its adoption grows.
“Now we see that some institutions are looking at Cardano. I think there is a reason for this. They understand the long-term game, the slow road map. “
The cryptocurrency influencer and analyst adds that he believes the upcoming initial public offering (IPO) is on the rise for cryptocurrencies, including Bitcoin.
“… I believe the Coinbase IPO will bring a lot of manipulation with it, because it is beneficial for Coinbase. If you look at Coinbase’s valuation, it is directly tied to the Bitcoin price. There are a lot of people who have a lot of money in crypto. And most of these people are affiliated with Coinbase. “