The Cardano blockchain’s native cryptocurrency ADA is hovering around the $0.35 mark on Wednesday. The leading altcoin has surged by 33% in a year, delivering decent returns to investors who took an entry position in Q2 last year.
Most investors are waiting for ADA to climb above the $1 mark and eventually breach its all-time high of $3.09. None of these are occurring as the global macroeconomic conditions are pulling the prices of cryptocurrencies down.
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However, the latest price prediction indicates that Cardano’s ADA could breach its ATH of $3.09 and surge further in value. This article will highlight when ADA could reach the $3 milestone, delivering massive profits to investors.
Cardano (ADA) To $3: Price Prediction
The leading on-chain metrics and price prediction firm CoinCodex has painted a bullish picture for Cardano’s ADA. According to the price prediction, ADA could breach its ATH of $3.09 and reach a new high of $3.23 in 2029. That’s another five years from today and is considered a long-term investment.
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The forecast estimates Cardano’s ADA will rise by 820% from its current price of $0.35 to $3.23 in 2029. Therefore, if the prediction is accurate, an investment of $1,000 could turn into $9,200 five years later.
The bullish forecast indicates that the leading altcoin could kick-start a rally during the late 20s. Find out how high Ripple’s XRP could reach during the same period.
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Nonetheless, the cryptocurrency market is like a double-edged sword and cuts both ways, causing hurtful wounds to investors.
There is no guarantee that Cardano’s ADA will spike 820% in the next five years and reach the $3 mark. Conduct thorough research before taking an entry position in the altcoin, and trade at your own risk.