Cardano’s native token ADA is hovering around the $0.68 price range on Wednesday. It has performed relatively well in a month, as its price spiked close to 25% since April. It had reached a high of $1.15 in March this year but plummeted by 40% since then until May. The leading altcoin is struggling to climb above the $1 mark again as the bulls are limited in numbers.
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Now that Cardano’s ADA is available at less than $1, is this the right time to accumulate and wait for the long-term? The latest price prediction states that taking an entry now and waiting for the next five to 10 years would bring in massive profits to investors. In this article, we will highlight a tentative timeline for when ADA could reach the $10 milestone.
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Cardano: Here’s When ADA Will Reach $10
Leading on-chain metrics and price prediction firm DigitalCoinPrice is bullish on Cardano’s ADA long-term prospects. According to the price prediction, the leading altcoin will reach double digits in less than 10 years from today. The forecast indicates that Cardano ADA would come close to the $10 mark sometime in the year 2033.
That’s another eight years from today and is considered a long-term investment. Not everyone is able to hold on to their wallets this long as life’s commitments take precedence. However, those who manage to stay invested this long till 2033 could reap the profits that Cardano’s ADA would generate.
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That’s an uptick and return on investment (ROI) of approximately 1,450% from its current price of $0.68. Therefore, an investment of $1,000 could turn into $15,500 by 2023 if the forecast turns out to be accurate. That’s phenomenal returns for an investment period of less than 10 years. Only diamond hands could take the cake, while paper hands might not wait this long to see their money grow.