Cardano price breaks the bull trend line it was following for a couple of months and consolidates point out a possible buy signal
The price may end up a breakout with a mega bull rally, recording gains of more than 25% in the coming days
Well-known Crypto Influencer and Youtuber Ben Armstrong, in a new video, lays out his predictions for Cardano Price with analyst Crypto Jebb.
He says the Cardano rally could continue for the next six months. Also, by the end of October, token will reach the $8 mark, and the investors could reap their profits then.
“By the end of, you know, the altcoin cycle, I think it will be Halloween, I can see Cardano reaching $8. I can see a lot of people wanting it to get to $10. And I think between $8 and $9, people will start taking profits, and that will kind of be the end”
Moving further, he says Cardano is in for the long game and will keep growing as its adoption increases every day.
“We’re seeing now like some institutions are looking at Cardano. And think there’s a reason for that. They understand the long term play, the slow roadmap”.
Cardano is been making news lately, with various developments like Goguen mainnet, Alanzo hardfork, and the most recent OccamRazor launchpad announcement.
It is also been said by Charles Hoskinson, that already many companies are ready to migrate to Cardano.
Coinbase IPO Effect on the Crypto market
Armstrong talks about Coinbase IPO too, he believes the IPO will be bullish for all the cryptocurrencies including Bitcoin.
He further says the crypto market has a lot of traders and investors who come in with a huge money influx, and a majority of these are tied with Coinbase. Also, the valuation of Coinbase is directly incidental to the Bitcoin price.
“There are a lot of people in crypto with a lot of money. And a lot of those people are tied to Coinbase. We know Coinbase was wash trading a few years ago. They just got a big fine for that. So we know it’s not beneath them.
In addition to Cardano, the analyst is bullish on market moguls Bitcoin and Ethereum too.