Cardano is one of those coins that could potentially be the next “big thing”, and many people are speaking of it that way. While the circulating supply of the coin is definitely huge, the value is determined by other factors. The solutions Cardano is trying to bring are simply brilliant and if they will succeed, the value should skyrocket and could potentially outperform Ethereum in the medium to long run.
Statistically, coins with huge potential are moving upwards buy 40 times in a strong bullish market and this could be applied to ADA/USD. The bottom has been found at $0.12, and multiplied that by 40 would give us a $4.8. Yes, this is the price for 1 Cardano that could be expected in a not so distant future, and this price corresponds to the 361.8% Fibonacci retracement level.
This target could be reached in the next 3 to 4 months if the bullish momentum will continue, and by the end of the year we could see Cardano price at $8 and above. Perhaps this is a very optimistic scenario and many would say its unreal. Just remember what people where saying about the Bitcoin when it was worth less than a $1.
Click on the chart below to see some calculations of the future Cardano price.