Undoubtedly, Cardano is among the coins that made the biggest breakout this year. So much so that ADA, which experienced an increase of 1600 percent from the beginning of the year to its peak in September, managed to become the 3rd largest cryptocurrency by volume with this acceleration. With a market cap difference of $8 billion to its closest competitor, Binance Coin, ADA is trading about 30 percent below its peak price in early September.
Nigel J. Green, CEO of eVere Group, made predictions for ADA, which has had a good acceleration with the update news since the beginning of the year. The CEO made a statement in an interview with Business Insider:
“I don’t think Cardano’s new rally will last long. With the latest update, it can experience a huge upward wave and reach a price of $ 4 by the end of the year. ”
Responding to the criticism of Cardano’s success, the CEO said, “People say this success came from nothing, but this is not true. “Data from 2017 Ethereum co-founder Charles Hoskinson has been working on ADA, and this acceleration is actually the result of an 18-month bullish run.”
Had Held Previous Forecast
Green had stated a month ago that the ADA would be $3 in September, and he had successfully matched this forecast. Now, we will see in the coming days whether Green, who made a similar prediction again, was right.
When investing in altcoins, investors should definitely take positions according to BTC movements and especially use stop limit orders. Looking at the ADA chart, the $1.85 level appears to be a logical area to stop.