Cryptocurrency analyst and influencer Ben Armstrong expects Cardano’s (ADA) recovery to continue for the next six months. According to him, cryptocurrency has a higher appreciation potential than Bitcoin.
Either way, Armstrong believes that Bitcoin will continue to appreciate during this period.
More precisely, the analyst estimates that by October 31, Cardano (ADA) will have reached the $ 8.00 mark. Then, from that point on, investors will start making profits.
As for Bitcoin, the opinion was that the main cryptocurrency on the market will still benefit from the money printing policies of the United States government. So it can reach up to $ 100,000.
Cardano could reach $ 10
Although he is optimistic about Bitcoin, the analyst pointed out that the market is in the cycle of altcoins.
“At the end of the altcoin cycle, I think it will be around Halloween, I can see Cardano reaching $ 8. I can see a lot of people wanting to pump up to $ 10. And I think between $ 8 and $ 9, people will start making profits, and that will be the end, ”he said.
According to the analyst, Cardano is expected to rise more than 700%, as it is currently traded around the US$ 1.23:
“We are now seeing how some institutions are looking at Cardano. And I think there is a reason for that. They understand the long-term game, the slow script. ”
Finally, the cryptocurrency analyst and influencer added that Coinbase’s initial public offering (IPO) is optimistic for cryptocurrencies, including Bitcoin:
“I believe that Coinbase’s IPO will bring a lot of manipulation to the positive side, because it is beneficial for Coinbase. If you look at Coinbase’s assessment, it is directly linked to the price of Bitcoin, ”he noted.
As the analyst pointed out, there are many people in the cryptocurrency ecosystem with a lot of money and many of these people are connected to Coinbase.
“This is going to be beneficial for everyone. The price of Bitcoin should gain a new boost on the day of Coinbase’s IPO, ”he revealed.