When this pandemic first started the markets were hit tremendously and this had a terrible effect on the crypto industry. Terrible in the sense if you were already holding a significant amount of crypto. This is because for many this represented a moment of opportunity as supposed to despair.
At the time of writing the price of Cardano is trading at $1.35 with a market cap of $42 billion. Therefore it’s hard to imagine now that last March it would have been possible to pick up some Cardano for as little as 3 cents. If you were lucky enough to seize this opportunity you would have seen a 45 times return from your investment.
This could lead many to think that they have missed the boat but crypto expert Ben Armstrong doesn’t believe this to be the case and he for one believes that Cardano will continue to outperform Bitcoin.
“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.
A $10 Cardano?
Once again, if you said 6 months ago that the year of 2021 would bring a $10 Cardano you would have had to accept that some people would have thought you were living in a fantasy world. However, after such a rise a 6 or 7 times gain doesn’t just seem possible, it almost appears to be probable.
Binance for example was sitting stagnant for so long and now in the space of two weeks has a market cap of $91 billion. This is more than double the value of Cardano. XRP has also surpassed Cardano with a market cap of $30 billion more. This should encourage Cardano holders that this will happen to them soon, especially when Cardano releases significant news such as their reported contract with an unknown African country.