Cryptocurrency analyst and influencer Ben Armstrong believes the Cardano rally will continue for the next six months.
Armstrong predicts that Cardano (ADA) will hit the $ 8.00 mark by October 31st. At that point, he says, investors will start taking profits.
“At the end of the altcoin cycle, I think it will be around Halloween, I can see Cardano hit $ 8. I can see a lot of people wanting it to be $ 10. And I think between $ 8 and $ 9 people will start taking profits – and that will kind of be the end. “
At the time of writing, Cardano is trading at $ 1.23 and would need to gain over 700% to hit a target price of $ 10.
Armstrong reveals that he believes that Cardano “will go a long way” if its adoption increases.
“We now see some institutions looking at Cardano. And I think there is a reason for that. They understand the long term game, the slow roadmap. “
The cryptocurrency influencer and analyst adds that he believes the upcoming initial public offering (IPO) for cryptocurrencies including bitcoin is bullish.
“… I think Coinbase’s IPO will involve a lot of manipulation as it is beneficial for Coinbase. If you look at Coinbase’s rating, it’s directly tied to Bitcoin’s price.
“There are a lot of people in crypto with a lot of money. And a lot of these people are tied to Coinbase. We know that Coinbase was in the laundry trade a few years ago. They just got a heavy fine for this. So we know it’s not among them.
Of course, they could probably hide it a little better now. I think we’ll see … it will be beneficial for everyone, including Coinbase, if the price of Bitcoin goes up on the day of the IPO on April 14th. “
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