In a recent analysis by popular cryptocurrency influencer Ben Armstrong, also known as BitBoy Crypto, the potential of Cardano‘s native token, ADA, to make millionaires in the upcoming bull run was explored. His “moon math” is designed to help investors understand what they need to achieve their millionaire dreams by investing in ADA.
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Charting the Path to a Million
Ben began by acknowledging the all-time high of ADA, which was just over $3 in September 2021. However, he noted that it had maintained a steady value of around $1 even during the bear market’s onset. As of his recording, the price had dipped below that $1 support, suggesting a potential surge in value when cryptocurrency prices start to rise again.
“If at the peak of the next bull run, ADA returns to its all-time high of three bucks, becoming a Cardano millionaire would require just over 300,000 ADA at the current price of about 40 cents,” he explained. However, he believes ADA’s price will soar much higher, making the millionaire milestone more attainable.
Ben openly declared his bullish stance on Cardano, emphasizing that he has invested in the project out of personal conviction, not financial gain from Cardano businesses. He argued that it’s realistic to expect ADA’s price to smash through $3 as the next bull run begins.
ADA’s Global Impact and Future Prospects
Ben further elaborated on Cardano’s global impact, particularly in emerging economies. He highlighted its significant presence in Central America, Africa, and Southeast Asia, areas witnessing rapid economic growth. The project’s focus on disruption, he emphasized, has been integral to its success since its inception by Charles Hoskinson and Jeremy Wood in 2014.
Despite criticisms for lagging behind other blockchain projects, Ben praised Cardano’s “long approach” to development.
“While everyone else is out there going fast and breaking things, [Hoskinson] and the IOHK team are actually making things happen,” he said.
The crypto influencer is optimistic about Cardano’s future, noting the growing NFT ecosystem and the impending Hydra upgrade. He even indulged in some “moon math,” proposing that if ADA’s price went parabolic and threatened Ethereum‘s market cap, hitting $10 would require 100,000 ADA to achieve a million dollars.