Following a severe market crash, the crypto space is now ascending to new heights, reaching $3.25 trillion, up 0.89%. Despite a marginal daily decline, the Cardano price is reclaiming lost ground amid expectations of ADA ETF approval and Microsoft partnership. Cardano Price Targets $20: What’s Behind the Bullish Prediction? While the Cardano price is hovering below the significant $1 level, analysts and traders remain optimistic that the token could retest its previous all-time high of $3. Many believe that a breakout above $1 could push ADA to new highs, hitting $3 and beyond. However, analyst Sssebi has made an even more ambitious forecast, predicting a staggering 2,757% surge that would catapult Cardano to unprecedented levels. In a recent X post , an ADA enthusiast known as Sssebi, shared their bullish prediction of Cardano hitting $20, citing four compelling reasons. One of the prominent factors pinpointed by Sssebi was the potential interaction between Cardano and Bitcoin. In a groundbreaking revelation at the October 2024 Cardano Summit in Dubai, Cardano was unveiled as Bitcoin’s upcoming DeFi layer, sending shockwaves to the Cardano community. Sssebi believes that the development could significantly impact ADA, pushing its price to $20. Cardano ETF Speculations Spark ADA Rally Another important reason highlighted by Sssebi was the potential approval of Grayscale’s Cardano ETF. In a recent development, Grayscale Investments filed for a Cardano ETF with the NYSE. As this filing came amid the increasing demand for Cardano, investors expect an ADA rally following the ETF approval. While asset managers compete to launch altcoin ETFs tracking assets like XRP, ADA, LTC, and SOL, Grayscale’s initiative may inspire others to follow. If Grayscale launches its ADA ETF, it will enable investors to further diversify their portfolios by incorporating ADA. In reaction to Grayscale’s move, the Cardano price surged by more than 14% to $0.8068, signaling a positive sentiment. The trading volume also rose by 11%, reflecting increased investor interest. Microsoft Partnership and Hoskinson’s Crypto Advisory Role Fuel Optimism Further, Sssebi underscored the significance of Cardano’s potential collaboration with Microsoft in ADA’s bullish rally. During a YouTube live on February 10, Cardano founder Charles Hoskinson revealed that the blockchain platform may enter into a strategic alliance with tech giant Microsoft. Although specifics were undisclosed, the community rejoiced, recognizing the far-reaching implications for both the blockchain and the broader cryptocurrency ecosystem. Moreover, the analyst highlighted that Hoskinson’s crypto advisor role in the Trump administration could be another major catalyst for Cardano’s price rally toward $20. In November, Hoskinson confirmed his support of Trump’s crypto plans, in a bid to reshape the US crypto legislation. Cardano’s Bullish Breakout: What’s Next for ADA Price? Currently, the Cardano token is trading at $0.7949, down by 1.28% in a day. However, the Cardano price has experienced a surge of 13.46% over the past seven days despite a massive 26% monthly dip. The token’s trading volume has also seen a significant plummet of 21%, currently at $659.16 million. In addition to Sssebi’s analysis, other analysts like TapTools also remain bullish about Cardano’s future trends. According to TapTools, the Cardano price is ready to retest its previous all-time high of $3, targeting a new ATH. While forecasts suggest a bullish trend, the actual outcome remains uncertain. So, investors should proceed with caution before making any investment decisions regarding ADA. The post Analyst Predicts Cardano Price To Hit $20, Here’s Why appeared first on CoinGape .
