Dan Gambardello, a Cardano enthusiast and Crypto Capital Venture founder makes an interesting prediction on the ADA price.
In a tweet, Gambardello predicts that the minimum all-time high for Cardano in the next bull cycle will be $7.80. He did not, however, elaborate on what might have impacted his deduction and belief on the Cardano price, although his later tweets may provide a hint.
Gambardello claimed that as banks and financial systems fail, the emphasis is shifting to cryptocurrency. He believes that the actual crypto bull market will begin in about a year.
From its current price, Cardano (ADA) must increase almost 2,400% before it attains Gambardello's target of $7.80. This might seem like lofty speculation; however, it should be borne in mind that the crypto market never fails to surprise.
Nonetheless, where the market is headed next remains an open question.
As previously reported, ADA Whale, a Cardano community-focused Twitter account, believes in the likelihood of a Cardano bull run. However, the expectation was not for a "2023 story," as this may take time.
At the time of writing, ADA was marginally down in the last 24 hours to $0.30.
Cardano unveils new releases
In its most recent weekly report, Cardano builder Input Output Global (IOG) highlights the advancements made by the blockchain as evidenced in new releases.
This week saw the launch of node v.8.1.2, a minor release of the Cardano node that brings updates to the Plutus interpreter. Mithril protocol's mainnet beta has also been launched, marking an important step forward for the Cardano network.
According to the report's update, the Mithril team is monitoring the network and anticipates that it will begin creating certificates during the next Cardano epoch.