CJ - Cryptocurrency Specialist
In the current bear market, cryptocurrency values have substantially declined from their all-time highs (ATHs), with the market leaders in terms of market cap, Bitcoin (BTC) and Ethereum (ETH), falling 50% from their ATHs set last year. On the other side, others in the Bitcoin trading industry view this bear market as an opportunity. One member of the cryptocurrency community that views the current market as favorable is the Twitter user @cryptorecruitr. According to him, BTC will eventually reach $150,000 and Cardano (ADA) will reach a price of $10 per coin. But he does say that this is just his opinion.
In fact, the bear market has opened up a variety of investment opportunities because prices may not always accurately reflect the true value of projects in the area. A good illustration of a coin's price not accurately representing the value of its associated project is Cardano. The project seems discounted, although it's questionable whether ADA will ever reach $10. When estimating the value of ADA, it is important to take into account the Vasil Hard Fork, which is expected to occur later this year, the fact that Cardano outperforms its rivals in terms of daily transaction volume, as well as the total value locked (TVL) in all Decentralized Finance (DeFi) applications built on the Cardano blockchain.
The market value of ADA will reach $450 billion if @cryptorecruitr's price prediction for the cryptocurrency comes true one day, assuming that the supply of ADA stays constant. BTC's market valuation of roughly $550 billion makes this viable even in the current bear market.
However, given the massive supply, it may take a few market cycles for this to materialize.
People are always looking for market bottoms or tops, but majority miss it, so why not start investing in cryptocurrency now, if you believe that the projects you are scouting to invest are undervalued? You can buy Cardano or any other cryptocurrency at BCBitcoin – a well-known cryptobroker.