Crypto Analysts Predict: This is How Long It Will Take to Become a Millionaire with a $1,000 Investment in Cardano

Cardano (ADA) is performing quite poorly this year, unlike some other crypto projects. As a result, the coin has been overtaken in recent months based on market capitalization by, among others, Dogecoin (DOGE) and Toncoin (TON).

Still, analysts at the crypto exchange Changelly remain optimistic. Among other things, they outlined a scenario describing how long it would take to reach the $1 million mark with a $1,000 investment in ADA.

An ADA price of $480 in 2050?

At the current price of $0.48, the price of ADA would have to rise to $480 to turn a $1,000 investment into $1,000,000. Although that sounds absurd, Changelly analysts think it is possible. They predict that Cardano will reach such a price by 2050.

The analysts also explored when the crypto is likely to break its previous record. They expect Cardano to surpass its old all-time high (ATH) of $3.09 by 2030, which would represent an increase of almost 550%. This could make a $1,000 investment worth $6,500 in six years.

Short term predictions

For the less patient investors, several analysts have also made predictions with a shorter term in mind. Analyst Javon Marks projects an increase of as much as 1,500% over the next year, which would push ADA’s price above $7. This would mean that an investment of $1,000 today would grow to $16,000 in a year.

Well-known analyst Ali Martinez also expects a significant price increase. He refers to the MVRV ratio, an indicator that compares the market value with the realized value. A recent decline in this ratio to below -22% indicates an oversold level, which previously signaled an increase of 75%. If history repeats itself, Ali expects ADA to approach a price of $1.

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