The value of Cardano (ADA) has increased significantly in recent days. The asset has increased by 77.4% on weekly charts, 78% on 14-day charts, 68.1% on monthly charts, and 57.8% on the yearly charts. At the moment, ADA is performing better than Bitcoin (BTC), which has increased 18.2% in the past week and nearly 20% in the 14-day charts. With its most recent surge, ADA has returned to the top 10 projects by market capitalization.
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Source: CoinGecko
What’s Pushing Cardano?
ADA’s rally is likely due to Bitcoin (BTC) hitting the $80,000 mark. The original cryptocurrency hit another new all-time high of $81,800 earlier today.
Source – TradeSanta
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The BTC rally, on the other hand, could be due to Donald Trump winning the US Presidential elections. Investors and market participants may be optimistic about a Trump administration due to his pro-crypto and pro-business stance.
Will The Asset Hit A New All-Time High?
Since reaching its peak of $3.09 in September 2021, Cardano (ADA) has now dropped more than 80%. ADA has had difficulty regaining the same momentum after its peak in 2021.
CoinCodex analysts predict that ADA will continue to rise over the coming weeks, reaching $0.695211 on December 10, 2024.
Source: CoinCodex
It can take more than a few weeks to reach a new all-time high. Changelly predicts that in March 2030, around five and a half years from now, ADA will regain its peak of $3.09.
Source: Changelly
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Compared to Changelly, Telegaon analysts are more optimistic about ADA. The platform predicts Cardano (ADA) will hit a new all-time high of $3.13 in 2026, about two years from now.
Source: Telegaon
If ADA continues its bullish momentum, there is a possibility that the asset will hit a new all-time high much sooner than anticipated.
