Prominent Market Pundit Highlights Potential Upside for Cardano

Alex Becker, a well-known market analyst, has stated that Cardano could see a four to fivefold increase from its current market dip.

In a Tuesday YouTube podcast, he expressed optimism that smart investors could take advantage of the dip to accumulate this layer-1 digital asset, potentially yielding a 4x to 5x gain.

Although Cardano, the eighth-largest cryptocurrency, has experienced a mixed price reaction recently, it remains mostly bearish. Its price has declined since a remarkable over 53% increase on March 2 following Donald Trump’s inclusion in the US crypto reserve.

Despite previously criticizing Cardano, Becker labeled its price as “ridiculously low” and encouraged market enthusiasts to purchase ADA and other high-quality digital currencies, believing they could realize significant gains.

Becker Urges Investors to Buy the Dip

He emphasized that the recent downturn provides a tremendous buying opportunity for Cardano and other assets. Becker compared the situation to Bitcoin’s over 25% drop from its all-time high during the market’s turmoil from FTX and the Covid-19 pandemic.

He noted that past downturns have proven profitable for long-term investors, encouraging crypto enthusiasts to overlook current challenges and invest in assets with sustainable prospects.

Becker listed a few asset examples, including Cardano, indicating that it could potentially quadruple or quintuple in value when the market recovers and as it strives for new all-time highs.

He also highlighted Solana, Near, and Bittensor as resilient cryptocurrencies likely to witness upward trends. Although he remarked that such substantial increases might take years, he remained confident they would eventually happen.

Cardano Positioned for a Swift Recovery?

Becker’s analysis aligns with recent observations regarding ADA’s price movements, with some suggesting Cardano has shown a reversal signal, hinting at a potential rebound to $0.92.

Additionally, analyst Dan Gambardello speculated that Cardano’s trend towards a price of $10 is still achievable despite the market decline, insinuating that the layer-1 coin could recover significantly from the recent correction.

Currently, Cardano is trading at $0.735, reflecting a slight increase of 2% today after an 8% surge yesterday.