Trader Jason Pizzino is confident that the cryptocurrency, which has risen in price by 200% over the past month and a half, has not yet left the growth cycle
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Trader and analyst Jason Pizzino predicted that the price of Cardano (ADA) could rise more than 290% in the near future.
According to Pizzino, the growth cycle for altcoin, within which it grew by 200% in a month and a half, has not yet been completed. According to the analyst's forecast, within the current growth cycle, the price of Cardano may rise to $ 10-11. If the altcoin reaches this level, then its capitalization will increase to $ 342 billion (Ethereum's capitalization is $ 441 billion).
On September 7, the cryptocurrency is trading at $ 2.6, and its capitalization is $ 85.5 billion. In August, the asset took the third place in the list of the largest cryptocurrencies by capitalization.
At the same time, the analyst admitted that Cardano may fall in price to $ 1 (a decrease of 62% from current levels) before the altcoin price starts moving towards the renewal of the historical high. Cardano last hit its all-time high on September 2 at $ 3.
On September 12, the network is scheduled to update Alonzo, which will add support for smart contracts to the blockchain. This will allow developers to build decentralized applications (dApps).