If ADA repeats the 2021 growth of 3,775%, Cardano price could reach the following levels

If Cardano (ADA) repeats the 3,775% pump seen in late 2020 and 2021, its price could reach considerable double-digit values at the height of the expected altcoin season.
The current bull run has lasted for about six months and during that time Bitcoin (BTC) has surpassed its 2021 all-time high.
Lower ranked assets like Render (RNDR) and Injective (INJ) are also going through a price discovery phase, having already broken out of their previous all-time highs.
Even though the bull run is still underway, many altcoins like Cardano (ADA) are still significantly below their 2021 highs. ADA, in particular, is trading at a staggering 81.04% below its previous peak of $3.10.
Nonetheless, market participants remain optimistic about ADA’s potential price surge once the altcoin season gathers momentum. Market observers expect the altcoin season to get into full swing this month as Bitcoin’s halving approaches.
Despite the growing optimism, Cardano’s rally potential in this bull cycle remains controversial.
However, The Crypto Basic attempted to assess ADA’s potential value based on historical data, provided the asset is able to reestablish the rally that took it to its 2021 high, at $3.10.
Cardano Bullish Trajectory 2020-2021
Notably, ADA was worth just pennies for a long time following the 2017 rally, only regaining its footing in late 2020. For example, Cardano opened 2020 at $0.03283 and remained near this range for most of the time.
Meanwhile, the coin experienced a 338% rally that year, bringing its price to $0.14 in August 2020. By then, Bitcoin’s halving will have already occurred in May 2020.
However, ADA dropped drastically in September to $0.08. Notably, the recovery from this point was more durable as it maintained a steady path and re-crossed the $1 threshold in February 2021.
Cardano’s uptrend did not cool down until May 2021, when it first traded at $2.3. It experienced a bear market performance for nearly three months before resuming its bullish momentum, eventually reaching $3.10 on September 2, 2021.
From a low of $0.08 in September 2020 to a high of $3.10 a year later, Cardano surged 3,775%.
ADA repeats history
At press time, Cardano is selling for $0.5832. Repeating a similar 3,775% pump within the next year would mean ADA would have expanded nearly 38-fold, potentially taking prices above $21.
Ali Martinez, a well-known market analyst, asserts that Cardano’s current pattern is similar to the one it exhibited in late 2020. Therefore, he predicts that ADA will reach a price of $7 at its peak in this cycle.
Meanwhile, in a subsequent update, Martinez revised his ADA prediction to $8. He believes that ADA can reach this $8 target by January 2025. Other market observers, including Cardano supporter Dan Gambardello, believe that ADA could reach a price of $11.
Disclaimer: This content is for reference purposes only and should not be considered financial advice. The opinions expressed in this article may contain the personal opinions of the author and do not necessarily reflect the views of The Crypto Basic. Readers are encouraged to conduct in-depth research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.