Bitcoin (BTC) has hit multiple all-time highs over the last few weeks. The original cryptocurrency climbed to a new peak of $99,486.10 earlier today and is inching closer to the $100,000 mark. BTC’s rally has also led to other assets breaking out into rallies. Cardano (ADA) also follows BTC’s trajectory, experiencing a healthy rally over the last few weeks.
ADA’s price has rallied 10% in the daily charts, 45.9% in the weekly charts, 101.8% in the 14-day charts, and 135% over the previous month. The asset’s price has also surged by 133.6% since November 2023. Cardano had slipped out of the top 10 projects by market cap but has since reclaimed the 10th spot.
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Will Cardano Hit $1 If Bitcoin Reaches $100,000?
Hitting $1 from current price levels will entail a rally of about 16.28%
According to CoinCodex, BTC will continue rallying over the next few weeks. The platform anticipates the original cryptocurrency will breach $100,000 in early December. CoinCodex analysts predict BTC will trade at $100,896 on Dec. 2, 2024.
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CoinCodex also anticipates ADA to rally over the next few weeks. The platform predicts the asset will trade at $1.01 on Dec. 20, 2024.
Cardano (ADA) is also one of the most developmentally active blockchain projects. High developmental activity is a solid metric for a project’s future growth. If BTC hits $100,000, we may enter another bullish phase for the crypto market. Other assets may also climb to never-before-seen levels.
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There is a lot of talk about US President Donald Trump electing a “crypto czar.” The move could lead to increased investor sentiment. Trump’s pro-crypto stance could also lead to increased fund flows for the crypto market.