Cardano is going to crush it in 2021.
It sits at No. 6 on the rankings,
but it should zoom past XRP since we all know it's going backwards
due to the SEC lawsuit against it.
The top two coins, Bitcoin and Ethereum, have recently set all-time highs.
We saw Ethereum go from $300 to $1700 in just a few months.
And we haven't even got to the silly part of this crypto bull run yet.
But Cardano hasn't hit its all-time highs yet.
In fact, it needs a 200% move just to get there.
That's a 3X for you Monday-morning quarterbacks keeping score at home.
The question is not if Cardano can reach all-time highs.
It's when.
And how high is the ceiling.
You got questions?
I got answers.
Let's get it!
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Welcome to BitBoy Crypto!
My name is Ben.
Everyday on this channel, I show you how to make money in cryptocurrency.
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Now, in this video, we're going to be covering your favorite palindrome, ADA.
We're going to discuss the latest developments and then we're going to put on our speculation hats--
believe it or not, we've got one--
as I offer you up a new price prediction for Cardano in 2021.
But you're goning to have to wait for that until the very end of course.
Now, I was lucky enough to have Charles Hoskinson on the livestream yesterday.
Charles or ole Hosky, as he may or may not prefer to be called,
is, of course, the founder of Cardano and a co-founder of Ethereum.
He discussed a lot of the things he's very excited for,
so if you missed that interview, go back to yesterday's livestream and check it out,
of course, after you're done with this video.
Cardano is coming up two key fundamental, technical and technological forks in the road, if you will.
So let's break down all three of these areas.
Let's look first at the fundamentals for Cardano.
And if you're newer to crypto, fundamentals basically mean current events,
at least for today's discussion.
We'll get more into the technology side later,
but one big event coming up for Cardano
is the Mary hard fork.
Hard forker?
I barely knew her.
But what I really want to focus on in terms of fundamentals is twofold.
First, we have the Grayscale news.
And I feel like we got a lot of clarification with Charles yesterday regarding this.
I wasn't really sure how much he could say about it,
but I was very intrigued to hear his opinion.
Basically, he said he can't confirm it because he hasn't worked for Grayscale.
So he doesn't know.
But he implied that the Grayscale trusts that were recently filed in Delaware are likely real,
but they are just skeletons in case Grayscale was able to get regulatory approval for those projects.
So while the Grayscale ADA trust has not materialized yet,
we know that there is probably a good chance Grayscale is targeting Cardano for a trust.
The question I suppose is whether he knows more than he led on to in the interview
because he's been teasing a big month for Cardano in February,
and whatever the thing driving that big month is going to be,
well, that's the second major fundamental event.
I just don't know what it is.
Along with being on my show, Charles also joined me yesterday on Crypto Banter
with Crypto Man Ran.
It was a very good show,
but while we were on that show together,
Charles alluded to a big event this month that should bring much more liquidity to Cardano.
Certainly, if there was a Grayscale trust addition,
that would be huge and fit that description.
However, I do believe what he said from our interview that that probably is not the case very soon.
I would say there is most likely a large exchange listing coming for ADA,
or possibly some kind of new fiat on-ramp.
I can't know for sure,
but I get the feeling,
whatever this is,
it's going to be major.
Now, as far as the technicals or the charts go,
there's also action indicating the price will be going up.
A recent head and shoulders pattern appeared on the charts for ADA.
While that itchy and scalp remedy of a pattern usually means bearish action,
it recently broke out of the pattern to the upside.
By measuring different aspects of the pattern between the head and the neck line,
the technicals are pointing to an upside target of around an 8X from here.
That would put Cardano at $3.20, which is pretty good,
but as we'll discuss at the end when I give you my price prediction,
it ain't gonna stop there.
In addition,
like we've seen with Ethereum recently,
there's been a huge rush of new wallets created.
But the metric I would like to focus on here is the drastic increase in large transactions.
I think there's a very obvious reason for this.
The flow of money in crypto runs from BTC to ETH and down to major caps.
That's where we are right now.
Almost all of the money that has ever entered into Bitcoin
and all the money ever entered into Ethereum
was in profit yesterday.
And much of it today.
This profit has to go somewhere.
And the beneficiaries of this right now are DOT and ADA,
projects seen as the closest competitors to Ethereum.
But the one thing Cardano has over DOT in terms of price is history.
We can easily see the upside of Cardano in 2017 when it went all the way to $1.22.
And like I mentioned earlier, it's a 3X from here.
BTC hit a new all-time high.
ETH hit a new all-time high.
DOT just launched last year.
XRP is going backwards.
ADA is clear for takeoff to run straight to all-time highs.
Cardano should, barring some kind of black swan event, challenge or break its all-time high
by the end of February, in my opinion.
Let's get back though to the technology side of things for Cardano
before we get to my actual price prediction.
The roadmap is now in the Goguen phase,
which, side note,
will not be renamed as the Rogen phase.
Charles confirmed that yesterday on the show.
Many people have waited for this as it will include native tokens.
Now, these native tokens are basically the ERC-20s of Cardano.
Right now, Polkadot is seeing an explosion in their tokens and their offerings.
And I can't wait to see some of the cool ideas come to life in the Cardano ecosystem.
The Cardano community is huge and definitely highly engaged.
Tokens launched on the Cardano blockchain will certainly have a leg up towards success.
Now, these native tokens are going to be big
because they change the way tokens interact with their native blockchains.
Ethereum tokens are built on top of the blockchain.
Cardano native tokens are constructed inside the ledger itself,
which will lead to better compatibility.
Now, so you may be wondering, "Why is this so big?"
Ethereum had so many problems with extremely high gas fees
because it costs money for the tokens to interact with Ethereum.
With Cardano, this is not the case.
It means that the Cardano ecosystem would be primed for decentralized finance.
I told you guys that before.
I believe that's the secret weapon for Cardano that people are not really talking about.
But they will be.
Another recent development was the launch of its new Plutus Playground for Cardano.
It's basically where developers can test out smart contracts on the network.
Plutus, of course, is the programming language of Cardano.
Its entire purpose is to bridge the world of blockchain development
with mainstream computer programming.
There are so many great developers out there well versed
with regular programming languages like Java,
but they don't know how the complicated blockchain languages work, like Solidity.
Plutus solves that by making the transition easier between the two worlds.
This will allow Cardano to pull from a much bigger developer pool.
Whew! Man, I tell you what, there is a lot going on with Cardano as you guys can see here.
Now, I'm so bullish on Ethereum for 2021 that it hurts,
but I really believe that in 2024,
when the next bull cycle begins,
I'm going to have that same feeling for Cardano.
Ethereum is the darling of this run.
Cardano will likely be my biggest pick for the next one.
The thing that separates Ethereum from Cardano right now is not the tech.
It's the institutional investors that are looking more at ETH,
which will prevent a lot of downside volatility.
Cardano is certainly going to crush it in the speculation-based run as well.
So, let's get what you came here for.
How rich are you going to get?
I made a price prediction last year for Cardano that was $2.28.
As we enter this year,
it became apparent how I lowballed it.
And people call me a Moonboy.
I'm going to need some bigger moon boots, about four times bigger, that is.
I think Cardano will peak out at $9 in this bull run.
Everybody wants to see it go to $10.
But the smart money gonna get y'all.
Those start selling off between $8 and $9,
while the degens praying for $10 get left at the altar.
But let me know down below in the comments what your Cardano price prediction is.
Also, don't forget to smash that like button on your way out.
That's all I got.
Be blessed.
BitBoy out.