Is ADA the Sleeper Pick for the Next Bull Run? Hoskinson’s $250K BTC Forecast Says Yes
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ADA has risen by 1.5% in the past 24 hours, with its move to $0.644 coming as the crypto market suffers a 2% loss today.
This puts ADA up by 13.5% in the past week, and while the alt has dropped by 14% in a month, it holds on to a 41% increase in the past year.
These gains may be the tip of an incoming iceberg, however, with Cardano founder Charles Hoskinson predicting that Bitcoin could reach $250,000 by the end of this year or the next.
This would represent an increase of 195% from BTC’s current price, and if we were to assume a similar gain for ADA, the latter could hit $1.90.
Is ADA the Sleeper Pick for the Next Bull Run? Hoskinson’s $250K BTC Forecast Says Yes
Speaking to CNBC, Hoskinson voiced bullishness on the basis of an expectation that the recent tariff issues will fade away and stabilize, with the Federal Reserve cutting rates in order to boost growth.
In such a scenario, Hoskinson expects Bitcoin to reach $250,000 by next year, with the original cryptocurrency likely to pull the wider crypto market along with it.
Hoskinson has made similar predictions in the recent past, including in a February interview in which he suggested that $250,000 will be a “minimum” target for BTC during the current bull cycle.
Where exactly this will take ADA is open to interpretation, but one thing that’s certain today is that the altcoin has outperformed the market average.
Its one-day chart (below) shows the coin bouncing up after hitting what looks like a bottom.
Of particular interest is the 30-day average (orange), which fell below the 200-day (blue) at the start of April but has now flattened out.
At the same time, ADA’s relative strength index (purple) has jumped up from the low 30s a week ago to almost 50 today, a sign of increased buying pressure.
And while it may be a subtle changing, the funding rate for ADA futures has been positive for several days now, after a period in which it was either consistently negative or see-sawing between negative and positive.
This suggests that the coin may be turning a corner, and given that it has some of the strongest fundamentals in the market, it should rise strongly soon.
It may reach $0.70 in the next few weeks and $1 by H2 of this year.
Newer Alts Show More Momentum
As bullish as the long-term picture looks for ADA, it may still be a while before the whole tariff situation resolves itself, in which case the alt may not make significant progress.
However, one way of posting quick returns during leaner periods is to consider presale coins, which under the right conditions can rally hard when they list for the first time.
One such coin showing very strong momentum is Solaxy (SOLX), a layer-two network for Solana that has now raised $30 million in its ongoing sale.
This makes it one of the biggest sales of the year, and with over 74,000 followers on X, it’s clear that Solaxy is already proving hugely popular.
As the first proper L2 protocol for Solana, Solaxy will provide users with ultra-low transactions fees and faster confirmation times.
It also offers instant bridging between itself and Solana, with its team planning to add compatibility with other networks once the platform is up and running.
Solaxy is aiming to tap into Solana’s meme coin ecosystem in order to become an important hub for meme tokens in its own right.
And given that its native token SOLX will be necessary to pay for transaction fees, the new alt could attract some serious demand.
Investors can buy it now by going to the Solaxy website and connecting a suitable wallet (such as Best Wallet), with SOLX available at $0.001694.
This price will rise in under two days, and will continue to rise periodically until the sale ends, so buyers should act quickly.
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