The question of which coin can make you a millionaire soon enough is one of the most common on social media platforms. It’s partly driven by the euphoria of 2017 when crypto prices shot through the roof, and made instant millionaires out of ordinary people. However, the market dynamics are very different now. So, realistically speaking, can Cardano make you a millionaire in 2019?
Well, this depends on a lot
of factors. The first one is the amount of money invested. The more money one
has invested in Cardano
(ADA), the higher the chances that it can make you a millionaire. For instance,
for someone who has $30k invested in Cardano at current prices, Cardano hitting
just $1.5 a coin would make them a millionaire. The threshold gets even lower
for someone who can buy a million or more Cardano (ADA) at current prices. In essence the amount of money invested does
increase or reduce the chances of Cardano (ADA) making you a millionaire in
2019. However, for someone who doesn’t have the money to buy a truck load of
Cardano (ADA) chances of becoming a Cardano (ADA) millionaire are more heavily
tied to other factors, the most important being the price action of Bitcoin
At the moment, Bitcoin (BTC)
is holding down the entire market, since it the most dominant. However, if it
turns bullish, altcoins are likely to grow at a faster rate. In essence, if Bitcoin
(BTC) were to gain bullish momentum and pushes above its all-time highs,
chances are that Cardano would hit upwards of $5. That’s because, unlike in
2017, when Cardano was still early in its whitepaper, its fundamentals are now
very strong. For instance, Cardano is about to release Shelley, which will make
it decentralized, and allow investors to stake Cardano (ADA). Cardano also
developed its wallet over this period, and is integrated with hardware wallets
like Trezor. It is also accessible via more exchanges, and Coinbase will be listing
it soon. This means that its fundamentals are far much stronger than they were
in 2017. As such, the possibility of Cardano (ADA) hitting $5 in a market Bull Run
would be very high.
In essence, it makes sense
to keep an eye on the price movement of Bitcoin (BTC). Several factors support
the possibility of Bitcoin (BTC) making it big this year. One of the factors
that supports Bitcoin (BTC) is the possibility of Bitcoin (BTC) ETFs getting approved
this year. While Bakkt has been delayed several times, it will get approved at
one point. Once it gets approved, it could lead to a significant push to the
value of Bitcoin (BTC).
With such prospects, there is a realistic chance that Cardano (ADA) could make you a millionaire within the year. Not only are its fundamentals good, Bitcoin’s prospects are looking positive too, even though the price may not look that much at the moment. But having a larger amount invested does help. In all asset classes, the amount invested always helps in bringing the riches faster.