[Digital Today intern reporter Seung-a Yoo] Crypto YouTuber The Modern Investor presented a $5 price target for Cardano (ADA) on the assumption of a bull market in which bitcoin (BTC) rises to $295,000.

On Oct. 14 (local time), crypto outlet The Crypto Basic reported that The Modern Investor forecast major cryptocurrencies such as bitcoin, ethereum (ETH), XRP and Cardano could rise sharply in this market cycle. He argued the cycle could follow past bull-market patterns or become a catalyst for the crypto industry to grow on an unprecedented scale.

The Modern Investor said bitcoin could rise to $295,000, ethereum to $11,000, Cardano to $5 and XRP to $8.95.

At the time, Cardano was priced at $0.2348, up 0.4 percent over the past 24 hours and 13 percent over the past month. A rise from that level to $5 would amount to gains of about 2,030 percent. The increase would be $4.7652, more than 21 times the current price.

Bitcoin was trading at about $83,400 at the time. It was up 7 percent over the past month, and reaching $295,000 would imply a rise of about 254 percent. The increase would be $211,600.

He cited tokenisation of real-world assets, artificial intelligence (AI) and a friendly regulatory environment as reasons this bull market could surpass past cycles. He also mentioned a forecast that the value of tokenised real-world assets could reach $5 trillion to $10 trillion by 2030, or about 6,710 trillion won to about 13,430 trillion won.

Tom Lee (톰 리), co-founder of Fundstrat and chairman of Bitmine, also forecast the current bull market could surpass past cycles. He said tokenisation, AI and improvements in the regulatory environment would differentiate this cycle from initial coin offerings (ICOs), meme coins and stablecoins that led past bull markets.

The Modern Investor also cited cases of large-scale ethereum buying and XRP accumulation. He argued institutions and high-net-worth individuals are building investment positions ahead of major market swings. He also presented an analysis that some investors are accumulating digital assets to hedge risks, citing concerns about a possible stock-market plunge, an AI bubble and rising global debt.

Cardano rose to $3.10 in the 2021 bull market. Even so, reaching $5 would require a large additional rise even from that level. The Modern Investor's target is an individual's forecast premised on a strong bull market, and whether it will be achieved is not guaranteed.