Despite Cardano (ADA) trading significantly below its 2021 high, market participants maintain an optimistic outlook on ADA's potential surge in the upcoming altcoin season post the Bitcoin halving this month.

To assess Cardano's rally potential during the current bull season, historical performance from late 2020 to 2021 has been analyzed by The Crypto Basic.

Following its recovery in late 2020 after trading at low values post the 2017 rallies, ADA demonstrated notable growth. The token experienced a 338% rally in 2020, increasing from $0.03283 to $0.14 after Bitcoin's halving in May 2020. Despite a dip to $0.08 in September 2020, Cardano's recovery was steady, regaining $1 by February 2021 and hitting $2.3 by May 2021.

On September 2, 2021, Cardano reached an all-time high of $3.10, showing a remarkable 3,775% surge from its low in September 2020.

If Cardano replicates a similar surge in the upcoming year, its price could potentially reach above $21, attracting the attention of market analysts and investors.

Market analysts like Ali Martinez and Dan Gambardello have suggested various price projections, with Martinez revising his initial projection from $7 to $8 by January 2025. Gambardello even mentioned the possibility of ADA reaching $11.

Although optimism surrounds Cardano's potential rally, it is advised to approach the cryptocurrency market with caution due to its volatile nature and unpredictable price fluctuations.