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Dan Gambardello, the founder of Crypto Capital Venture, is bullish about Cardano (ADA). As one of the biggest advocates for the coin, he has predicted that the coin will hit $0.5 by the end of October.

Gambardello bets 1,000 ADA on $0.5 ADA prediction

It is worth noting that ADA is currently trading at $0.3535, about 40% away from the price level predicted by Gambardello.

For Cardano (ADA) to reach the predicted level, it would require strong catalysts or a notable milestone — probably an event that would drive liquidity toward the coin and increase its demand among investors.

However, Gambardello seems very confident about his forecast, even promising to give 1,000 ADA coins to one of his followers should his forecast falter. The financial expert did not share the basis for his prediction, but he is likely resting on the historical reference of October as the traditional bullish month.

Beyond Cardano, even Shiba Inu bulls and other altcoins look forward to the Uptober ride.

Cardano marks series of milestones

Additionally, ADA's current outlook supports Gambardello's bullish stance. Some upcoming updates might push the coin toward its next 52-week high. Cardano plans to catch up with the Ethereum ecosystem regarding its Layer-2 scaling solution.

In light of this goal, Sundaeswap, one of the dApps on Cardano, said it has finished the initial draft specification for its L2 protocol, Gummiworm. Markedly, the startup designed the protocol "to provide fast and instant transaction finality to Cardano DeFi."

Meanwhile, Cardano reached a significant milestone a few days ago by hosting its first legally enforceable smart contract in Argentina.

According to the notification sent to the Cardano community, the enforceable contract is in full compliance with the laws of the Argentine Republic. More such events could bring about a price rally for ADA.