Why is eldorado a mythical place?

El Dorado is considered a mythical place because it represents the legendary city of gold sought by explorers during the Age of Discovery. Originating from indigenous tales in South America, it symbolized immense wealth and prosperity, leading many to embark on perilous quests in search of it. Over time, the idea evolved into a metaphor for unattainable dreams and the allure of riches, making it a lasting icon of adventure and folly in mythology.