The last eleven months have been nothing short of slaughter for the crypto market including the king, Bitcoin, and not just Cardano (ADA). The standard expression to refer to a market that is going down is “bearish”, as you probably already know, but this time the bears were really hungry and made life really miserable for everybody.
But there is no doubt that the market will recover sooner or later. In the last couple of days, we’ve started to see green numbers pop up here and there. It’s not a market trend yet, of course, but some coins are starting to push forward once more slowly.
According to experts, the market won’t really experience a new bull run until it hits rock bottom. Many of them think that will happen when Bitcoin goes as low as 3k in price. Yes, that low. And what should we make of this? Nothing, really.
Markets go up and down in cycles, and the cryptocurrency market has had at least four bearish runs that have been as bad (if not worse) than the current one. It’s always recovered and more. There’s nothing wrong with Bitcoin, or any other digital asset. It just so happens that as long as the alt-coin exchanges around the world are ruled by speculative pressure, these episodes are unavoidable.
However low Bitcoin could be right now, it remains the gold among digital assets, and it will remain so until some other token takes over its place as the world’s largest by market capitalization and as a base currency in the world’s exchanges. Maybe Bitcoin is down, but it’s definitely not out.
But even in a market as adverse as today’s, those who can read the signs of the times and know what they’re doing can still make a bit of money. No, seriously. Just a few days ago the market saw a bull run on Cardano’s (congrats to those who took advantage) that made it grow quite a bit. It didn’t last, but you can be sure that those who saw it coming made a pretty penny.
And since we are on the subject of Cardano, let’s dig a little deeper.
It may not be the traders and investors darling coin, but in terms of technological and academic prestige, very few blockchain projects can hold their own against Cardano.
It’s considered to be the best third generation blockchain technology. It has a professional developing team behind it, it’s looking to bring innovations to the blockchain seriously, it enjoys an outstanding reputation among the cryptographic academic world, and it has great potential.
You don’t hear a lot about Cardano in the news. There’s a reason for that. The blockchain projects that are actively trying to find case uses for their tokens (and there are not that many of those, most are quite passive in that regard) are trying to gain adoption in Europe, Asia, or North America. Not Cardano.
Cardano is working to get Africa. That’s because the Cardano leadership knows that in Africa, there is a dearth of financial services of all kinds, so it’s the place in the world in which a good cryptocurrency can be adopted the soonest by a large chunk of the population thus becoming real money quickly.
Many observers believe that Cardano (ADA) will go as high as $8.00 or $10.00 in the following thirteen months. That would be huge as it’s trading at $0.0346 as we write this article. So don’t let yourself be blinded by all the news about the most famous coins in the world. Dig deeper, keep an eye on Cardano’s ADA.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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