This is almost a textbook case illustrating the anatomy of a bubble.
How is that different from the chart of every other crypto?
Not much difference.
ADA and the rest of the market seem to parallel BTC at the moment. This next down trend has less to do with an ADA bubble but more so with the entire market trend.
Looking forward to those stake pool rewards that are undervalued !!! Talk about exponential gain!
Everything is a bubble. The question is what are you going to buy during the bottom of the crash, and what do you think will have value in 5 years?
all alt coins always track BTC/ETH because that’s their trade pair. If you look at ADA for the last week it’s kept pretty close to a .00005 BTC value and its dollar value just goes up and down as BTC/ETHs values goes up or down.
omg - this is so lame - this chart comparision only works if you look at ada/btc at 1W
Thank you very much for your respectful and incredible constructive criticism.
Sure, ADA would need to be paired with USD for real for a fair comparison. With regards to BTC it is holding up very well.
I am trying to see something positive in the comparison saying that the turmoil might be over for now.
Sorry if you feel i was rude friend But i can assure you that you need a longer time line (1w) to be able to “see” the pattern you… “search”…
I would even argue we are not past the “stealth phase”
Could be that there are several timescales in layers (big bubbles and smaller bubbles)? Similar to the Elliot Wave theory. You can see a similar large scale pattern if you look at BTC since the 1st of January 2017 until now.
But we are humans after all and try to find patterns in everything.
You need years and mass adoption to see that chart “happening”… atm there are LESS than 0.5% of world population that uses crypto - I insist (Cardano) is still in stealth phase
Well, bubbles do not have to be huge. They can be relatively small as well. I claim that what happened over before, during and after Christmas was a “small” speculative bubble.
I dont care about short term price of Ada - our plan is to stay here at least untill the last one is minted…. You posted a “graph” that has a timeline - i would not search for that pattern IF the timeline doesn’t match
I believe your disinterest is of minor importance in this particular discussion.
I can take a snap shot of any assets value during its lifespan and create a graph that looks like the classical bubble. This same graph has been posted on Reddit numerous times for ethereum. Taking into account the amount of fiat currencies that have been printed/created the past few years, there’s lots of growth yet to happen
To say Ada has reached “delusional” stage at the infancy of exsistence is quite humorous. You realize staking hasn’t begun yet?
Humans try to find patterns everywhere. Given the pattern I would say that we are going back to the mean again. I still believe it was a short term bubble due to the incredible pumping before Christmas. I think many people new to the market went through all of the psychological phases described during a few weeks. Maybe you want to use another word than “bubble” ? Many debates are fruitless unless the different parties settle upon a common understanding of the terminology used. Remember Wiio’s laws (https://en.m.wikipedia.org/wiki/Wiio’s_laws) : “Human communications usually fail except by accident.”