Relentless Slide vs. BTC


#1

I’m interested to hear other people’s thoughts about this relentless slide Ada is experiencing for the past couple weeks. We have slid well below some of the “market indicators” vs Bitcoin, and Ada seems to be just treading water vs. the USD (propped up mostly by an increasing BTC value).

Normally I’d blow this off. Markets go up and down. What bothers me about this current trend is that it’s happening in the face of positive development within Cardano. The roadmap is expanding, partnerships announced, etc, but it seems like Ada is finding Very Few new buyers despite “fire sale” pricing.

Am I missing something here?? Has there been some bad press that I’m unaware of? The project holds so much potential, but I try not to let emotional attachments influence my financial decisions.


Going to buy more Ada. How low can we go
#2

I am concerned about the same.
Most users read Cointelegraph technical analysis which is maintaining bearish stance on Cardano.
They frequently mention Cardano is not finding any buyers(which is true if you see Orderbook of Sell and Buy). and lower their resistance point

I would argue that it is because of lack of Marketing efforts of Cardano. We need to reach out to wider audience, not just Crypto communities.
Charles is travelling around the world to various academic institutions and Seminars. He is doing his best, but, we need marketing.
For e.g EOS advertises in New York

Maybe a coverage on Cardano in CNBC might help.

Having said that, these are good times for those who want to buy ADA at low price


#3

I have been watching this and if btc climbs back to near its ATH would that mean ADA will slide to somewhere around .00001500 ? I think so, but it keeps the Dollar Value somewhere around .35c - .42c which is important I think, cause if btc were to dip again to 8,000 I believe you would still see ADA maintain its dollar value.
And before Traxia comes to Cardano I do want to buy more at a low price.


#4

As I’ve said before, the cryptocurrency community gets bored easily. I expect Ada to keep sliding (perhaps down to even 8th or 9th on Coinmarketcap) until Staking/decentralization phase kicks in.

Now is a good time to stock up…


#5

I am starting to get concerned because I recently re-invested more money in a lot of $$. Now I am watching that investment melt away. I knew there was a risk buying in the down slide, but I did not anticipate this much of a drop.

Cardano needs to get the new wallet out. This downward trend is starting to look like a community confidence problem. I see people writing about wallet issues and fixes in English, which may be easier to fix. I can’t imagine trying to fix wallet issues on windows with a native language of Japanese.


#6

This is completely normal for crypto, if you can stomach the unplanned drop in price and hold a project like this it will generally be a great benefit to you.


#7

Right I get that, its well known. But with the steady down slide of Ada what do potential buyers think? They think “ I will just let it keep sliding down and buy more at a lower price.” Which is Ok, but I prefer a little more volume of activity to keep the coin at a healthier price with healthy activity.


#8

@rickymac, there has been a relatively constant USD “floor” of Ada at somewhere near .37-.42. I guess my main concern is more of Opportunity Cost than “actually losing fiat valuation”.

Nevertheless, when a critical mass of people decide that they’re going to move their money into a more lucrative crypto, prices tend to drop. BTC has been on a big rebound lately, so I’m speculating that people are moving out of Alt-coins and into BTC (look at coinmarketcap and you’ll see that USD valuation of many Alt-coins has been relatively constant, while their BTC valuation drops).

The perceived value of Cardano is their leadership team and academic approach. Critically, they don’t seem to understand that there is a Marketing component that is Absolutely Required for long term adaptation/success. Every major blue chip, for example, engages in self-promotion and marketing. It’s part of corporate valuation. If anyone in the IOHK team reads this, please take your marketing as seriously as you take your development.


#9

They are, wisely IMO, holding off on marketing until there’s actually a fully-functional product.


#10

I tried to familiarize myself with trading bot’s to understand what was really working against Cardano and it looked like to me that its trading is run off of the dollar value and not the btc value, so the price in USD over the last couple day’s imo has been hurt by the bot trading, not the developments or adoption, others have pointed out ‘wash trading’ is happening, but I think silent whales are running bots to increase their holdings and are taking huge daily profit by using the bot’s when if they just held in these times the USD amount would rise with the BTC, its a crazy deal for us fish, but I see it is also as a good thing, in these times that someone can buy in under a dollar they will as part of adding to their crypto basket and hence distribute Cardano to more hands.


#11

I am a fairly new and small investor in crypto. As I do research on different alt coins I have the belief that Ada will reach expectations. I personally love this flat trend, it allows me to improve my position at a great price. Like I said I am a small investor with limited $$$ to invest at a time.


#12

Thanks @Dagst47 I just checked the historical graph on CMC and the dollar value is pretty solid and steady .37 - .40


#13

I think Rob hit the nail on the head here. While the price slide is not great, it’s much worse for people to get interested, try it out, and have a bad experience. Those people don’t usually come back.

Cardano will gain some traction with Shelley, and then a lot of traction when Goguen bring smart contracts into the mix.


#14

I’m happy that ADA has pretty much held between .35 - .40 cents over the past two weeks. It’s remained good n steady and believe that’s exactly what’s needed to provide a firm base for the next set of rises as the project develops. I don’t want to be seeing wild fluctuations right now.

Look at the roadmap and it’ll give you an idea of what to expect over the coming year. It also shows that this is an incredible project, which won’t happen over night if it’s going to be done properly.

I agree with RobJF, you don’t want to blow your marketing on a work in progress. Get something out there then you can really start singing about it.

Hold steady, be patient.


#15

@DarfADA Yes marketing is expensive, how do you really sell a product that is not fully operational? we are lucky to have some type of background that we find cardano interesting and believe in it its potential and understand the time it takes to code and implement such a program - err uh platform - we will be early adopter’s - I do not think that any of the founding partner’s will be marketing cardano in the future though, yet the products that are on the cardano platform will be marketed and supported by the team - just saying I do not see this like other pump blockchains, you won’t see big ADA advertisements paid for by the partners involved in it’s development, that would be funny to see but won’t be happening.


#16

I agree, I don’t see flashy billboards for this, I think the tech and community will take care of that


#17

Dead on the money.


#18

agree - progress is it’s own marketing engine; staking will generate a buzz, just wait.


#19

Motley fool and fox business wrote about Cardano :sunglasses:


#20

Respectfully, I disagree with many of the above comments about marketing. First I’d say that Marketing and Sales are very different. Second, never before, in the history of communication, has self-promotion been so cheap. Finally, almost all of us are here (as investors or just community observers) because we were exposed to the Cardano project somewhere. Raise your hand if this was on the Internet.

There are over 1500 crypto-coins being actively traded, and only a handful of them have “a product”. In fact, only a handful even have an outside partnership or contract in hand with a Promise of a Product. Many are totally without merit.

Yet here we are, with one of the most outstanding technical development teams in the Crypto space, with one of the most promising and transparent projects, and it is struggling to find new buyers. At some point you have to ask Why.

My comments are constructive criticism. I am heavily invested in Ada, and am one of the lucky people who purchased at a very early stage. If I just wanted to make a quick buck, I would have done that long ago (or now for that matter). (So don’t take this the wrong way)

It is my opinion that the Cardano team needs to develop an improved approach to “getting their message out there”. Self-promotion. Marketing. This is not the same thing as selling a product to someone. Charles’ whiteboard video was an eye-opener, fantastic, but it cannot be a stand-alone act. We are encouraged to have meet-ups, as if promoting a grass-roots effort is “enough” if the project has merit. Meanwhile, why do we have to Dig for information about what Emurgo is up to, contracts that have been signed, what’s on the horizon, etc? Come on, this is already More than what Most Crypto Projects have accomplished. Please, Cardano Team, take your marketing seriously. This information needs to be promoted. Without new investors, without fueling excitement about the potential of your work, there is Very Little incentive for people to pay attention to an asset that is declining relative to BTC (and LTC, and ETH, and Monero, etc). Remember, this can All Go To Zero rather quickly.