The longer picture, part 2: During the previous alpha variant crash on March 2020, $ADA collapsed by 70%, from 7c to 2c. Can you spot this on the chart? It’s this tiny red box on the left.
After this “disaster”, Cardano did a modest 155X at new ATH.
Today, even after the 50% correction from the ATH, we are still 75x up from the March 20 low.
The price as relating to bear market conditions doesn’t actually represent a true vale. It just shows that market is consolidating and investors are reallocating their assets.
Current market is so overpriced in everything. Stocks, crypto, houses, etc… There has to be some pressure released from the market. When pressure is released everything goes down. That’s when you have a chance to pick up projects you believe in at a discount.
Haha, exactly. the more it falls, the more I buy. Simple, isn’t it?
Regarding the over-valued markets, I personally think that the big crash is still a few months away at least (but this is still a guess). The only objective truth is that we are in an over-valuation phase, which eventually will crash down hard.
When this happens, it will take more than a year for all alts, including ADA to fully capitulate, so I’m gonna be patient for this.
For the moment , I still believe we are into a simple correction. For $ADA to get below a $1, and especially below $0.80, it means that BTC will also have to go below $40k. When this happens, then I’ll consider it the final proof for a bear market, but until then I maintain my bull bias.
I agree, won’t stay low for too long im my opinion!
POB sounds interesting but I don’t know much about it to be able to form an opinion. Current staking inflation on ADA’s POS is quite low compared to other POS, and the effect of having a loyal community is much higher than the inlfation rate in my opinion.
The biggest problem with Cardano’s price now isn’t the consencus mechanism, but the complications of using Haskell and and the low rate of DApps. Once more high utility DApss start coming, the price will explode again
There is no panic. Just the value of ADA doesn’t resemble the effort and hard work put in by Cardano developers and the hiped projects. It is undervalued for some reason. CH doesn’t understand our obsession with ADA price. By looking at other alts its just not understandable.
The value of Ada will start increasing for fundamental reasons soon. Let’s examine why here.
The Sundaeswap Dex is going live soon. It’s testnet is starting Today and Charles estimated full rollout around Christmas. That’s the first kind in the Cardano Network. And with very low transfer fees. Which is a huge upgrade when compared to the Eth costs.
The First Cardano Stable Coin just got the ok to. Coti is using it’s network and resources to release that coin, Djed.
Then finally the Hydra Phase is getting finished up here. Since there are now “Hydra Heads” Cardano can scale nearly linearly. That means means that when new resources are added to the network more transactions and smart contracts can be processed all at the same time.
There just so much upside, everywhere on the Cardano Network, the odds up dramatic price surges are in the buyers favor. This is not the same throughout all Crypto Coins. It’s well known to the Ada Community, we do drum to our own beat. And long-term success is a goal that we will definitely achieve.
Correct, usualy during a bearish time the price is severely underpriced (like it is now) but once bullish sentiment comes in, the price can get severely ovepriced as well. The question is at what price $ADA will be indeed considered overpriced in 2022? What I can bet is that it will be higher than $5.
Very good points Jonathan, all of those catalysts can bring the value of $ADA much higher than today. This is indeed a great accumulation phase.
My only concern is about any potential delays in any of those events. e.g. if Sundaeswap mainet get delayed for Feb/Mar, then this will be a big hit on the price. No finalized date for Djet either. Hydra will come late in 2022 for what I understand. In anycase, despite short-term volatility and any-potential delays, the future seems bright