Cardano (ADA)

Will it ever see the heights of last summer? I was told it was a long-termer but it's just been declining since it's ATH last July!

Another hard fork event coming up in June. Historically, ADA pumps in the build up to one, then dumps/declines afterwards

I personally don't think we've seen the bottom. We'll get a June relief pump ahead but we've more pain over the next few months.

On the ADA hard fork. During a bear market, no one cares. It will do nothing for the price. Just like the Ethereum merge, during a bear, no one cares.

I'd love to be wrong, I just don't we're getting out of a bear market this easy.

I love Cardano though and don't currently own any, so I'd love to pick up my position again at the 10 - 20c range.

Thanks for the information; it's really appreciated.

Assuming this is your first investment into crypto, I wouldn’t go putting all your eggs in one basket. If you were investing say, €1000, I’d split it evenly between Bitcoin, Eth, and Cardano. I’m a big fan of Cardano, but you need to cover yourself, and Ethereum is gathering momentum now that could really have it take off once the bear market ends.

Also, the consensus seems to be, things are going to get worse before they get better, so I’d be DCA’ing that investment too, i.e, €100 a month for the next 10 months, rather than €1000 in one go now

just my 2 cents though, I’m sure more clued up Cardano fans will be along with some other thoughts too

Warning signs all over that.

Did this friend approach you with free advice to buy some while it was "cheap", or did they ask you to give them your money and they would buy it for you?

If it is a fairly substantial amount for you, then don't buy Crypto.

If you must buy crypto, then don't buy the unproven risky one.

Cardano has the potential to be useful tech, but don't think of it as the next bitcoin or Etherium in terms of price. It doesn't have the correctly sized market cap to drive massive price runs.

If you are buying crypto because it is in a dip then buy Bitcoin, if you are buying crypto and know little about crypto then buy bitcoin. If you know a lot about crypto then you would already know you should buy bitcoin.

Don't invest money you can't afford to lose. You really have to buy bitcoin and ignore it for 2 years.

Not sure what is meant by a statement in January, maybe you friend was referring the the launch of stablecoins in Jan 23?

I love Cardano and am fairly heavily invested, you can stake ADA your and gain approx 4% on your investment whilst still in possession of your ADA - these can be unstaked and sold off at any time. It reached an ATH of approx $3 in times past and since then there have been many improvements on the network, so theoretically the ATH potential is much higher, somewhere around $7 has been reasonably predicted during another bull run - its not moon or lambo territory but given the risk profile of alt coins I reckon this is one of the best "long term investment" options. Getting in now at 30c is a dream come true if there are no more failures of centralised exchanges.

There are a lot of positives and I'm happily invested in ADA, even during this recession and bear market, having said that I can afford to lose what I have invested, and if I did lose it tomorrow it would hurt, but it wouldn't mean I had to change my lifestyle in any way, its a % of my net worth - I hope your friend told you not to invest anything that you cant afford to lose.

ADA price for Jan 2022 was around $1.032, so clearly on the price you predicted. That's why I trust Coinpedia's price predictions which are always realistic and analysed keeping crypto trends and news in mind.

As we all know Hydra even is scheduled fore next year. Hydra is the next upcoming upgrade of Cardano for layer 2 scalability solution, its mainly aims to increase transaction speed through low latency and high throughput which also offers minimized transaction cost. Prices of ADA will sure be effected by Hydra event. so keeping this in consideration Coinpedia's cardano price prediction for 2023 is $0.71 and Cardano could reach the $1 mark by the year 2024.

Now the question is - Is this the good opportunity to invest in ADA?

Yes ada has been falling fast. Wouldn't be surprised to see 20 cent in the new year

Yea, its a great time to be in a position to buy

Cardano Future - ADA Could Be “Altcoin Of The Year” In 2023

Crypto influencer Dan Gambardello is optimistic about Cardano’s future in 2023, citing its developer activity as a key factor in expected gains. Also Hydra is the next upcoming upgrade of Cardano for layer 2 scalability solution. Hydra will improve the network security and increase its capacities to new heights.

Cardano a major competitor to Ethereum due to its proof-of-stake blockchain may boost in coming days, cardano price prediction for 2023 is to reach as high as $0.71 as per coinpedia. However, the fact that Cardano has passed the $0.25 mark suggests that it may experience a bull run in the near future.

• Cardano price has maintained a stagnant trend without being impacted by the current market sentiments
• While XRP received a bullish push, a similar upswing is expected to kick off a notable rally as the price appears to be at the foothill of a massive explosion

In addition, Cardano's price action so far seems to be corrective from an Elliot Wave standpoint. ADA would need to make a major push north in order to validate the current bullish Wave 3. The market's actions, however, must be constantly watched because they could indicate a trend reversal. So, the levels around $1.16 seem to be quite important and are likely to be reached this year.

Check out at coinpedia what are the possibility of the token becoming the highest gainer in the markets very soon. 

Before this crash Charles was saying they would focus on speed but no timeline. This is their biggest problem, talk and no hard end date. They were one of the only chains that didn’t have an outage but that changed and now they have had one. For a chain that’s focused on stability and reviewed code that’s not good.