This is one of the coin in which I have been interested and invested in. A couple of months ago I got invested into this coin at a price of .06 and recently if you see the price went up to .13 and now it is around .12.
I have always found Cardano very promising amongst all the altcoins and hopeful of it giving good returns over a period of time and I see that it is keeping up to it's expectations.
Well I do not understand technicalities of the Crypto price functioning, but with the little understanding I can get, there are some favorable conditions for Cardano which is leading to it's price rise.
End of this month there will be a Hardfork happening for Cardano. Cardano does not have any miners, users who run the nodes maintain it by staking and in return benefit from the rewards system. It is based on the Shelley upgrade and as it advances the platform becomes more and more decentralized compared to other blockchain networks, which makes it more attractive for the end users.
In the last 2 years, Cardano has finally broken it's critical resistance level which has caught the attention of the traders.
The 3rd one I do not understand it very well but it is the growth of the DeFi market. Now how it is driving the price I am not sure, but it is impacting in some way
In the last 2 years, we have seen a huge decline and stagnancy with most of the Altcoins. Cardano gives hope to it's investors. Since the price is so less it is a good entry point even for now and keep it for some period of time and I am sure it is going to give back good returns. The one good thing that I see for this coin is that it has been on a continous improvement road
It is a good investment for small time investors, but again Crypto space is an unpredictable one so one can never say with 100% guarantee the ups and downs of it.
It is a risk that one needs to take and yes if it booms it's good luck.
My suggestion is to not go in for very big stakes so that even if it does not perform well it does not hurt much.
But from the place where we are now, down the line the coins will have some good value from what it is now, so the risk level is not much unless the value becomes zero :-)
Let me know what are your views on this coin, do you think it has a potential to reach to a value of $1 over a period of time. I have a feeling it will.
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This is the sad reality - I have been holding 10k $ in exchanges to invest, but can't decide where to invest 🤓 Sometimes I think, its better to just have them in fiat.
May be a little bit of study on Alt coins will help you decide.
What I feel personally is, you can simply invest in Hive or some other stable coin, 2 to 3 years down the line, anyone you invest in now will be in a better place giving you good returns for sure, unless it just dissolves.
hi @nainaztengra, .. I was checking the altcoins and noticed it went up about 17% day before yesterday. 😀, .. having said that it's down 6% today 👀
Let's see what it brings, it has been consistent in the last couple of days, so from there it either gives another upward swing or probably go back to .07 or .08 value
Lol, never knew you were that much involved in trading and investing....good that you found hive and started investing in other coins too.
I remember holding cardano around 1100 sats something or whatever it is. It stayed there for a couple of months last year. Then broke down to 700-800 sats.
I bought it around 900 again, and rode up to 1500-1600.
That was a nice ride up, one of the best trades in my last year. So, might look into it again.
Talking about this one. Hope you gain something good out of it too.
I am not into the trading action, I have bought and kept it, when there is a good surge I will cash it out. So let'e see, It looks positive to me so far
Wow, that's how millionaires are made!
I had few cardano's but sold just recently. If you are in twitter, there are some stories about it's creator. I wonder which are other coins I should have other than Hive.
I am not much into the Altcoins except for Steem, Hive and Cardano so really not sure where you can invest. Let me check it out, but then I feel there are some stories for every coin and a lot of personal views on each coin so it becomes difficult to judge
exactly that, sometimes it's just so hard to judge but rationally, you can see the chart.
I think people or businesses must support BTC more because it is the factor that drags Altcoins up @nainaztengra :)
That's very true @cryptopie. BTC is the driving force