It’s been a difficult 48 hours for crypto investors. The market has tanked and wiped off billions worth of value. This is all due to the shenanigans surrounding the bitcoin cash hard fork, and the fact that the global stock markets are also showing signs of weakness is forcing investors off risky asset classes. However, these are short-term issues, and anyone who keeps their eyes on the prize stands to reap big. At this point, it is clear that digital currencies are here to stay, and will change the world. Case in point is the recent speech by the IMF chief about the need for central banks to start issuing digital currencies to avoid losing control.
This statement would not have been made if digital currencies are not taking over the world. Companies are also adopting this technology at scale. Recently, Alibaba sold over $30 billion in a day, and this was linked to the use of technology to ensure a smooth flow of operations. One of the technologies that Alibaba used was blockchain. Clearly, the tech is solid, which makes this meltdown a perfect time to collect good cryptos. One crypto that is worth considering at current prices is Cardano.
One reason why Cardano stands out is that they are still building, as per their roadmap and remains unfazed by the occurrences in the market. Their progress on the goals is still on track. At the moment the team is making huge strides towards Shelley, which is a much-awaited goal towards the decentralization of Cardano (ADA). The team is also moving forward with training sessions to make developers fully versed on functional correctness. In short, all aspects to Cardano’s technical development are all on track.
This makes it highly undervalued considering that the fundamentals have not changed irrespective of the price drop. The same goes for other cryptocurrencies as well, whose fundamentals have not changed in spite of the price drop. This makes Cardano highly undervalued at current prices and perfect for long-term investors to get into the market. ‘
There is also the fact that the current drop has nothing to do with Cardano (ADA). As mentioned earlier, this drop is largely linked to the controversies around bitcoin cash (ADA) hard fork. Once it is through, and the dust settles, there could be a huge run up in the entire market. This could give Cryptos like Cardano (ADA), which were already heavily undervalued before this crash the gas to rise fast in the near future. Actually, this crash could be what the market needed to stir things up and trigger a bull run.
It has been trading in a range for months, and investors have been waiting on the sidelines waiting for a breakout. This breakout if it reverses, would be a false one, and therefore, push the market to new heights. Whether the market turns bullish in 2018 or in 2019, it will come, and the patient will be rewarded. All markets tend to transfer wealth from the inpatient to the patient. This won’t be any different.