Last year, the Cardano community was getting jittery about the postponement of the Shelley release. The Shelley release was postponed a number of times but looking back, this could be the best thing that ever happened to Cardano, at least from an investor perspective. That’s because, had it happened then, chances are that it wouldn’t have had an impact on the price.
In crypto, and in all other financial markets, timing when it comes to the release of important updates is critical. Had Shelley had been released in 2018 when the market was in freefall, it probably won’t have benefited investors in any way. Most cryptos that made major updates in 2018 didn’t reward investors. If anything they sunk deeper into losses. Things are very different now. The market seems to be gaining upside momentum and, if technical indicators are anything to go by, the market could be in an early recovery phase.
In such an environment where investor confidence is returning to the market, any announcements that individual cryptos make are likely to give far superior returns to investors, as compared to what they would have given in 2018. For instance, Cardano’s ledger Nano integration was announced a few days ago, and the market response was very positive. ADA had a good pump, something that was rare in 2018. So many cryptos got integrated to Ledger Nano in 2018 and prices didn’t move at all.
In essence, Cardano (ADA) could be up to some huge gains this quarter. That’s because, Shelley, the most awaited news by the Cardano community, is on track. According to Charles Hoskinson, in his latest AMA, the process is moving fast, and they are now in the final stages of it. To quote Charles,
“…We are in the nuts and bolts of getting Cardano in the final mile. The Shelley work is coming along well. We have a huge amount of work on the specifications, a huge amount of work on the Haskell, a huge amount of work on the rust side of things. We are now in a weekly update cycle…”
On top of that, the team is working on Cardano could staking, and they are in the advanced stages of it. Simply put, Cardano is making huge moves, moves that could see Cardano explode in value once they all these become a reality sometime within this quarter.
All these developments couldn’t have come at a better time. If Bitcoin (BTC) sustains its current price surge, Cardano after the Shelley release could easily re-test its 2017 highs. This is a crypto that has the impetus to make huge gains in a bull market. In 2017 it was one of the biggest token gainers in the market, pushing from a few pennies to over a dollar. A similar feat could repeat if we are now in a bull market again. In the long-run, this crypto could be trading in the double digits. Its fundamentals are among the best in crypto space. Its strength lies in its scientific basis, where everything is researched and peer-reviewed.