I have to talk about Cardano (ADA) as a real quandary. We are adults here - should we talk of fiat price? Yet we need a benchmark.
I believe in technology. Whilst am technically a BTC maxi, am a believer in true choice. Ever nail needs its hammer.
According to CoinGecko, it sits at number 12 in terms of fiat market cap - £10.3bn. It reached £2.24 and now is at £0.27. 27 pence!
Yet ADA is number 12 in the coin rankings. It can only make that by inflation? Yet it is claimed the inflation rate is tiny. Which means other coins have collapsed further.
If we look at many influencers over the last year or so, they were banging on about Cardano reaching $6, $10.
Every time Cardano goes up a few percent, no shortage of YouTubers and Twitter Crypto Shills claim this is the sign, we are early, buy now or miss out.
We must also ask. Okay, so imagine - "I bought $10000 Cardano and it went back its all time high?" Well, that is too much faith. Same as XRP. The data tells you that ADA is falling lower, way lower. Are you comfortable doing that?
The only way to solve this is through swing trading. Accumulate coins at their low, gain more, hoping for their rise but seeing BTC as the top dog.
