CardanoLong
Those must be one of the best times to buy Cardano tokens [ADA]
Updated
It very rarely happens that a coin similar to both BTC (UTXO model/limited supply) and ETH (programmable/smart contracts) has its bearish low lower than the last cycle's highest top.
Tech stocks are somehow related to Crypto tech tokens, Therefore BTC likes to correlate to other Alts, but for the longer-term BTC on itself is closer to Gold from the Store of value standpoint and medium of exchange (the lightning network has been developing rapidly recently).
The bottom line is sometimes BTC and crypto will correlate to gold and sometimes it will correlate to stocks, it's not one or the other only. The statistics are very clear that crypto is the most uncorrelated asset.
Keep in mind the global situation with Russia and Ukraine is somehow dragging the US stock market that was already long overdue to pop bubble sooner than later.
The situation with Canadian truckers only confirmed that storing BTC and any crypto on custodian exchange is a bad idea and breaks the purpose of decentralization, do keep your crypto off those central points of failure, and remember, those news are not negative for BTC and other cryptos, they are positive. Truly decentralized ledger blockchain technology cannot be stopped, govs can only block fiat on/off ramps, and even there people are getting smarter and more creative.
For the longer timeframes in my opinion any buy below 0.95 cents for ADA is a good buy, make sure not to wait too long, this thought has 5-year time horizon. Do not trade daily, it's a waste of time and money.
Tech stocks are somehow related to Crypto tech tokens, Therefore BTC likes to correlate to other Alts, but for the longer-term BTC on itself is closer to Gold from the Store of value standpoint and medium of exchange (the lightning network has been developing rapidly recently).
The bottom line is sometimes BTC and crypto will correlate to gold and sometimes it will correlate to stocks, it's not one or the other only. The statistics are very clear that crypto is the most uncorrelated asset.
Keep in mind the global situation with Russia and Ukraine is somehow dragging the US stock market that was already long overdue to pop bubble sooner than later.
The situation with Canadian truckers only confirmed that storing BTC and any crypto on custodian exchange is a bad idea and breaks the purpose of decentralization, do keep your crypto off those central points of failure, and remember, those news are not negative for BTC and other cryptos, they are positive. Truly decentralized ledger blockchain technology cannot be stopped, govs can only block fiat on/off ramps, and even there people are getting smarter and more creative.
For the longer timeframes in my opinion any buy below 0.95 cents for ADA is a good buy, make sure not to wait too long, this thought has 5-year time horizon. Do not trade daily, it's a waste of time and money.
Note
Russia invaded Ukraine at around 5 AM UTC+1 Paris Time on 24.02.2022, very sad times indeed....76 pocket reached, expecting further downside for ADA (-18.1%) short term until there is more clarity on the conflict, Cardano gets hit harder than BTC (-9.7%) and ETH (-13.2%) which is expected, a sign of future opportunity when the market turns around (smaller market cap).
Note
Perfect bounce from Fib levels.
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