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BTC charts looking quite weak to me. See a drop to monthly support (around 23k) coming. ADA has a lot going for it, but see it being pulled down by wider sentiment
Let's hope I'm wrong. Was correct on BTC and ETH last time, but hadn't expected the drop to pull down ADA so hard along with them... lesson learnt
Won't sell anything, but if this does drop to a dollar or less again, will definitely be adding in whatever change I can find. See this all as a temporary set back within otherwise bullish backdrop. Sucks when it happens though
Hi folks. Haven't been on here for a couple of weeks because platform was continuously down for a while there. Seems to be working today which is pleasant surprise
@Mitchell, think the extent of the drop surprised us all. I saw the retracement back to $2s because the 4hrly chart of well overbought and all indicators were pointing to a consolidation. However, the wider crypto market + bitcoin selloff put the sell off on steroids and I think this even hit close to a $1 for a moment. A bit of a joke really. Heard that Charles was pretty ticked off by it all. Went on a bit of a rant about how market disregards all progress and development and follows bitcoin + twittersphere over fundamentals. One day ADA will decouple from the market - but not likely until next updates are complete. So another few months at least I recon. Decided to buy another couple of grands worth this week. Wasn't intentional - just couldn't resist it
@Cooper, trust that things are going well with you
Hey Cooper, yeh, actually have a side business already and doing that. Great minds think alike. But yeh, thinking for myself stepping back in the not too distant future
Hm, hadn't made that distinction before. That's worth looking into a bit more closely perhaps
Main reason why I don't trade crypto is cause the gas fees are so high. The pull back from $2.5 was fairly predictable, but this is getting stung more than anticipated. I guess it's just being a victim of wider market movement. Very few cryptos haven't lost 20% or more in the past week. Worse coming I think.... but it'll cost a couple of grand just to sell things off which is ridiculous. I'll be very happy once transaction fees settle into something reasonable. Come on Cardano! :D
Hey Cooper, actually got a similar plan for my ADA + other crypto holdings once the time comes to sell. Put the Mrs on as a Director and you can make around 30k per annum (between the two of you + divis) with very minimal NI / taxes. You can also charge good interest to the company on the loan value. However, as that's a little far out for us just yet, I've not looked into the impact that capital structure may have on ability to buy. Ideally there wouldn't be need for mortgage, but if the company was "on paper" indebted to you, might it impact a cash purchase? I genuinely haven't researched into that question yet
Personally, I'm thinking of staying clear of Sundaeswap. The reason is because it's currently just a website but absolutely everybody is talking about it. I see the ICO being bought into very heavily and then dropping like a brick immediately after (like ICP). Agreed on Liqwid Finance. I think it'd be ideal to have a combination of plays:
(i) Central exchange converter - like Uniswap alternative
(ii) Incubator
(iii) Local African plays.... because some of them will be built for real needs and offer sustainable business models
It's potential that (i) + (ii) plays might actually be existing coins that convert over from ETH rather than entirely new projects. But let's see what happens. It will truly be exciting to see what happens over the coming 18 months
Evening Cooper. A quick look at the charts indicated a clear top just south of 2.5 and a retrace to the 2.1 which was previous low on the 4hr + 20 MA on the 4 hour (i.e. a very good floor). Wider sentiment is for BTC to drop to sub 30k (very likely on the charts) and ETH looks to me like it could head briefly towards 2.7k. Who knows for sure, it's all temporary either way. I'm expecting sideways movement here until smart contract comes closer, and then a break for $3-5
Markets are pretty skittish due to inflation concerns etc in the US causing uncertainty with FED action. Pretty obvious really. But may see some big money in crypto take profits and move into safer territory for a while. Again, who knows... I came in here with 2025 on the agenda, so happy to wait until then whatever happens. At the same time, I've a maximum hold level at which point I'll be quickly selling down the holding
Can imagine it being a difficult decision to have sold off such a large amount of your holding. Still, locking in a good profit which I image was greater than your wildest expectations only a year ago is hardly something to be sniffed at.
We were almost able to live on passive income - until we just decided to upgrade and buy a house double the size. Funny how life changes isn't it. That's taken out a fair dent out of the play money, but can't complain
Will be interested to know where you land the ADA earnings
Indeed, pleasant surprise @Mitchell
Cooper. I bought into this hoping for $3s by end of 2025. We'll probs be there within a few weeks, let alone a few months. I do keep revising my own targets north, but gradually.
It's a brilliant holding you've got there. Do think it's sensible of you to top slice a few, even if only to convert to USDT and get 15% stable return via something like YLD. Retire early
I'm now looking to hold until $10s and then just selling off the staking rewards once we get there. That'll tick us along nicely too. I know some folks are holding on for the multi-millions, but I'll just be happy with gaining financial freedom according to our current standard of living. We each have our own targets
Irony: I only got into Crypto cause I was hacked off with the manipulation in gold and silver stocks. Now wish I had got annoyed 6 months earlier. Jeeze, even a fortnight earlier would have given the average at around $0.2 rather than $0.8. Still, much better performance here than anywhere else on common markets, that's for sure
Thanks for sharing the link Cooper. 25 countries within 18 months. Wow! Transformational
I was also thinking about your other point recently. Not specific to Cardano, but the whole crypto-eco system in general. Once other coins shift over to Cardano and the transaction fees are dropped from >$100s to <$1, the accessibility for the whole industry will enter into a new level.
Gas fees are prohibitive for doing anything less that $5k on a frequent basis. The average person in 1st first developed Britain has only got a few hundred quid / couple of grand sitting about in the bank. It's not like African's are going to be massively cash rich either. ETH will never work. However, blockchain is here to stay and the world is the oyster for whichever major crypto becomes first to offer affordable access to the billions.... and as we believe, Cardano is the best bet in that
But yeh, I can see ADA even getting to $10 before end of next year. e.g. Imagine Tesla or some other group of companies come along and buy up a billion dollars. OK, that'll maybe equate to 1% of stock, but 3% of liquid stock. Of course prices will rise, and this is extremely likely in the foreseeable future.
ADA reaching $10 before end of next year is no longer a dreamers world. At the same time, the coins that act fast and transfer over to ADA once our upgrades are out will also perform extremely well... I wonder what some of them will be. 1000x's in the making for sure in some plays.
cointelegraphDOTcom/news/100m-euro-digital-bond-was-a-cbdc-test-says-banque-de-france/amp
Ok, they're using ETH for now. But the impact that this has on future of crypto is massive... central banks officially into crypto now. No way is this boom anywhere near done
Great video yesterday if anybody else watched it. Attila looks great - still runs the risk of confusion with Attila the Hun perhaps? But the ecosystem they're creating with World Mobile etc in over regions of Africa is super exciting... What's also interesting for me is that this is all in the closer mid-term than I had been thinking. 100s of millions of people joining cardano by 2025 is now obvious, whereas I had thought more of a hope / narrative beforehand.
Very impressed with the forward thinking in the Ethiopian MoE particularly. Far ahead of what we have here in the UK! Systems here are so backward in comparison.
Big updates coming before the end of this year, with steady stream of exciting developments between then and 2025. This is a long play to stick by and watch
@Boftrix, $10 not realistic in next 5 years... I'd be interested to hear your rationale
Personally, I view $10-30 predictions within the year a bit of a joke. However, the range is certainly plausible assuming roll out goes remotely according to plan. Cardano already moves more than ETH, has massive developer community queuing up for Goguen, not to mention the Africa expansion vision... If even half of that materialises, that's already well ahead of ETH. Thus I'd anticipate market cap to be reflected accordingly, meaning a minimum of $10 just to get to where ETH is today.
besides some for gas fees, I ditched my ETH a while ago cause it's a dead weight in comparison. Obv that's just my opinion and why I'm in here... thus, interested to hear the bearish case
I think that there was disappointment when the Ethiopian news didn't materialise at the end of March. I for one was disappointed, so assume others were too.
To be honest, one of my biggest problems with Crypto plays is that the CEOs + key players totally manipulate the prices. Charles isn't so bad, he just builds up too much expectation BEFORE things happen. I wish that we'd use the classic formula of under promise but over deliver. Would offer much more sustainability in the coin price and help control the volatility.
So many of the other CEOs put out tweets such as:
"What happens to TrustSwap after it acquires a crypto-focussed app on both iOS and Android with 1.5M+ users?
Find out later this month [ROCKET]"
"Top 50 this year."
etc etc If these were listed companies the founders could be sued big time for market manipulation
Anyway, rant aside, many of these plays have fantastic futures ahead, such as Cardano. This break out has been playing out as expected (usually a little froth when ceilings are cracked). Watch the rise to 1.5 and then let's break it and set that new high in time for the upcoming testnet. Who knows, I may even achieve my original 2025 target this year! Have already increased that target from $5 to $20, AND brought it forward to end of 2023. My goodness, optimism is getting dangerous
MACD crossed into positive today (assuming it closes positive also)
50 day MA has caught up, yet we remain above all of the main supports. Indicates to me that this could finally be beginning of the next stretch north... aligns with upcoming announcements etc expected for the end of the month
I noticed today on 'Coinmarketcap' that Cardano has a around 30% more followers than DOT, BNB or any of the other market cap competitors. Bitcoin's got >900k, ETH around 750k and ADA over 500k. Think there's a lot of people going to be buying in once this move is confirmed, and also noticing quite a fair bit of additional mainstream coverage about ADA - which is surprising as they're usually just ETH + BTC focused.
Comes at a good time for us
Always good to be busy.
Definitely a lot of opportunity in the NFT space. All the best with that Cooper
Jumped above the 20MA today with possible crossing of macd... bullish signal for resumption of uptrend? Let's see, I'd thought this could stagnate for another couple of weeks, but always more comfortable when it ranges at higher numbers.
Beyond Goguen's release (testnet in around 4 weeks, with launch early autumn) news releases for real-world utility such as today's news (https://forum.cardano.org/t/cardano-reveals-its-first-supply-chain-solution-in-association-with-scantrust/56519) are why we're here for the long haul.
Have been seeing a lot more media coverage of late... although who knows, that could also be manipulation of my own search history. It's difficult to tell these days!
@Mitchell, assume that you're looking at this for >6 month horizon? That's when the action is likely going to start
@Cooper, you've not been posting of late. All well with you?
Think it's a different market @mitchell. LSE obviously stands for London Stock Exchange, and its consumer base is very much that... People investing in stocks, most of whome will never have heard of Cardano
Crypto has wider appeal to a different type of holder, particularly younger generations, non conventional investors and more tech literate. Think discussions around crypto plays tend to be on Telegram, Twitter and other platforms.
Tbh, I don't want the crowds here. Can rarely read anything of meaning when there are hundreds of overly optimistic posters blurting out pointless one liners about mooning, rockets or whatever.
ETH gas fees are getting insane these days. Just paid over $150s in gas fee for a simple swap
And folks say that there's not a problem!?
Remember seeing IOHK post a stat somewhere about ADA shifting something like $14bn for a few thousand dollars in fees, whereas a similar amount in ETH cost multiple millions. The market has got to mature, that's for sure
Africa deal unexpectedly had to be signed off by a special committee. That committee finally signed off on the project March 25th. They need one more signature by the minister, and they will be ready to officially announce it.
Copied from a Tweet, but saw Charles essentially post this in a video today. Same video, he also mentioned about bringing payments and other things to the region throughout 2022. Game changer in action
Beginning to think that FD7 is right... $20 by close 2023 is looking increasingly possible should these things start rolling out
This is list of markets you can buy ERG from @abilitygroup: coinmarketcap.com/currencies/ergo/markets/ not on Binance yet. Would likely multiply quickly if there was news of a listing though
I have to admit that I took a quick look into ERG the other week, but didn't really look further. Have been focusing on areas that I'm more comfortable with... Maybe you've encouraged me to look a little deeper over the weekend. And you know what that means, if I decide to buy a few grand worth, coin price will rocket up the night before! lol
Yes, I'm very interest in Liqwid too. Planned for Q3 if I remember right
See Bitcoin possibly heading towards support around $40,000s.... might be a rocky few days for a few of our other alt coin holdings like ADA that could get caught up in the sell-off
Would love to be wrong. Either way, diamond hands :)
Thanks for referring to the video. I wasn't aware that ADA already moves as much (if not more) value than ETH. It was quite a rant. "Dumpster fire ETH", "Ponzi scheme", "should be illegal", "have some patience" etc
He thinks people will be "very happy" with the upcoming Cardano 360 event. Let's hope so
Have you ever looked into Trustswap? One of their services is to audit start-up crypto projects and then launch their ICOs with guaranteed access for anyone staking 4000+ SWAP. I saw a stat somewhere that if an invester partook in the offerings provided, they'd of been able to convert their original $19k investment into over $500k in under 6 months. Perhaps best launches are behind us (like Chain's 100x since Sep 20), but it's worth looking into and then selectively getting involved in future launches. With SWAP gaining other traction of late, I've also picked it up as an investment in and of itself.
Small MCs (sub 50 mill) have massive potential to move if they are genuinely delivering utility. However, finding those gems are a challenge. SWAP helps via auditing and letting us in early...that's where I ended up shoving my recent earnings
Not budging from ADA any time soon. Maintains my largest crypto holding, but have noticed other investments very quickly catching up. It's a great time to be invested in this space