I’m Irvin Welsh from ICOguru and today we will talk about the current state of crypto markets.
Cryptomarkets are deeply in red, ethereum lost around a half of its price for just three months of the year! Everyone is tired of this bearish trend and waiting for a hilarious comeback. Not sure about hilarious, but comeback will be for sure.
When you are thinking about those losses gained in that period, try to take a fresh breath and look at it from the other point of view. Remember, that after sunset comes the sunrise and the same rule working in the crypto markets or stock exchange markets. After bears, bulls come in every time.
There is an approach for a day trading to make profits on scalping, but at ICOguru, we love strategic approach and long-term investments. We will talk about crypto assets to buy now when they are in the red zone and those who are really valuable and will gain a lot of profits for you.
Let’s have a closer look at Cardano project. They are operating a cryptocurrency called ADA and use an academic approach in the development process of their project. Cardano is an entirely open source project and all work made on it is a result of the worldwide collaboration. As you know, to mine bitcoins and achieve the network consensus – PoW (Proof-of-Work) is using, but it costs a lot of money to manage increasing amounts of computational power, required to win in the “miner’s election”, that is why other projects are looking for an alternative protocol suitable for achievement the network consensus. In the result, Cardano team has developed their own PoS (Proof-of-Stake) protocol, helping people participating in the network do not have the dependency on the computational power.
Why do we think that now is the best moment to buy some ADA coins?
Cardano is already a well-established cryptocurrency (in top-10 at coinmarketcap) with the very strong team and abilities. The nature of the project is academic, as I have mentioned above, so their roadmap is dramatically detailed. Having clear enough roadmap, we can detect the best intro and outro points. Let’s look at the Cardano’s roadmap:
Their roadmap is curious and shows each step which needs to be passed before the final release of the product. A lot of things has been done already and still, they have a lot to do. Cardano team is doing updates on the monthly basis and the following update of the roadmap is going to occur in 20 days from the post time. We assume that after the next update, the following steps will be completed:
- Exchange Enhancements. It is a backend update which will include revision of the current API code and add new features to it. This update will help exchanges which had listed ADA cryptocurrency to process deposits, withdrawals and all deals faster and with less power. Binance and Bittrex are working closely with Cardano Foundation to implement these enhancements.
- Log Submission Mechanism. This update is for the users. Every Time when you are dealing with software, you will find out small issues that must be fixed for the proper functionality of the system and log submission system will provide this ability for you.
As you can see, there are two updates which should be completed in the next revision of the Cardano roadmap. Because of this fact, we expect a little bit increase in the price of ADA, so we’re going to add around 500 ADA coins to the portfolio we have. Increase in price should not be fantastic, because of the nature of these updates and our main goal, for now, is to buy ADA at the lowest point. The biggest update which can cause really huge price rally is expected in 4 months, so we’re going to hold it for as minimum as 4 months.
At that time it should a bunch of updates at one time and a lot of additional features will be implemented in Cardano ecosystem. All of you know how news and FUD are influential on cryptocurrencies and surely, a large update of the project from TOP-10 could not be missed by the public.
Another reason, why we are thinking that ADA price will increase – is plans for future of the Cardano Foundation. Their technology already has different implementations in the business area and even banking. The project is going to sign partners agreement with Mastercard and soon Cardano will become the first project (from TOP-10) with the ability to spend your crypto alongside with your cash.
At this point, we will stop and give a chance to evaluate this project by yourself to decide whether to invest in ADA or not. When you will look for the information about the project, check their official (IOHK channel) youtube and you will see a lot of interesting technical details.
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