Future of Cardano: Is ADA Still Profitable

[Mika]

Even though Cardano has gained value slightly, two days ago ADA went as low as 36 cents. That was the lowest value of ADA in a long time, in fact, the lowest value since 2018. Now, the investors have taken a sigh of relief because the value did not go below 36 cents, instead, regained slightly. People were already questioning where is the rock bottom for ADA.

The price of Cardano moves alongside Bitcoin, when Bitcoin gains value ADA will also gain value, likewise, when Bitcoin loses value, ADA will also lose value. Since Bitcoin went below $27K, Cardano also rock-bottomed at 36 cents, when bitcoin gained slight value, Cardano also gained value.

If you are holding ADA, you should not worry about the current bearish market as Cardano has a huge potential. It is still in the development process and the project is funding its development through token sales, that’s why the price did not move up even long before this bearish run.

 

[Jasmine]

I think holding Cardan is better than panic selling. If you bought ADA for $1 and if you are worried that it might become worthless like Terra Luna and start selling at 50 cents each, you will make substantial loss by selling (provided you have bought a lot of ADA in the past). However, if you hold ADA, you might be able to make profits in the future. It will be difficult to say, when the price will improve and when you will start receiving profits, but if you believe in long term investment, you need to continue holding. You can also stake your ADA to earn profits when the market is down. There are a lot of platforms where you can stake ADA but in my experience, Binance is the best, you will earn rewards every day and you can stake between 30 days and 120 days. ADA is not a meme coin, it does not have unlimited supply, it uses the same proof of stake that bitcoin uses. Therefore, the price of ADA moves according to Bitcoin. This is also one of the tip 10 coins by market cap. I don't think anyone should worry about the price drop.

 

[Yugocean]

I am HODLing ADA, but that was wrong time, I invested just one day before the market crash, just good thing was I did not choose LUNA, there was might be a reason why I choose ADA instead, but yet I wasted stablecoins on risky cryptos including ADA, now only HODL is left.