Trend Rider, an analyst on X (Twitter) recently posted a thread which led to a heated debate about the fate of what appears to be a dead digital asset – Cardano ($ADA). According to the analyst, ADA is a “dead coin” with no growth. However, such claims can be quickly debunked when we look deeper into the history of Cardano.
Cardano has not had just one but two amazing bull runs with each increasing in value by 100 times respectively as opposed to what Trend Rider had said. Furthermore, for the first time ever Cardano has achieved sustainable ecosystems unlike in previous cycles thereby setting it up to make even more gains going forward.
First bull run was constant for 54 days of going nowhere, and then it took off for 42 days when ADA went up by 100x. After this bullish period, there was an extremely long bear market that lasted for 800 days with the COVID-19 pandemic compounding the situation.
During the second bull run, which followed the cycle’s pattern, there were 200 flatlining days before another rise of between 150 and 240 days that resulted in value multiplying by a century again. The remarkable achievement was succeeded by yet another protracted bearish trend lasting 770 days.
Cardano: Signs of Life Amidst Sideways Action
Currently, indicators of bullish upward momentum are already coming out as Cardano prepares for its third bull run within the ongoing cycle. Despite 45 days of sideways action, early indicators suggest that the tides are turning green, signalling the potential for further increases over the next few months.
However, Cardano’s movements can be equally slow as they can be explosive as well. For long-term thinking investors like them, patience becomes a necessity. The questions on how long will it take to wait, profit-taking levels, and risk management strategies need to be answered and implemented carefully.
Ultimately, Cardano’s future rests with investors who have the foresight to ride out the storm and seize its undeniable potential. Others might label it as a “dead coin,” but history paints a different picture – one of strength, expansion and unexplored opportunities.
Although the bullish movements of $ADA are explosive, these are often contrasted by slow growth and consolidation periods. This is its unique path that calls on investors for wealth accumulation through a steady strategy.
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