Dollar Destruction

Cardano showing the Crypto game why it’s an Investor Friendly Coin, with good growth over April.

Cardano (ADA) is not immune to market changes. It did fall with the rest of the market and erased most of its gain made in late December of 2017.

However with over a 20% increase in price today (12/04/18) and growth throughout April 2018, it has shown why it is still one of the most investor friendly cryptocurrencies in the market.

Here are a few reasons why investors have confidence with this particular crypto currency:

The team behind Cardano is more interested in providing solutions that investors require than any other project in the market. Previously, Cardano decided to focus more on ADA/USD pairs instead of ADA/BTC pairs because that is what most investors wanted. No other crypto project has been seen to have made such accommodations to please its investors.

More interestingly, Cardano has recently announced an update to paper wallets. This is an interesting development which goes on to show how much the team behind Cardano cares about its investors and their safety. Paper wallets can be considered the safest option of a cold storage by far. You can lock the paper in any sort of security installation of your choice without having to worry about some unknown security breach from a firmware update or backdoor in your wallet left by the manufacturer. These concerns surfaced when just recently the Ledger wallet was hacked by a 15 year old kid from the United Kingdom. He also posted a video on Youtube demonstrating how he actually hacks the device.

As you can see from the chart above. It looks to have broken its wedge/flag, that is usually an indication that the Bear ride has hit support.
The 200 Estimated Mean Average has also been broken and showing support, it is now challenging a Resistance point and looks to of broken it for a while, then corrected for another re-test.
The further upward movement is backed up with a rise in the RSI, just as the wedge/flag has broken.

Big crypto funds like BKCM LLC run by Brian Kelly (See pic) are extremely bullish on Cardano. Most are considering increasing their stakes as the markets move towards recovery. The recent movements in the market vindicate earlier made speculations about an explosive Q2. This would push Cardano far beyond $1 considering Bitcoin reaches targets of $70,000 or higher by the end of this year. Cardano is currently at 7th place in terms of marketcap but if problems with Ethereum do not settle soon or if Ethereum gets embroiled in legal battles over ICOs, then Cardano looks more likely to take its place.

 

 


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Author: Fakhan
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