FUD in action, yet ADA holding strong. Moonshot imminent?
Updated
Anti-Cardano FUD has been on the rise lately. With chimps having nothing else to do but regret not buying early are now in full action. That being said, the latest 5min red candle dumping 10% is no big worry in my opinion. Massive red candles with unrealistic lower wicks are usually formed by the 'cascading forced liquidation effect caused by aggressive day traders with too high margins and exposure to the market. Anything beyond 10-20x is detrimental to the stability of the market. However, there's always a silver shining to such scenarios.
1) Aggresive dumping like this is necessary for a healthy market as it gets rid of all the volume coming from shivering hands that contribute to the instability of the market.
2) More diamond hands end up 'buying the dip'. This time, perfectly.
Here are my thoughts on what could possibly happen-
There's no doubt that we are in a bull run. That being said, a solid project like ADA has the foundation of resisting all the FUD and continues to grow the way it has been. Coming to the part of smart contracts going live on the 12th of September 2021, I believe we are in for a massive bull run taking ADA up to possible $10 or even higher IF AND ONLY IF a lot of volume pours in the market as FOMO after the $10 mark.
This is in no way financial advice, however, I believe that ADA is still bullish and holding strong against all the FUD.
1) Aggresive dumping like this is necessary for a healthy market as it gets rid of all the volume coming from shivering hands that contribute to the instability of the market.
2) More diamond hands end up 'buying the dip'. This time, perfectly.
Here are my thoughts on what could possibly happen-
There's no doubt that we are in a bull run. That being said, a solid project like ADA has the foundation of resisting all the FUD and continues to grow the way it has been. Coming to the part of smart contracts going live on the 12th of September 2021, I believe we are in for a massive bull run taking ADA up to possible $10 or even higher IF AND ONLY IF a lot of volume pours in the market as FOMO after the $10 mark.
This is in no way financial advice, however, I believe that ADA is still bullish and holding strong against all the FUD.
Note
And I hope Bogdanoff pumps it.
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