Cardano (ADA) Trade on Bittrex
Early price discovery is revealing several key levels as outlined on the chart below. At current BTC prices, 55 SAT is the approximate equivalent of the average ICO price, 275 SAT a 5x, 550 SAT represents a rough 10x over the average ICO price, etc. For something as good as Cardano, a 10x for those early investors is entirely appropriate, but if someone wants to sell to you for less, you’re not going to argue with them, are you?
Cardano (ADA) is a IOHK product and perhaps summarized best by the following from Why we are building Cardano
Cardano has been a marathon project involving feedback from hundreds of the brightest minds inside and outside of the cryptocurrency industry. It involves tireless iteration, the active use of peer review, and shameless theft of great ideas when uncovered.
You can learn more at the Cardano Foundation website as well as at Cardano Hub where you can also download your ADA wallet.
@cryptographic I saw cardano on the top 20 today and was wondering about it. How did it do to be there so fast? Do you think it is a good time to buy now? Thanks for sharing. Just upvoted. @gold84
Top 20 is right. Even though the price is low, the float is huge, and that means the market cap it huge too, again, even at a low price. Imagine how easy it would be to enter the top 10, or even top 5. I think there's a good chance that people will realize early on the real value this crypto has and it won't be long.
Whether to buy or not? Well, that depends on your risk tolerance and whether you're looking for a good entry on an investment or a trade (in which case your trading skills come into play as well), and, of course, suitability. Everything trading related at the moment is related to ICO price and theoretical values to the upside and time. The investment picture is more involved as it takes into consideration the fundamentals, in this case being the technology, the people, real use cases, and long term projections. I got lucky (in the first 15 minutes of trading) and started nimbling under 500 SAT with stink bids in well below. Someone sold into the buy stack down to 202 and I got filled, not at 202 (never dreamt it would go so low), and I ended up with an average price of 359 SAT, and I'm happy. But this is very long term for me, as in years.
Chart below with key levels as I see it.
@cryptographic thank you again for you insights! I thought you would be interested in checking the last article I mentioned you: https://steemit.com/steem/@gold84/how-to-find-cryptocurrency-assets-that-will-succeed-before-they-are-popular . In the part of a good team foundation. Looking forward to your thoughts on the post. @gold84
Best post analysis in trading. Thank you for giving valuable information @cryptographic
Followed/ Upvoted/ Resteemed
Great analysis . Here is my upvote
That seems a quite a bit of analysis and indeed helpful buddy
will help me in some of them
That's pretty cool to know thanks for the tips by the way :)