Nov 12, 2020
How Cardano is Primed for Steady Growth
Cardano for many years has been the Tortoise in the race against the Hare. It’s only since the release of Shelley that Cardano’s price has started to pick up steam and here’s why I think the latest announcement of Goguen will bring about an even greater price increase in Cardano as the project is fulfilled.
Cardano’s Recent Price Action
There’s been some growing frustrations within the Cardano community with regards to it’s price over the last couple of months. It’s slow decent from £0.11 has increased doubts yet most Cardano Hodlers are used to this.
Cardano’s technology has always been severely undervalued. The project has been criticised as theoretical and a scam but you only have to do 30 minutes of research to know the project has its intention’s, philosophies and technology all striving towards world changing goals.
Why I predict Cardano is set for Steady Price Growth
Since the launch of Shelley, 100’s of nodes have come to form a raging and passionate community who see the value in the decentralised technology being built by Charles Hoskinson, the IOHK team and many more smart minds alike. The project seems to seamlessly transition from brilliant ideas to integrated branches that have now come to form the multidimensional network that we know as Cardano.
On the topic of decentralisation, today marks a milestone for Cardano with the majority of all blocks being produced by the community through stake pool operators. Although this might not directly affect the price of ada, it’s only adding fuel to the flame that slowly grows larger.
Previously, price volatility was an issue with the coin as leading up to the launch of Shelley, people seemed to buy the rumour and sell the news. Most projects that involve hard forks or big events that form milestones follow this ‘pump and dump’ period. Goguen it seems will be different and here’s why.
Goguen should Decrease Downwards Volatility
Goguen will not be a one off event like some may have assumed. Instead it will be implemented slowly over the next 2 quarters. IOHK wrote, ‘we’ll be rolling this out in 2-week sprints, locking in dates as we advance’. This soft fork as such, contrasts the pump and dump nature of the Shelley phase. This time round, instead of drawing in short term traders, it’s likely Cardano will gain more exposure from long term investors seeking an opportunity to acquire more $ADA. It must be noted it’s not guaranteed that the price of Cardano will steadily increase during the roll out of Goguen. No one can predict when the price of each phase will be correctly factored in and it’s always responsible to do your own research.
Shelley was a big step forward in proving that a strong foundation will go a long way in building something secure and valuable. Now with Goguen very much in the pipeline, it’s hard not to be extremely bullish. You only have to look at Etheruem and the problems they’ve experienced to see that Cardano has gone about the right way of doing things. Have faith in the process and remember that slow and steady (especially with regards to finance and monetary policy) will ALWAYS win the race.
