$ADA Won't Make You Rich 👎🏼
Despite being in the top 10 coins in terms of market cap Cardano is not going to do what it did alongside Solana & Ethereum in the previous bull run and even during this bull run while both are nearing their previous highs and aiming for a new ATH soon, Ada lacks positive sentiments.
Early adopters of ETH & Sol became filthy rich or had massive gains. Even in this cycle those who bought them at lows are sitting at substantial profits.
I'm not saying that investors didn't benefit from Ada, the previous cycle saw many traders unlocking big profits from it. But the growth has certainly been dented after hitting the rock bottom of $0.22 in the first week of June,2023.
Since then it hasn't shown that strength and with better projects making their space in this arena Ada is losing the limelight it once had. Moreover, the point raised by crypto analyst Justin Bons about "Ada becoming extremely centralised" and Grayscale dropping it from its portfolio has raised some serious concerns about its future.
Even if it does a 10X from here I don't consider it as a long term hold. Especially with those rising concerns, absolutely not. Just going to unload my bag when I get some good profits and I'm done with this.
*This is not investment advice. Please do your own research.
This is my personal opinion from my past experiences. Lend your support by hitting the like & share button and follow me for more such advice. Although I've never asked before, you can also tip me to reward for the hard work going in to bring such content.
Happy Investing 😄 🎉
#ADABullish #MtGox #EarnFreeCrypto2024 #altcoins #BinanceLaunchpool