Do not FUD, it is too early to say that this is anything more than a healthy correction.
As usual with huge run ups, we have a correction. The higher the run up the more dramatic the sell off. Now why is this happening today?
- The 2018 Road Map was released today, so the traders started selling off their gains from the run up https://cardanoroadmap.com/.
- There is some Fear, Uncertainty and Doubt (FUD), spreading because of Bittrex taking 4 days to complete wallet maintenance on Cardano (ADA), just as it hits ATHs. https://www.reddit.com/r/cardano/comments/7n8uug/bittrex_wallet_disabled_performing_routine/.
- Some people are still unhappy with some glitches in the Daedalus Wallet, even though they have already fixed several bugs and are working diligently https://www.cardanohub.org/en/the-daedalus-wallet/.
With all of this I believe it took what would have been a 30-30% correction and made it into a 50-55% dip. In my opinion, the dip will continue and once Bittrex releases the ADA wallet from maintenance, it will dip more.
Well now that is the bad news, but the good news is some local businesses are adopting Cardano https://twitter.com/cardanostiftung?lang=en.
Final thoughts, if you believe in Cardano the way I do, you will just HODL and maybe add on the dip. I am not a financial advisor, this is all just in my opinion.
UPDATE!
As you can see we are now recovering from the correction, as I said we would.
@OriginalWorks
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The @OriginalWorks bot has determined this post by @embomb701 to be original material and upvoted it!
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nice work :) @embomb701
visit us too
https://steemit.com/health/@thomasjug/be-careful-this-is-what-will-happen-if-you-ignore-it
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Thanks, will do.
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This post has received a 0.37 % upvote from @booster thanks to: @embomb701.
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Know of any alternatives to Cardano?
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I am still positive on Cardano, just the hype train has died for the moment it will return. But yes another gen 3 coin is Aion.
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Thanks. Check out Tezos.
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Will do, thanks for the heads up. Oyster Pearl! Its only on Cryptopia and already making crazy gains, imagine when it hits Bittrex or binance.
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