Ignacio Kolari
𝗕𝗲𝗹𝗶𝗲𝘃𝗲𝗿 𝗼𝗳 𝐚 𝐟𝐮𝐭𝐮𝐫𝐞 𝗔𝗹𝘁𝗰𝗼𝗶𝗻 𝗦𝗲𝗮𝘀𝗼𝗻? 𝗧𝗮𝗸𝗲 𝗖𝗮𝗿𝗱𝗮𝗻𝗼 𝗶𝗻𝘁𝗼 𝗰𝗼𝗻𝘀𝗶𝗱𝗲𝗿𝗮𝘁𝗶𝗼𝗻... This young cryptocurrency has lured many cryptocurrency investors due to its astonishing surges. Since the start of November until today, Cardano has increased by more than 300%. Among with Ethereum and Stellar, Cardano has outperformed Bitcoin in the last month, in the last 90 days, and in the last year! Ultimately, Cardano has the biggest YTD (year to date) gain of all the cryptocurrencies offered in eToro! All these stats are as of me writing this post. Are you a believer of the altcoin season? This belief is centered that alternative cryptocurrencies to bitcoin will outperform Bitcoin in the near future. If you are interested in altcoins, continue reading this post focused on Cardano. 𝗖𝗮𝗿𝗱𝗮𝗻𝗼'𝘀 𝗯𝗿𝗶𝗲𝗳 𝗵𝗶𝘀𝘁𝗼𝗿𝘆: The master mind behind Cardano’s launch is Charles Hoskinson, very well known for being the co-founder of Ethereum. Due to controversial disputes over Ethereum’s future, Hoskinson co-founded IOHK, an engineering blockchain firm. IOHK, with the help of the Cardano Foundation and Emurgo, started the developmental stages of a new cryptocurrency in 2015. The blockchain platform was named “Cardano” while the tradable cryptocurrency was called “Ada”. In 2017, Cardano had its debut; more than 8 years after the launch of Bitcoin. Being such a young cryptocurrency, it is commonly referred as a third-generation cryptocurrency. Cardano’s academic creators and developers believe that it can solve current problems within the Crypto market: “the slow and inflexible mining process of Bitcoin” and that “Ethereum is not safe or scalable”. Cardano debatably poses as a safer blockchain with more scalability. Just as technology significantly improves over time, can the same happen with cryptocurrencies? 𝗔𝗿𝗲 𝘄𝗲 𝗰𝘂𝗿𝗿𝗲𝗻𝘁𝗹𝘆 𝗶𝗻 𝗮𝗻 𝗔𝗹𝘁𝗰𝗼𝗶𝗻 𝗦𝗲𝗮𝘀𝗼𝗻? The answer is: No. According to Blockchain Center an Altcoin Season occurs if “75% of the Top 50 cryptocurrencies performed better than Bitcoin over the last season (90 days)”. With this index, above a 75 refers to an Altcoin Season and below a 25 refers to a Bitcoin Season. The market currently has a 35 level, yet it is important to mention that there is a significant upward trend. For more information about this index check out below the link attached to Blockchain Center. 𝗪𝗵𝘆 𝗖𝗮𝗿𝗱𝗮𝗻𝗼 𝗶𝘀 𝗮𝗻 𝗮𝗽𝗽𝗲𝗮𝗹𝗶𝗻𝗴 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁: • If you are an Altcoin Season believer, I think taking Cardano into consideration should be a must. Given its innovation and past performance. • A possible crypto out performer. Due to Cardano’s current volatility and small market capitalization, it definitely has big potential in gains. • Diversification. If you are a cryptocurrency investor, increasing your exposure to other cryptocurrencies allows for a less risky portfolio. • Staking rewards. Cardano and Tron are the only two cryptocurrencies with staking rewards available on eToro. For more information about this find below the link attached to staking rewards. 𝗦𝗼𝗺𝗲 𝗰𝗼𝘂𝗻𝘁𝗲𝗿𝗮𝗿𝗴𝘂𝗺𝗲𝗻𝘁𝘀 (𝘄𝗵𝗮𝘁 𝘁𝗼 𝘄𝗮𝘁𝗰𝗵 𝗼𝘂𝘁 𝗳𝗼𝗿): • There are less riskier investments for Altcoin Season believers. Other altcoins such as Ethereum and Litecoin have less volatility, and even less riskier investments are crypto crosses (For example: ETHBTC and BTCXLM) • News on possible stricter regulations. Young and small cryptocurrencies are definitely more vulnerable to stricter regulations which increases the overall risk. • The ATH psychological barrier. When any asset enters all time high territory the emergence of bears is well correlated. 𝗜𝗻 𝗰𝗼𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻, Cardano is a high risk/high reward investment, which could possibly outperform other cryptocurrencies in 2021. Given an Altcoin Season, Cardano could definitely be one to shine! I want your opinion, what is your opinion on Cardano? And what do you think will happen if it reaches its all-time high in a couple of days/weeks? Leave your opinion in the comments below! -------------------------------------------------------------------------------------------- 𝗙𝘂𝗿𝘁𝗵𝗲𝗿 𝗿𝗲𝗮𝗱𝗶𝗻𝗴𝘀: Cardano’s web page: cardano.org/ Altcoin Season index: www.blockchaincenter.net/altcoin-season-index/ An interesting article of a possible Altcoin Season: www.fxempire.com/forecasts/article/readying-for-altcoin-season-will-small-cap-coins-rally-in-2021-692587 𝗦𝘁𝗮𝗸𝗶𝗻𝗴 𝗿𝗲𝘄𝗮𝗿𝗱𝘀 𝗼𝗻 𝗲𝗧𝗼𝗿𝗼: www.etoro.com/crypto/staking/ -------------------------------------------------------------------------------------------- 𝗜 𝗵𝗼𝗽𝗲 𝘆𝗼𝘂 𝗲𝗻𝗷𝗼𝘆𝗲𝗱 𝘁𝗵𝗶𝘀 𝗿𝗲𝗮𝗱𝗶𝗻𝗴! 𝗜𝗳 𝘆𝗼𝘂 𝗵𝗮𝘃𝗲 𝗮𝗻𝘆 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝗼𝗿 𝗰𝗼𝗻𝗰𝗲𝗿𝗻𝘀 𝗱𝗼 𝗻𝗼𝘁 𝗵𝗲𝘀𝗶𝘁𝗮𝘁𝗲 𝘁𝗼 𝗹𝗲𝗮𝘃𝗲 𝘁𝗵𝗲𝗺 𝗶𝗻 𝘁𝗵𝗲 𝗰𝗼𝗺𝗺𝗲𝗻𝘁𝘀 𝗯𝗲𝗹𝗼𝘄! Best regards, Nacho $ADA $BTC $ETHEREUM $XRP $LTC
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