There is every indication that the crypto bear run could be coming to an end. That’s because, the market is no longer reacting adversely to negative news. For instance, it recently emerged that the much-awaited Bitcoin (BTC) ETF may not be happening, at least not in the foreseeable future. However, unlike in the past when such news would be met with heavy selloffs, the market didn’t move much after this news. This could be an indicator that the weak hands have fully exited the market.
On top of that, the increased negative news in the market, with influential personalities calling for under $2k Bitcoin (BTC) hasn’t affected the market adversely. Even this week’s dump is just a minor bleep, when compared to the selloffs that this market has seen in the past. In the event that the market has hit the bottom, or is very close to it, then altcoins could offer a great opportunity to go long in 2019, and all the way into 2020. That’s because, in the past, when Bitcoin (BTC) mooned, altcoins gained by an even bigger margin.
One altcoin that looks set to outperform the market under such condition is Cardano (ADA). Cardano (ADA) has a number of positive news coming up that could see its value rise significantly in a bull market. For starters, there is the upcoming Shelley release. The Shelley release is expected to happen this quarter and will put Cardano on a path to decentralization. This will drive demand as people move to stake Cardano (ADA). Staking is an important aspect to Cardano (ADA) and in a bull market, could easily see this crypto hit new highs.
On top of that, a decentralized Cardano (ADA) could draw in more exchanges to list Cardano (ADA). For instance, Coinbase announced last year that Cardano (ADA) is one of the cryptos that they will be listing next. If they list it after Shelley, Cardano could gain traction quite fast, and easily outperform the rest of the market. That’s because, more people would have easy access to Cardano, and would be demanding it for the passive income that comes with staking it.
Cardano (ADA) made it to over $1 when it was still a young project without most of the progress it has made so far. With all the achievements it has made in the past year, it could easily outperform the market this year. Cardano (ADA)’s future is bright.