May 07, 2021
1 mins read
It is up over 3000% in the year, but it is still undervalued.
In my stock investing days, I had learned that every stock should be labeled in a certain classification. And, it should be the same for cryptocurrency.
Dogecoin, for example, should be categorized as SPECULATIVE because its price movements have been dependent on solely 2 men, Elon Musk and Mark Cuban. It hasn't had any great updates for awhile and it doesn't have an active team working on bettering the technology.
Safemoon would have to be "ON THE WORKS" category, as it it relatively new, but has an active team constantly working on the technology.
Bitcoin is "THE GOLD STANDARD". ln fact, people call it digital gold.
If bitcoin can be called digital gold, then Ethereum would have to be Digital Silver. Like silver, it has more utility than gold. Ethereum's use in the NFT market is proof to that.
Then, there is the "UNDERVALUED" category.
Cardano has a team constantly working on the technology and is not mysterious like many companies. Its founder, Charles Hoskinson, has a huge social media presence. Cardano is already making a difference in the educational sector in a country like Ethiopia. Of all blockchain companies, they picked Cardano to lead the way, thus establishing the trust check and proves utility. Mainly, you must know if something is trustworthy. Well, an entire country trusts Cardano.
Cardano is way undervalued by at least 25 folds.
I gradually gain my position on ADA, slowly but surely.
This post is for entertainment purposes only and solely my opinions. I am not a financial advisor. It should not be mistaken for financial advise. I am solely a former stock investor who decided to take on crypto investing in order to satisfy my hunger for technical analyses. And, in crypto, you do that often.