It’s rather difficult to believe that Cardano was trading above $3 last year and is currently trading at approximately $0.53 at the time of writing. I have gone on record stating that ADA was way overpriced above $3 and that I simply did not see fair value. I was somewhat interested at $0.80 but said I was waiting for the sub $0.60 level. Well, the moment has arrived but there is a problem. Simply put, I believe markets will edge lower and that this bear market still has some way to go. That being said, I always look to have multiple strategic plays at work. This has encouraged me to consider a “plan” for Cardano. Regular readers will know that I set up a passive mechanism solely dedicated to the accumulation of Solana. These smaller mechanisms are great for continued dollar-cost averaging, regardless of the market.
The Birth Of My Cardano Mechanism
I have been playing with a few ideas to create a similar solution for Cardano. It is important to note that I am not utilizing my existing portfolio to attain these coins. This is freshly generated income from passive models. As I have mentioned I am keeping a lot in USD in order to fund trading accounts. I am looking to load up on a deep bottom, that’s if we get one! My decision to incorporate Cardano into my passive accumulation mechanisms is evidence that despite my conviction, I simultaneously prepare for potential outcomes outside of my expectations. The weight of my portfolio is obviously waiting on the materialization of my predicted outcome.
Patience Has Been Key
It’s always easy in hindsight, isn’t it? It has however been rather difficult to resist ADA at what others may have considered “a good deal”. I have been quietly watching from a distance and am now ready to begin slowly accumulating. Once again, Cardano is a staking coin, which yet again creates even more passive income. I am considering sending these small amounts to Celcius though, as the price of CEL is really attractive at these levels. In a recent article, I unpacked exactly why I believe earning interest with Celsius at the moment is potentially a good move. This is provided you opt to receive interest rewards in the native token, CEL.
The Next Six Months
Opportunities will begin presenting themselves in the upcoming months. How long you decide to wait and how heavy you decide to move is entirely up to you. For me, I believe the market is headed significantly lower, especially for alts. That is why accumulation at this point is only being funded by passive income. My portfolio is waiting for much lower levels. Read my latest article, “How I see This Bear Market Playing Out – Key Levels To Watch”.
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This article was first published on Sapphire Crypto.
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