The crypto markets at the start of 2022 continue to be volatile and this downward trend has seen the entire crypto market cap wiped to below 2 trillion dollars. What direction will cryptocurrencies take this year? Wagner Saucedo, entrepreneur and successful investor mentions that there is currently only 1.3 million Bitcoin left circulating on crypto exchanges according to a new Cryptorank analysis, with 6.3% of total Bitcoin supply left on exchange wallets. Wagner continues that the best time to accumulate is when there is fear and pain in the market. Watch how the Whales go about their business to see that principle in action.
In this article Wagner Saucedo, is going to shine the spotlight on Cardano and look realistically at both its short-term outlook as well as to what the long term holds for this cryptocurrency. Wagner puts great emphasis on analyzing crypto trends and patterns while also keeping current on news surrounding individual crypto coins and the financial marketplace in general.
Wagner as part of his own trading due diligence keeps a close eye on the metrics of the RSI, the Relative Strength Index, the Dormancy Flow chart and the Fear and Greed Index to gauge the short- and long-term perspectives of ALT coins such as Cardano. He also pays attention to the BTC Dominance Chart for key indicators on price movements. This chart is currently showing that Cardano has taken 5th place in CoinMarket and is on the rise with its price surging.
The news of SundaeSwap and the ISO launch on Jan 20, 2022 bodes well for the Cardano ecosystem Wagner feels and that will bring the coin price value up higher. There have been 134,000 new Cardano wallets issued in the last 13 days alone, more signs of great interest. DFI and CNFT via smart contracts adds to the future prospects of Cardano.
Looking forward into 2022 Wagner notes On-chains news on increasing blocks, which he states basically means the bigger the blocks then the more transactions it can carry is also good for Cordano.
The 30% pull to the upside might subside for Cordano’s ADA resulting in some short-term sideways action making Wagner somewhat Bearish for this time period. His long-term predictions though are very Bullish where he foresees the possibility of $6 -10 Cardano trading price developing over the next 12 months. His Bullish stance is further endorsed as more countries are adopting crypto as part of their financial platforms. Wagner suggests that this broader acceptance of crypto as a standard payment method will continue to steadily increase.
Wagner reminds investors to perform their own due diligence before investing or selling any cryptocurrencies or stocks and that the information he provides is for entertainment purposes only, he is not a financial advisor.
To receive a more details regarding Cardano you can watch Wagner’s YouTube video below:
For further news on all things crypto you can connect with Wagner here: Wagner Saucedo