Pro-crypto Lark Davis explains his Cardano (ADA) hodling strategy $ADA CardanoADA cardanoCommunity ADA
"Cardano was one of the first coins that I made HUGE money on. Got in at 3 cents. held up to $1.20 in the 2018 blow off top. Didn’t sell any. Held to 3 cents in bear market. Full round trip. Sold around a buck in 2021.There's a lesson here," Davis wrote.
The price of ADA, according to Davis, dropped to the same $0.03 as when he got in, but he continued to hold on.Then, in 2021, the ADA price skyrocketed by thousands of percent. Cardano experienced a dramatic increase in value over a year, rising from less than $0.20 to more than $3. ADA achieved its most recent record high in September 2021, reaching $3.10.He sold a portion of his holdings in 2021, which allowed him to profit from them.
In a bear market, investor sentiment toward crypto assets is typically negative. As a result, some people panic-sell their holdings, which further drives down prices. Davis was able to resist the urge to panic sell and rather"hodled," which later paid off in the long run.ADA was trading at $0.389 at the time of writing, down 0.48% over the previous day. After the bear market of 2022, ADA is now 87.46% below its peak.
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