Why 28th Feb is a big day for Cardano and how to profit from it!
As a crypto trader, 28th February is an important day that you should mark on your calendar. Its’ the day the Cardano (ADA) team will be meeting in London, to update investors on the latest development achievements.
What gives this event weight is the fact that it will be graced by Bruce Milligan a core member of the Cardano foundation. He will be updating members on the milestones they have achieved up to this point, and the direction they intend to take going forward. His presence will have a big impact on the price of Cardano. Here’s why:
There will be an increased interest in Cardano (ADA) around that time
Cardano is still a work-in-progress and any updates on what has been achieved, or is about to be achieved, is guaranteed to have an impact on trading volumes. That’s why on a day when the team will have a one-on-one with investors and give updates, you can expect the volumes to surge. If Bruce Milligan gives a positive update on upcoming developments, it will excite the market a big deal.
The community will offer suggestions on the future
During this meeting, the community will offer suggestions, on what the developer team should do to make Cardano better. Traders will be focused on these suggestions to determine whether if implemented, they would have a major impact on the value of Cardano. One of the issues that they will be watching out for is that of exchange listings.
There have been calls for the team to increase the number of exchanges where Cardano is listed. During this conference, the developer team will offer direction on this issue. Already the team has made it clear that they wanted it listed on only 3 exchanges in order to easily deal with any wallet issues that might arise. Whatever the team comments about this issue is guaranteed to excite the market, and create some serious buying or selling opportunities for traders.
How to trade Cardano (ADA) on the 28th of February
To make the most of the upcoming meeting and trade profitably, buy Cardano a few days before the meeting. This is because a few days to the meeting, there will be lots of hype around Cardano, which will turn lead to an increase in demand. Buying around this time gives you a perfect opportunity to make some money on the upside, once the meeting takes place.
After the meeting, if no major announcements are made, shorting Cardano would be a good idea. That’s because any delays in milestones will trigger investors to sell and put their money on other assets, at least for the short-term. However, if the team announces some great development milestones, then double down on your Cardano (ADA) long, since demand will most likely surge at that point. Holding your long until the next development milestone announcement would be a good strategy. You can also book some profits and wait to buy the dips later along.