Only 4 days to ADA smart contract...can someone explain why it's not bullish?

[15days]

...but rather the contrary?

[1714065998]

1714065998

[1714065998]

1714065998

[mexite]

First, there was a general market dump as most coins are trying to recover. Secondly, there has been some reports on Reddit and other platforms that some implementation on the blockchain didn't succeed, to which the CEO of IOHK has debunked. I think there are some people expecting that it would fail but I hope otherwise is the case.

So until the market cools and the smart contract deployment takes off, ADA may not go gaga. To me, it's the NFTs projects that have been holding the price for days/weeks now.

[nelson4lov]

...but rather the contrary?

I don't know but most likely because the concept of smart contracts have been around for several years now. There's dozens of projects in the space  with own smart contacts functionality and ADA is just joining an already saturated market. Imo, instead of getting excited over ADA smart contract launch (not sure why anyone should be?), I know I'll be better off accumulating other top tier layer 1 projects like NEAR protocol and Solana. NEAR especially has the smallest marketcap between all major Layer 1 projects yet they've built so much and no one is talking about them. That's why I'm opting for it instead of ADA even with the smart contract launch in the coming days.

[shinratensei_]

...but rather the contrary?

It's caused by bitcoin dump and that was decreasing the hype for the ADA smartcontract or the hype already happened, don't you see the big increases that happened with ADA since last month? that was proving if the hype for the ADA smartcontract was a real thing and i think that you can't expect the hype will be last long. you must also try to see the quarter chart of ADA and i guess that was answering your question.
https://coinmarketcap.com/currencies/cardano/

The price has already doubled since last month and the hype has already happened. it seems like that you're missing something from there. Just take a look at the chart.

[Tytanowy Janusz]

can someone explain why it's not bullish?

Buy rumours sell facts. Easy as that. Always 0-5 days before release of new feature comes dump which continues for weeks unless event outperform market expectations. Will ada smart contract launch outperform market expectations? Hell no! Fun fact about ADA is that its "soon to launch" something for last 4 years. In 2017 they were just a promise without working product and user base in an environment where there was not many ETH competitions, its 2021 now and nothing changed. They are still just a promise without working product and user base. They did not achieve anything while whole crypto industry made a huge step forward. We have BSC, SOLANA, DOT and dozens more ETH competitiors. We dont need ADA anymore. And now in 2021 they launch ... smart contracts .... damn even shitcoins outside of top 1000 CMC have smart contracts. That's what investors were waiting for last 4 years? I expect huge dump and launching smart contracts after 4 years is a perfect cash-out moment for every investor who trusted this shitcoin so long. the only thing that will save ADA from massive 90% dump is BTC pump and continuation of bull run of whole crypto industry.

[Review Master]

..but rather the contrary?

If market isn't on good condition, than it won't have that much effect on price instead of having great FA in the upcoming days. But it might pump after the deployment of smart contract on the mainnet. Although it's pumped previously when announcement was published previously. So lets dca at current time until it's finally deployed into the mainnet. Day trader can use stop-loss to prevent losses if bitcoin breaks support level and market gets another correction.   

[irixo10]

...but rather the contrary?

The thing is, most times a bad market affects all coins no matter whatever news the coin in particular might have or development going on, because people and emotion is something you can't control. So recently the market hasn't been in a good shape in fact the Bitcoin price dump few days ago was something else as it was fast , so that and many other fud made most people to exit the market, and when I refer to market, I mean ADA as well.
Also, with ADA having an upcoming development, many people might try to fud it, in order to bring down the price and then jump in to benefit as well, hence the reason it is good to know or have a good sense of investing in a coin such that you will be clam when the market is not in a good shape while keeping your focus long term or short term as the case may be.

[Ararbermas]

ADA still making bump despite of the fluctuation mate wherein at this point and since the bull run of the market ended. , but not too much and that's what i noticed when everyday i'm picking a coin to trade, probably that event still don't have an impact as of now,  indeed it takes time always so we must wait mate if however that news can really make a good progress with ADA on this situation. .

[Ekyfitri]

ADA still making bump despite of the fluctuation mate wherein at this point and since the bull run of the market ended. , but not too much and that's what i noticed when everyday i'm picking a coin to trade, probably that event still don't have an impact as of now,  indeed it takes time always so we must wait mate if however that news can really make a good progress with ADA on this situation. .

at least there is no effect from the news when the market is in correction. now there is growing more than 13% after the correction occurred one day ago. ADA is growing better than BTC and ETH moves. and I guess that's not bad for an update that's coming soon.
we'll see what's real after the update is complete. how the market and community will create a new trend for ADA.

[SlimShadyMmp]

When Ada smart contract is going to be evm supported I think we will see massive moves from ETH to ADA and that will definitely spike the price but until that people will just be optimistic on ADA for now Smart contact that just get initiated on launched and supported on app is basically a developer kind of thing so best wait for the devs

[shinratensei_]

When Ada smart contract is going to be evm supported I think we will see massive moves from ETH to ADA

The possible story of it will be the same like SOL. I never heard that if ADA will become ethereum compliance but what do you mean about EVM. ADA may have different mechanism about what kind of virtual machine that used by ADA blockchain.

that will definitely spike the price but until that people will just be optimistic on ADA for now Smart contact that just get initiated on launched and supported on app is basically a developer kind of thing so best wait for the devs

Too many people expected something big from ADA but this blockchain was full of restrictions. As far as i know, if all of the developers that wanna use ADA smartcontract must have verified their identities and being compliant with the regulation that is already followed by ADA. Even the team was saying there were lots of things that must be verified.