As of today Cardano ADA is ranked 6th in relation of market cap, after a recent surge of >350% in the last week. While this is great for ADA holders, I would hang back before going all in now that it is at an ATH.
My main reason? It is still a conceptual product.
I am most certainly not saying that ADA is a scam or pyramid scheme that others have made it out to be, however, a ~14.5 BILLION dollar market cap on a product seems unsustainable.
I plan on investing into ADA in a few weeks once the price stabalize. If I am wrong, I may miss out on some potential gains, but I think in the long run that this will be a very profitable coin.
Don't let your FOMO cost you if this coin takes a large correction!
EDIT: As of 11:45AM it is now 7th, with price holding ~$0.55
It is at an ATH, but I can't see it making a major correction any time soon. Maybe a small dip, but I'm confident it won't be more than 10-15% like some others (cough Iota). Do you know if the recent rise was due to any news? That's the only time I've witnessed large spikes and corrections. Hype is strong, but I think the scientific philosophy behind Cardano shall prevail in the long run.
Just my two cents!
No major news, just alt coins blowing up. The best reason I've seen is that whales are pulling out and investing heavily in alt coins, and ADA is the front-runner for the '3rd generation' of crypto. I don't see this crashing towards $0.10 or anything, but am still skeptical for a drop to $0.30 in the next week.
If it gets sub $0.40, I'll be in for sure.