Is Algorand dead or can it recover? - page 2.

Abiky

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Quote from: JamesDaniel90 on July 11, 2023, 04:49:08 AM

Is anyone buying these lows?

I am waiting for 10 cents before I buy again - if it doesn't fall that low I will just hold what I have till 2025 and hope it recovers.

Demand for ALGO is low compared to other leading coins such as BNB and ADA. I highly doubt people are buying, especially when they're only following the hype. The competition is stiff these days, so Algorand developers would need to bring something new to the table if they want to gather the attention of mainstream investors and traders alike. It's likely the crypto market will turn bullish by 2025, making it extremely-likely for ALGO to soar towards new heights.

What matters is the utility of the cryptocurrency instead of its price. If it's useful, it will retain its value for a long time. Otherwise, it will fade away into oblivion until it becomes history. No one can predict the future, so let's hope for the best. Just my thoughts Grin

judaspriest

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Quote from: Ojima-ojo on July 11, 2023, 06:55:26 AM

What you must know with altcoins is that once the price is dumped it becomes almost impossible for it to recover and that is why altcoins are referred to as gambling, you can't rely on them and as a matter of fact, investing in altcoins should be done with a predetermined mindset that anything can happen and the investment could visibly become zero.

This is why altcoins are not suitable for long-term purposes because their markets are highly unpredictable and for sure not suitable for long-term holding.

Actually not all altcoins are not suitable but indeed for the long term the risk is big,
for long term stay top coin is still a viable and safer option,
The most important thing is to always do your research before investing.

danherbias07

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Quote from: Blitzboy on June 08, 2023, 07:01:14 AM

Within the tumultuous seascape of cryptocurrency, the storm of instability is the lifeline we clutch onto, wouldn't you say? The predicament you're grappling with regarding Algorand echoes across the crypto cosmos in this era of relentless disruption. The seismic shockwaves sent by the latest SEC verdict certainly upset the apple cart. Algorand finds itself in the eye of the storm, inducing a collective, nail-biting suspense among all.

Yet, one mustn't mistake this narrative. The branding of Algorand as a security isn't the mortal blow you might perceive it to be. There's a whole plethora of securities that shine in the marketplace. The real pivot of discussion is the inherent usefulness and worth of the asset at hand.

This transient plummet might seem merciless, yet recall the genesis years of Bitcoin. It danced its own waltz of peaks and troughs before it found its stride. Thus, the question of Algorand's mortality or survival lies largely in the beholder's gaze. If faith in the project remains unwavering, this could very well be a golden opportunity. However, remember, in the unforgiving world of crypto, guarantees are elusive as shadows.

Dude, that's deep, I didn't even understand anything you said. Grin

We can always just make it simple.

OP, it's not dead but big problems are coming out.
https://www.coindesk.com/business/2023/07/11/defi-protocol-holding-55-of-algorand-value-to-shut-down/

Quote

Algofi, the largest decentralized finance protocol on layer-1 blockchain Algorand, said it will shut down following a "confluence of events" that meant it could no longer be maintained to its highest standard.
The platform, which offers lending, borrowing and trading, will shortly move into withdrawal-only mode, a blog post said.

Now, it's your choice. If you are on the losing side and you think it's still worth the wait then go for it.
IMO, I would withdraw if they are given a chance to do it now. For me, these are bad signs of something bigger happening and I am so pessimistic about it.
The chances of it closing down is there.
Again, it's your choice. There are other projects who survived this kind of thing and went up afterward due to heavy support from their investors and retail buyers. If you think the money you spend investing with them is okay to lose then stay.

avp2306

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Quote from: JamesDaniel90 on June 08, 2023, 01:37:07 AM

I hold Algorand and not sure if I should buy these low prices or just hold and accept its over ??

If afraid taking risky decision stop it, don't stress yourself on things you can't afford to lose.

Quote from: JamesDaniel90 on June 08, 2023, 01:37:07 AM

It is currently at its lowest price in 3 years and almost at its all time low.

Then this is a sign that there hype is over and to bad for you if you catch the knife while there are no whales accumulating it because you might be the buyer which devs wait since they can dump some of their shits to you and you became their new bag holder.

Quote from: JamesDaniel90 on June 08, 2023, 01:37:07 AM

The SEC labelling it a security has put a lot of fear into everyone.

Yes it put fear since Sec warning is much stronger than devs hype.

Quote from: JamesDaniel90 on June 08, 2023, 01:37:07 AM

Does it have a future or is it over?

Yeah I think its over.

Ojima-ojo

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What you must know with altcoins is that once the price is dumped it becomes almost impossible for it to recover and that is why altcoins are referred to as gambling, you can't rely on them and as a matter of fact, investing in altcoins should be done with a predetermined mindset that anything can happen and the investment could visibly become zero.

This is why altcoins are not suitable for long-term purposes because their markets are highly unpredictable and for sure not suitable for long-term holding.

JamesDaniel90

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Is anyone buying these lows?

I am waiting for 10 cents before I buy again - if it doesn't fall that low I will just hold what I have till 2025 and hope it recovers.

kevindjunaidi

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Quote from: JamesDaniel90 on June 08, 2023, 01:37:07 AM

I hold Algorand and not sure if I should buy these low prices or just hold and accept its over ??

It is currently at its lowest price in 3 years and almost at its all time low.

The SEC labelling it a security has put a lot of fear into everyone.

Does it have a future or is it over?

In my opinion, the current situation has indeed made cryptocurrency prices fall, including the price of Algorand, but as long as Algorand still has a progress, then of course Algorand can still recover and increase again, so if you really feel that Algorand has progress and still active, then you don't need to worry, so you need to keep holding and doing DCA Algorand to be able to get profits quickly.

gaston castano

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Quote from: MainIbem on June 08, 2023, 03:40:34 AM

There is nothing much over here what you should do now is to utilized this chances of the bear to fill your bag, i don't believe Algorand would be dead in that manner. I guess it will recover but for me if you are holding enough volume of it there is no need buying more instead you may buy other altcoin which you think are likely to give you some good profits within the next 8 months to 1 year.

Everyone knows that when a bear market occurs we should fill our bags, but the problem is that our money must still be used, or it cannot be used entirely because of necessity.

CapGelatik

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Quote from: Rampagoe004 on June 13, 2023, 06:31:24 PM

I too have been holding back Algorand for the past few years. I have purchased Algorand in 2021 for $2. That means I have lost almost 20 times my money ( current price $0.1 ).
I also hope Algorand can recover but I am pessimistic they can hit their ATH again.

You are too greedy to buy algorand at a price of $ 2, before buying a coin make sure you see the supply first,
don't just buy it because if the supply is a lot like algo and has a high price then the potential for dump is much bigger,
so use your experience for learning.

Magic-Money

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The cryptocurrency market is on the Bear market, as long Bitcoin price is going down, other alt-coins are moving down in price as a result of looking for a good entry point to buy and hold for a long term investment, which is Algorand ADA Coin has a strong future with a strong communities and is in a good position to buy more.

Rampagoe004

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https://duelbits.com/

I too have been holding back Algorand for the past few years. I have purchased Algorand in 2021 for $2. That means I have lost almost 20 times my money ( current price $0.1 ).
I also hope Algorand can recover but I am pessimistic they can hit their ATH again.

SlimShadyMmp

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SEC are just fishing around looking for easier targets So I think hold on to your position considering algo is nice smart contract application and there are so many backings around it What you should be looking at is the development and dapps coming to the Ecosystem as that will be the determinants growth next bull run..I think algo might end of some storage or AI smart-contract

Abiky

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Quote from: riskarcher on June 12, 2023, 03:01:19 PM

Never speculate what will happen at this time but think about what will we get in the future, for utility ALGO still promising but as statement by owner of ALGO they don't care about price they just focus on fundamental and creating more ecosystem and that statement same with ADA coin as long as ecosystem still create i belive price will follow of the growth their potential. Don't care about SEC lawsuit and the price if you entry at all time low u're still lucky compared with people who invest in ATH, maybe they still waiting for the next bullrun

If Algorand delivers as promised, it may turn out to be a good investment in the long run. Most altcoins are driven by hype, so don't be surprised if you see the majority going up while coins with real utility are in the lows. Whales and ordinary investors are looking to make a quick buck, so they will choose coins that are most beneficial for them. If there's one thing that's keeping the market in the red, it's fierce regulatory action from the US. The SEC (US government agency) has been acting aggressively against the crypto industry since the collapse of FTX.

Things are not as bright as we hoped for the crypto industry right now. I'd suggest you wait until the dust settles for good. The 2024 BTC halving and the 2024 US Elections will determine the fate of the market in the long run. If there's another administration by the time 2025 arrives, Gary Gensler might no longer be chairman of the SEC. That is if the House bill doesn't get approved before Election day comes in. Without Gary Gensler, the US crypto market will flourish once again. Who knows if the best is yet to come for ALGO and the rest of the other cryptocurrencies on the market? Just my thoughts Grin

davide72

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Some altcoins started the dump even before the SEC with the SEC speculating even more. Algo made a nice dump, a coin that holds up well is XRP and I think it could make a nice pump and dump.

Victorik

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I think algorand may come back, maybe during the bull run, currently the market is in a bad state and almost all coin/token have been affected. So, if you have the spare cash, you can buy more.

Desscount

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There's no denying that Algorand does have good project development, and deserves to be in the top 100 coinmarketcap,
but with that much marketcap, Algo still can't achieve positive ROI, but even to a negative ROI and even reached a new All time low this month,
and yes it's a shame that a good project like Algo is experiencing this and it can even result in decreased trust in the algorand.

riskarcher

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Never speculate what will happen at this time but think about what will we get in the future, for utility ALGO still promising but as statement by owner of ALGO they don't care about price they just focus on fundamental and creating more ecosystem and that statement same with ADA coin as long as ecosystem still create i belive price will follow of the growth their potential. Don't care about SEC lawsuit and the price if you entry at all time low u're still lucky compared with people who invest in ATH, maybe they still waiting for the next bullrun

terencio

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I think it’s hard to predict what will happen with the SEC lawsuit and how it will affect the price of ALGO. I personally believe that Algorand has a lot of potential and innovation, and I hope they will overcome this challenge. However, you should do your own research and decide what is best for you.

Blitzboy

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Quote from: Abiky on June 11, 2023, 03:36:02 PM

Quote from: JamesDaniel90 on June 08, 2023, 01:37:07 AM

I hold Algorand and not sure if I should buy these low prices or just hold and accept its over ??

It is currently at its lowest price in 3 years and almost at its all time low.

The SEC labelling it a security has put a lot of fear into everyone.

Does it have a future or is it over?

The SEC is just a government agency with jurisdiction on the US. It won't have any effect on other regions such as the EU or Asia. Crypto is all about decentralization, so it should be able to emerge stronger in the long run. As far as Algorand is concerned, I think it will survive as long as developers keep innovating on the project. The price for ALGO is going down because of the extended bear market. Most altcoins are in the same train, especially when all of the attention is on BTC right now.

For ALGO to rise in price, BTC needs to go all the way to the moon. But that is if Algorand captures the attention of mainstream traders and investors alike. There are so many competitors that have greater adoption than Algorand itself. So if demand is low, so will the market price for the cryptocurrency. You'd have to do your own research to determine if Algorand will have a future or not. Crypto land often behaves in many strange and bizarre ways, so expect the unexpected. Just my opinion

An all-time low price, the SECs ominous shadow looming over it, its enough to make any investor break into a cold sweat! While its true that the SEC only directly controls the US market, its influence cannot be underestimated. Markets worldwide pay attention to their decisions, so an SEC security label could indeed send shockwaves far beyond US borders. You posit that cryptos' decentralized nature is its saving grace. While that is fundamentally true, remember that the real-world effectivenes of a coin goes far beyond the principle of decentralization. It boils down to the strength of the underlying technology, the utility of the coin, and the faith of its user community. Suggesting that ALGO's success is entirely hitched to BTC moon mission is somewhat reductionist. It's a complex ecosystem out there, and myriad factors play into a coin's success or failure. So tread carefully and arm yourself with knowlege

Ziskinberg

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Quote from: eightdots on June 11, 2023, 11:21:19 AM

Quote from: JamesDaniel90 on June 08, 2023, 01:37:07 AM

I hold Algorand and not sure if I should buy these low prices or just hold and accept its over ??

It is currently at its lowest price in 3 years and almost at its all time low.

The SEC labelling it a security has put a lot of fear into everyone.

Does it have a future or is it over?

You should consider every possibility. Invest in other coins if you have enough Algorand on hand. Perhaps it will never return to its former level. Perhaps you will have to wait too long. You need to consider these too. You can also keep your money in cash and wait for the dark clouds over the market to dissipate. Or you can buy coins cheaply at current low levels. What is cheap today may be expensive or cheaper tomorrow. Rest assured, no one knows the answer to that.

Unfortunately, we can't assume that what is cheap today will soon grow a few years from now but can possibly be dead. Just like with Algorand, never I see such potentiality to grow but instead, it shows already a dying scenario which is hard to expect to recover no matter how long you wait. If I have a coin showing like that, I shouldn't think of any positive or miracle to come as it was hopeless, really. Instead, I have to move on and make it a lesson of how terrible it was in investing cheap and worthless projects.

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