Crypto Analyst Explains Why She Bought Another $20K Worth of Cardano’s $ADA Token

On 9 September 2023, pseudonymous crypto analyst Kara Szabo disclosed her purchase of $20,000 worth of Cardano ($ADA) when the cryptocurrency was trading at approximately $0.2534. Kara expressed that the price was too good to pass up, signaling her confidence in the asset.

In a post on the micro-blogging platform X (formerly known as Twitter), Kara revealed her growing confidence in Cardano (ADA), citing her own research as the catalyst. She disclosed an additional investment of $20,000 in the cryptocurrency, bringing her total ADA holdings to 156,391 tokens. With an eye on future market trends, Kara announced plans to expand her ADA portfolio to between 500,000 and 1 million tokens in preparation for the next bullish market cycle.

In the replies to her post, Kara, who believes that $ADA will set a new all-time high, went on to say that she thinks the lowest price $ADA could go to is $0.20 and that “$0.25 is a good price right now”.

On 1 September 2023, Kara disclosed her first significant purchase of $ADA tokens (this was when the cryptocurrency was trading at approximately $0.2578). Kara expressed that the price was too good to pass up, signaling her confidence in the asset.

I bought $20,000 of $ada here. It’s just too good of a price to pass up on. pic.twitter.com/a0yndxxwnY

Following her announcement, Kara faced some criticism for her investment decision. In response, she said the $20,000 investment was relatively modest and that she might consider investing up to $100,000 through dollar-cost averaging (DCA) if the price continues to decline. She downplayed the risks, stating that being wrong would have minimal impact, a scenario she finds unlikely.

In addition to her Cardano investment, Kara also shared her broader investment philosophy. She urged her followers to buy cryptocurrencies now rather than sell, emphasizing that the current market conditions offer opportunities to accumulate assets at discounted prices. According to Kara, strong coins currently in the red represent the path to financial success.

My loyal subjects, we are buying #crypto now, not selling. It’s time to accumulate deals on strong coins that are in the red. This is the path to financial success. pic.twitter.com/zV6p8C0jJJ