Will The Cardano Smart Contracts Upgrade Trigger A “Sell The News” Event?

Cardano smart contracts upgrade is almost upon us. With just three days left, there is a lot of speculation as to what the price of the digital asset will do until then. The weeks leading up to the launch have seen the asset hit multiple new all-time highs. That is until the crash that rocked the market on September 7th. Cardano suffered an 18% flash crash that saw it lose most of its gains for the previous weeks. Now, with the market still reeling from the crash, the digital asset has begun to regain some of the lost value. But at a much slower pace. One news that has helped to hold the price up has been the confirmation of the Alonzo Hard Fork that had been scheduled for September 12th. Developer IOHK posted on their Twitter that the project was all set for the mainnet upgrade. Related Reading | The September Curse And How It’s Preparing Bitcoin For Another Rally But as the date draws closer, the reality of what the upgrade might do for the price of ADA looms over the community. Most maintain a positive outlook for the coming upgrade. Others, on the other hand, believe that this will trigger a “sell the news” event. Are Investors Planning To Dump Their Cardano Bags? Historically, with important upgrades like these, there have been instances where investors piled up their bags in anticipation of a big reveal and then promptly dumping their holdings with the release. This happens not only in the crypto market. Financial m...