Cardano [ADA] – Cardano’s co-founder, Charles Hoskinson, has been a long-criticizer of crypto day-traders and those concerned over the daily price of coins.

The ignorance and stupidity of day traders never ceases to amaze me. I do not and legally cannot influence price. It’s not within my power. Stop looking to me as a get rich quick solution. I’m here to build Cardano and we are provably doing that every single day https://t.co/F18AoyiV1z
— Charles Hoskinson (@IOHK_Charles) March 9, 2018

Hoskinson followed his statement by saying:

The markets went from 250 dollar Bitcoin (available on Coinbase) to 20,000 dollar Bitcoin (available on Coinbase) in a year without much change in fundamentals. Add that these are thin markets, mostly unregulated, subject to black swan events and filled with retail money. = massive volatility and high risk. What’s not clear?
— Charles Hoskinson (@IOHK_Charles) March 9, 2018

Many new investors flooded the cryptocurrency space towards the end of last year, purely based on “FOMO” and because they heard the random stories of individuals making enough money to buy Lamborghinis. A large number of these investors were new to investing and hadn’t done any research or due diligence on the projects/coins they were investing in. It quickly became the gamble of which one will shoot up 1,000%, as most of them were doing Q3 and Q4 of 2017.

When the market started dropping, many of these same investors began to panic as they had never seen the crypto market in the red before and had zero experience in general market movement. These investors also had no clear understanding of the technology behind cryptocurrency and its longevity for the future.  Thus causing the market to crash $500 billion in just 30 days time.

Now, it seems investors are entering the market doing their research and believing in the projects of the coins they are investing in and also the team’s ability to execute the vision.