Cryptocurrency prices saw a quick correction last weekend. This consisted of a considerable dip in the price of Cardano (CCC:ADA-USD) also. However, as seen from its partial recovery the following day, this sell-off, triggered by reports the U.S. Treasury prepares to crack down on using Bitcoin (CCC:BTC-USD) in money laundering, could be short-lived.

Source: Shutterstock Simply put, this may not be the start of completion for the runaway booming market in cryptos. Instead, major names like Bitcoin, together with emerging cryptos like ADA, may be set to continue rising to greater costs. Yet, betting on a quick healing from last weekend’s “flash crash” isn’t the only factor to buy Cardano at today’s rates.

The non-fungible token, or NFT, bubble that was offering this crypto an increase previously this month might have already popped. Still, the long-lasting bull case stays for this up-and-coming altcoin.

A crypto with high functionality, Cardano might be a cut above the other smaller cryptos that have gotten attention in recent weeks. Now, the risk of a more “crypto crash” stays on the table. It’s prematurely to tell whether this is a short-term bubble. Or, the start of a full-on paradigm shift.

However, even with its risks, the capacity for it to increase over the long-lasting makes it a careful buy at today’s prices.

Current Sell-Off Does Not Modification the Video Game for Cardano

The April 18 “flash crash” may be seen by some as a possible start to a large-scale washout in the crypto area. However, given that earlier-mentioned recovery in crypto costs immediately after, in hindsight this volatility might be only a short-term blip.

Still, I will worry again: do not purchase simply as a “purchase the dip” play. More significantly, this short-term pullback has actually done little to alter the strong bull case for Cardano based on its fundamentals. As I broke it down back in March, the secret to this altcoin is its high energy. That is, the innovation behind it might give it higher function than incumbent cryptocurrencies.

This bodes well for its eventual extensive usage. Admittedly, this alone does not guarantee it’ll go up significantly from its existing rank amongst cryptos by market capitalization. For that, it’ll need massive inflows from institutional investors. And, still in its early stages, it might take years before that happens.

Even so, compared to other altcoins presently popular with investors, there is sufficient substance backing it up. That might not suggest much in the near-term. But, as a long-lasting play, that’s going to make a distinction.

ADA-USD vs. Dogecoin

A fascinating eliminate from the recent correction has actually been the relative resiliency of Dogecoin (CCC:DOGE-USD). Bears (such as myself) may have written it off a bit too early, as seen from its stunning rise given that April 12. But, not only has it continued to rally, it likewise rapidly bounced back from its April 18 losses.

But, when it concerns betting on the next major crypto, which one sounds like the more powerful contender? The one that has considerable real life applications (such as financial services in emerging economies)? Or, the one that started off a meme however, thanks mainly to the hyping by Elon Musk, has soared to end up being the 5th most-valuable crypto, entirely on financiers purchasing it out of FOMO?

That’s not to say we’ve seen a top in Dogecoin. The hype around it might continue, until the swimming pool of prospective speculative buyers gets tapped out. However then, offered it stands long shots of acquiring “clever cash” inflows in the near-term, expect it to drop substantially, as the bull case behind has been little but “greater fool theory” in action.

Simply put, if you’re trying to find a crypto that might sooner or later break the $100 billion, or even $1 trillion market cap level, opt for names like Cardano. As it gets emergency, and when big-ticket investors start allocating funds to it, it has higher long-term potential than Dogecoin.

Still Risky, Approach Cautiously

Once again, it may not be smooth cruising from here with ADA-USD. Its long-term potential customers are more than strong. But, given that the crypto market could see additional volatility, there’s no warranty this property class will not pull back in a huge method the coming days, weeks, or months.

Yet, if you feel you failed on BTC, and are wanting to “get in early” on the next huge cryptocurrency, it’s best to stick with names like this (with strong basics). Instead of ones operating on meme energy alone.

Bottom line: it’s still risky, so technique carefully. However, even after the “flash crash,” think about Cardano a buy at today’s costs.

On the date of publication, Thomas Niel held a long position in Bitcoin. He did not hold (either directly or indirectly) any other positions in the securities mentioned in this article.

Thomas Niel, a factor to InvestorPlace, has actually written single stock analysis considering that 2016.