Quote of the Day
“Every day may not be good, but there is something good in every day.”
― Alice Morse Earle
The world has a lot of things happening that aren’t so great. As a Christian, I believe that this is the result of living in a broken world and that one day I’ll move on to eternity where all days will be good.
In the meantime, many of us have lots of bad days. Even the most fortunate among us has a bad day once and a while. But even in the midst of a really bad day, there is still something good.
The happiest people I know have learned to practice gratitude. They have learned how to be grateful even amidst a bad day. I want to be like that. If you’re having a bad day, remember, there is something good in that day. You just need to find it.
In The News
Pay close attention to what Jay Powell has to say during the virtual Jackson Hole summit today. This article details the ins and outs of the different considerations and outcomes that are in play.
Jim Cramer thinks Coinbase stock is cheap and says, “I think you should have up to 5% of your portfolio in crypto.” Just 5%!? Big personalities talking about crypto is VERY bullish for the space.
Cardano Updates
Cardano 360 yesterday contained a lot of updates. A few highlights include:
Most importantly, we are on track for Alonzo testnet hard fork on September 1st. The testnet is the final dress rehearsal before the hard fork on Mainnet.
814 proposals were submitted for Fund 6 of Project Catalyst! That is huge interest and growth in the world’s largest DAO. Chris and I decided to forgo a Fund 6 proposal while we work on doing a good job executing NFT Key that was funded as part of Fund 5.
The Cardano team is working with over 140 exchanges on the Alonzo upgrade. That is a lot of work to coordinate!
For additional updates, check out the full video update below.
The NFT Market is absolutely nuts! Cardano’s Space Budz project has established floor of 3,000 ada, a Berry sold for 50,000 ada, Cardano Trees sold out quickly, and much much more. Trybbles Drop 4 is this Sunday at 1600 UTC. Don’t miss it!
Technical Analysis / Price Discussion
Yesterday, Cardano ADA had a bad day.
As you probably remember, I said on Wednesday:
I could easily see ADA pulling back to $2.50 level to test as support.
That is exactly what we saw happen since then. So, it wasn’t a great couple of days for ADA. But there is something good in the day! ADA has found itself on the confluence of multiple areas of support:
Prior all time highs at $2.47
The new uptrend trendline
The .618 fib trendline extension
Those areas of support provide what could become the foundation for the next run at $3, and I think, my first target for this bull run of $3.90.
This newsletter is for entertainment and educational purposes. I’m not a financial advisor and you should do your own research and consult a financial advisor before investing in cryptocurrencies.