Quote of the Day
“Short cuts make long delays.”
― J. R. R. Tolkien
I often talk about the habit of successful people, “begin with the end in mind.” But, even if you do that, you need to take the right path to get to the end in the optimal amount of time.
Lots of people try and take short cuts and, in the end, it takes a lot longer to get to the destination.
In my humble opinion, Cardano’s development approach is the right one. Other blockchain protocols are being developed with a “short cut” approach. They got quicker adoption and traction, but are now experiencing the delays of their approach in getting to the final destination.
So, begin with the end in mind should be extended to include “and don’t take short cuts.”
In The News
Evergrande is China’s second largest property developer and is on the verge of defaulting on its debt.
Many folks are drawing comparison’s to Lehman Brothers, the housing crisis in 2008, and trying to determine how big the risks associated with Evergrande really are. It’s why I tweeted this a couple days ago.
Democrats are struggling to agree on a budget and tax path forward. The political infighting could result in a delay of weeks or months if they don’t get it figured out quickly.
Both Evergrande and the budget situation have the potential to influence crypto markets in big ways and folks should pay attention to both situations.
The Cardano Summit is just a little more than a week away! I expect there to be significant updates about what we should expect over the coming months in the Cardano ecosystem. Register today!
Cardano Robin and I are doing an NFT collaboration project. The drop is this Saturday (tomorrow) at 1600 UTC!
NFTs will be available for purchase on Cardano Robin’s website which includes additional info about the drop.
Technical Analysis / Price Discussion
We interrupt your regularly scheduled analysis to bring you some Bitcoin analysis. As Bitcoin goes, so goes crypto. So it’s important to keep an eye on where we are in the market cycle.
In the chart below, I copied the 2013-2017 cycle and overlaid it on the current cycle. It’s a pretty darn good fit. This pattern suggests that Bitcoin could see a 600% move between now and the end of the year.
This is far from guaranteed. But it is possible. If Bitcoin pulls a maneuver like that, I expect Cardano would do even better.
Keep an eye on this pattern to see if it continues following the trend from last cycle. It’s an important indicator for how the rest of the crypto markets will perform including ADA.
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.