Cardano Dan's Newsletter - Issue #117

Find Out Why

Quote of the Day

“The two most important days in your life are the day you are born and the day you find out why.”

— Mark Twain

Have you spent much time thinking about “why” you’re here? Simon Sinek is a popular author that has written a best-selling book on the topic.

Many people don’t spend enough time thinking about this, or they wait too late in life to think about it.

Find your why as early in life as possible and it will give the rest of your days meaning and purpose.

Key Takeaways from the Past Week

Monday - The Present

Monday we celebrated the launch of “smart contracts” on the Cardano network! I also shared some thoughts about where I see ADA heading over the next couple of weeks.

Wednesday - Heaviest Burden

Mid-week we touched base on the growth that comes from carrying a heavy burden and shared a variety of news including some bid expectations for the upcoming Cardan Summit.

Friday - Short Cuts

Friday’s newsletter talked about the reality that attempted short cuts can actually term into long delays, and it’s much better to take the right path to the desired end goal.

I also shared about my now launched NFT collaboration with Cardano Robin! The collection is over 50% sold and is on sale here for a limited time.

Technical Analysis

Cardano ADA had a down week like most cryptocurrencies and markets in general. Concerns about the Evergrande and U.S. budget situations are bleeding there way into markets.

I shared a very similar chart to the one below earlier in the week. I’m still expecting the current price action to follow a similar behavior to what happened in late 2020/early 2021 as ADA broke out from July 2020 highs.

It’s going to take a number of weeks and I expect the next major move higher to coincide with real DApps and DEXs coming to Cardano as the tooling works its way to developers.

Be paying attention to the Evergrande and budget situations as they could unleash “black swan” events that make other analysis mute.

Looking at the crypto majors performance since March 2020 lows. Nothing really big or new happening here. Cardano continues to be the best performing crypto major this cycle.

Finally, looking at the market cap ratios against Bitcoin and Ethereum… ADA is down this week against both Bitcoin and Ethereum.

However, ADA has some nice support levels in both pairs and (as I keep saying so often you probably don’t need me to repeat) I expect major adoption events and news in the coming months that I believe will propel Cardano ADA into “discovery” territory on both of these comparisons.

That’s it for the weekly recap. Hope you all have a great rest of your weekend!

Before You Go

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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