Cardano Dan's Newsletter - Issue #132
No Alternatives
Quote of the Day
“The absence of alternatives clears the mind marvelously.”
― Henry Kissinger
It’s so true. And it’s why I ended up in crypto in 2017 after years of digging into it further and further.
Fiat money is being debased. The old financial system is old and inefficient for the internet age. The leaders of our world have gotten drunk on their power and are making decisions to stay in power and enrich their wealthiest friends while everyone else struggles.
As I evaluate what’s happening in our world, crypto is the only path forward that makes sense to me. It’s a shame it comes as a result of so many problems, but sometimes that is the only way to eliminate alternatives and clear the mind. It’s a paradox.
In The News
Speculation is growing that the SEC will approve (or at least not block) a Bitcoin ETF very soon.
As part of the flurry of regulator proposals, Coinbase unveiled a Digital Asset Policy Proposal asking Congress to pass legislation to regulation marketplaces for Digital Assets. It includes a proposal to create a new standalone crypto regulator.
Cardano Updates
The Cardano team is starting to market DeFi. I think this bodes well for some major announcements in the coming weeks.
We released a first look at our Zombie Chains NFTs! If you like how it looks, click on the tweet and follow the instructions for a chance to win one.
Technical Analysis / Price Discussion
Cardano ADA is getting really squeezed in some tight price ranges. It’s squeezed between:
Important horizontal support and resistance levels of $2.47 and $1.89
The 50D and 100D EMA levels
Prior short-term resistance and long-term support levels (white lines - it’s broken both in the short term)
Price action can only squeeze for so long. There will be a break-out. I personally think it will be to the upside and will correspond with a pause in Bitcoin price action and/or major news about DeFi adoption on Cardano.
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.