Cardano Dan's Newsletter - Issue #14
March 20th, 2021 - Weekly recap and look ahead
Welcome to the quick-hitting newsletter about Cardano, Crypto Trading, Blockchain, Monetary Policy, & Data Privacy.
Weekly recaps are about pressing pause and taking stock of where we’ve been and where we’re going. If you enjoy it, please share it with others when you get to the end!
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Quote of the Day
“Reflect upon your present blessings.”
― Charles Dickens
Weekly newsletters are all about reflection, so this seems a fitting quote. Cardano ADA is destined for the moon (at least I think so). But it takes some time to get there.
I’m thankful for the incredible price moves and development releases that we’ve already seen and that makes me ok with some consolidation while we wait for the next leg up.
Key Takeaways from the Past Week
Monday - Paradigm shifts in the world of finance
Inflation is here (even if our financial leaders don’t admit it). You can therefore no longer measure returns according to the US dollar. It has become the wrong denominator. Bitcoin is performing better than all normal investment options and Cardano is outperforming bitcoin. Read more here.
Wednesday - Coinbase Pro announces Cardano ADA listing
The news of the week was DEFINITELY Coinbase listing ADA on both Coinbase Pro and Coinbase. We’ve been waiting a long time for this moment. I got into the details of what this means for the price of Cardano ADA and how it fits into the bigger fundamental picture.
Friday - Africa is the new China
Charles Hoskinson gave the keynote address at the Blockchain Africa Conference 2021 this week. I provided some cliff notes from the talk and a little bit of my own commentary. You should check it out to understand more about why Africa presents such great opportunity in the coming decades and why Cardano is really well positioned for that.
Look Ahead
Next week we’re going to cover some ground on artificial intelligence, and a related project coming to Cardano soon, SingularityNET (AGI).
It’s going to be fun.
Investing Nugget
Logarithmic price scales are useful for very long range trend analysis.
This is because they display changes in prices such that a 100% move always looks the same whether it’s a move from $.02 to $.04 or a move from $.50 to $.1.
Log scales are also very helpful when visualizing assets that are rapidly appreciating or depreciating in price.
Analysis
Cardano ADA is still consolidating above its .382 fib retracement level and the prior swing high now established as support.
The thing I’d like to call your attention to today is the zoomed out logarithmic view of the Cardano ADA chart.
Now I’d like to show you a zoomed out logarithmic view of Amazon’s chart.
Cardano offers the same paradigm shifting technology (maybe even greater) as what Amazon brought to market over 20 years ago.
Two decades from now, Cardano ADA’s current chart may be the bottom left portion of a chart that looks much like Amazon’s chart today.
I tweeted some similar set of thoughts about an Amazon comparison 4 months ago.
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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
Nice Dan