Cardano Dan's Newsletter - Issue #151

Tremendously Interested

Quote of the Day

“Find something you're passionate about and keep tremendously interested in it.”

― Julia Child

I’m passionate about freedom, technology, and finance. Blockchain is at the intersection of those topics, so it was a natural fit to catch my attention.

Since 2017 I’ve kept tremendously interested in blockchain and it’s a passion that’s served me well. I plan to continue feeding that interest for years to come because good things happen when you invest in the things you’re passionate about. Julia Child is a great example of that.

In The News

1. The Twitter CFO made headlines for saying that Twitter buying crypto assets “doesn’t make sense right now” because of volatility.

   To understand this comment, you really need to understand how publicly traded companies report on their assets and how the volatility impacts their reporting. Twitter’s position makes total sense until the way investors review and understand financial statements change. Michael Saylor explained this in a recent YouTube video I watched but I was unable to find it again to link here.

   Twitter’s position doesn’t change my opinion about cryptocurrencies one bit, but it’s interesting news.

2. Senators Wyden and Lummis are introducing a bill to fix the inept and dangerous reporting requirements that just passed in the Infrastructure legislation set to become law in November.

   Senator Cynthia Lummis @SenLummis

   We need to be fostering innovation, not stifling it, if we are going to maintain America’s position as the global financial leader.

   

   lummis.senate.govWyden & Lummis Introduce Bill to Fix Broker Definition for Digital Assets » Senator Cynthia LummisLegislation Will Ensure U.S. Continues to Foster Innovation & Maintain Position as Global Financial Leader WASHINGTON, D.C. – U.S. Senators Ron Wyden (D-OR) and Cynthia Lummis (R-WY) introduced legislation to clarify the definition of digital asset “broker” as included in the Infrastructure Investme…

Cardano Updates

1. Charles Hoskinson says that he is “really loving how the roadmap for 2022 Cardano is coming together.”

   Many people like to focus on daily news and price action, which haven’t been great for Cardano lately. But, changing the world doesn’t happen in the weeds.

   IMHO, when you zoom out, Cardano is still one of the 3 blockchains most likely to change the world. 2021 has laid the foundation for for major adoption in 2022.

2. Trybbles Series One - Part 9 has been unveiled along with a change to win a SRE Trybble!

   Card₳no 🐂 Dan 🇺🇸 🇯🇵 🇪🇹 🇹🇿 🌑 ADA @CardanoDan

   🚨 Trybbles #NFT #Giveaway! 🚨 Series One - Part 9 has just been unveiled. A chance to win a Trybbles SRE of your choice! trybbles.com/sre To enter giveaway, do all 3: ✅ Follow @trybbles ✅ Follow me ✅ Retweet I love patterned Tyrbbles and there are lots of those!

Technical Analysis / Price Discussion

Cardano ADA made a big move and it was down. It wasn’t horrible though. It brought a retest of the .618 level and the 200D EMA. It also put more volume into a Volume Profile gap I’ve been watching (not shown).

All in all, it doesn’t change my expectation that we see a big move up soon. As I’ve discussed in the past, picking the exact turning point between short-term trends is tricky business. The most important thing is making sure you know where markets are in long-term trends and cycles. I remain convinced this bull market has more time and room to go.

Short-term, ADA is due for at least a relief rally after ADA has seen a 26% decline over 7 days. Don’t be surprised if the relief rally turns into the short-term trend reversal we’re looking for.

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.