Cardano Dan's Newsletter - Issue #22
April 3rd, 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
“We cannot solve our problems with the same thinking we used when we created them.”
― Albert Einstein
This week we talked about Decentralized Finance. IMHO, it is the type of out-of-the-box thinking that is necessary to solve the problems of today.
Key Takeaways from the Past Week
Monday - Can Cardano pull a Netflix Maneuver in DeFi?
Blockbuster didn’t consider Netflix a competitor in 2008. Soon after, Blockbuster was all but gone. The banks aren’t counting on Decentralized Finance being a real threat and Ethereum feels quite secure in it’s position compared to Cardano. Read why I think Cardano is positioned to pull a Netflix.
Wednesday - Opportunity, DeFi and Cardano
On Wednesday, we dug even deeper into DeFi, Liquidity and DEXs and discussed the coming flood of these important initiatives/capabilities on Cardano.
Friday - The Future of DeFi
We wrapped up the week discussing the likely next big steps in DeFi including decentralized identity and solutions that enables such as Insurance, Property Right, and more.
Look Ahead
Next week we’re going to cover some ground on Africa. I’ve been in sync with the Cardano team the last two weeks related to Artificial Intelligence and DeFi. Big news about both topics has broken the weeks I’ve written about the topics. I’m banking on the same this coming week with Africa. Charles has me hoping at least…
Technical Analysis
Here’s out current view:
Cardano ADA broke down below our primary trendline (white). BUT, it has not formed a lower low yet, that would take a break below $1. I personally don’t see it happening.
Let’s consider ADA against BTC and ETH. It’s still above support on both pairs. Although support is just barely holding on the ETH pair. That being said, the picture is still encouraging for ADA.
Finally, EVERYONE has been expecting Altcoins to pump in April and I think people got caught offsides in leveraged longs and the market is punishing them for it. I don’t expect that punishment to last long though.
One of the biggest lessons I’ve learned trading crypto over the past two-three years is this: I’m generally right about the intermediate and long term trends. Picking the exact right timing of short-term trends is next to impossible. So I focus way less on the EXACT timing of the next movement or two and look for the next BIG move on an intermediate timeframe. As of today, I still think the next big move is up and we see $2 ADA before the end of April.
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