Cardano Dan's Newsletter - Issue #35

Crazy Enough?

Quote of the Day

“We are all agreed that your theory is crazy. The question which divides us is whether it is crazy enough to have a chance of being correct. My own feeling is that it is not crazy enough.”

— Niels Bohr, famous Danish physicist

It’s hard not to look at the world today and come up with crazy theories about what’s going on and what will come next.

When I was buying Cardano around $.03 & $.04 for months on end, most people thought I was crazy to think it ever had a chance to return to its 2017/18 highs.

Now as Cardano is dropping to levels not seen since January, a whole 25x above those levels, many people think I’m crazy for thinking it has the potential to go to the places I think it can - which is above a $1T market cap eventually.

Here’s my theory. The old financial system that we’ve known for decades is struggling to survive. In fact, it very well may not. Our political and financial leaders are printing trillions of dollars and devaluing their fiat currencies. At the same time, new technology (blockchain) has been invented and it facilitates financial store of value and transfers over the internet in ways that was never before possible.

Looking amongst those new technologies, there’s one project that has observed the shortfalls of Bitcoin and Ethereum and spent years researching the best way of solving those shortfalls (in a way that doesn’t consume vast amounts of energy). That project, Cardano, is about to release smart contracts in a few months that are far superior than anything on the market today because there’s been years of peer-reviewed academic research at their foundation.

My own feeling is that many peoples’ theories are not crazy enough.

Cardano Updates

1. NOWPayments unveiled the launch of ADA payment plugins for Shopify, WooCommerce and more. This is outstanding news. Payment option increase adoption and demand for ADA in big ways.

2. Cardano’s April 23rd development update included this tidbit about the ERC-20 converter, “With core functionality now in place, the team is focused on a security audit and some front-end UX/UI design prior to a testnet deployment coming soon.”

   IMHO, the ERC-20 Converter is like a superweapon hiding in plain sight. When serious projects see Cardano’s success, and how easy it is to switch protocols because of the ERC-20 Converter, it will be game on.

   Over the weekend, I asked the Sandbox team during a live stream if they had considered moving to Cardano. The answer was effectively, “No. Layer 2 solutions are coming soon and will be great.” I’m very curious to see if they and others stick with that position over the coming months. Another crazy idea I have is that more than one project will revaluate their position.

In The News

1. I’m seeing more and more articles about the coming price shock at the grocery store. I hate to be the bearer of bad news; but, if the changes to date haven’t scared you, the ones coming will. It is going to be really painful for a lot of people.

2. Dozens of people were arrested after the CEO of a Turkish Crypto Exchange fled with $2 Billion of their money. This is a really important example of why you shouldn’t have all, or even most, of your money in an exchange at any given time. Not your keys, not your coins!

   If you need a refresher on how to buy and securely hold ADA, check out my medium article.

Technical Analysis

Cardano bounced around in between the 50 & 100D EMAs this weekend. At the time I’m writing this, it is back in the resistance box I first charted last Friday.

Card₳no "Moon" Dan 🇺🇸 🇯🇵 🇪🇹 @CardanoDan

We're at a very important level. Breaking through is not a small thing and would be a big deal. #Cardano $ADA

Here’s the current view right now.

I could give a lengthy description of the upside and downside potential here. Bottom line points:

• Money printer going brrrr

• Africa special inbound

• Already had a sizable pullback

• Tax uncertainty will last for weeks if not months

• Most Bitcoin models suggest another 5 months of bull market at least.

TLDR - I think there’s a lot more reason to think that we go up instead of down right now.

As always, stay frosty and DYOR. I’d love to hear your thoughts. What do you think?

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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.