Cardano Dan's Newsletter - Issue #41
Like a River
Quote of the Day
“Rivers know this: there is no hurry. We shall get there some day.”
— A.A. Milne, Winnie-the-Pooh
Our culture has popularized and normalized instantaneous gratification. To want something right away and get it right away. Or to think something right away and say it right away.
We all have moments where we should have thought about something a little more before we said it. In an instant like that, one of the wisest people I know likes to lighten the mood by saying, “That one should have gone round the head one more time before it came out of the mouth.”
Cryptocurrency markets and popular trading personalities have led people to believe that, if you want to be rich, you can have it right away.
Unfortunately, more often than not, people that want to be rich RIGHT AWAY take drastic steps to accomplish that goal and they end up rekt. They’ll take steps like using leverage or investing more than they can afford to lose. Or worse yet, both at the same time.
I see the results of the instant gratification trend in my twitter thread every day. There’s a group of folks that like to call Cardano ADA a stable coin. LOL. ADA is up more than 80x since March 2020 lows. Not only is that not stable, that’s one of the best short-term investment opportunities in the history of man-kind.
Almost everyone has heard the saying, “Patience is a virtue.” It’s true. It takes time to get to certain destinations. Don’t try to rush there all at once. If you rush, you may not make it to your destination at all and you certainly won’t enjoy the journey as you go. Instead, be like a river.
In The News
Some big names have been talking about ADA lately! I took great pleasure in Raoul’s public acknowledgement that he owns some ADA. I’ve been interacting with Raoul on Twitter for over a year and I know he’s seen my comparison charts. There’s a part of me that hopes I’ve contributed to this statement becoming true, even if in just a small way.
Peter Brandt is a well-known trader. He is the trading personification of “Like a River.” Here’s what he said about ADA on twitter yesterday. Peter followed up the tweet with a response to a question about rectangles saying, “I assume that most rectangles will become continuation patterns. Not all, but most.”
Those are two really big names talking about ADA in a flattering light recently. That’s great news!
Cardano Updates
Unfortunately, we saw some Stake Pool shenanigans recently. The CRO stake pool changed their variable and fixed fees to 99% and 3,400 ADA respectively.
Small adjustments to fees over time are to be expected. Quality stake pool operators will share this news with delegators in advance.
Making a massive end of epoch change like this is literally stealing. It’s why it’s important to stake with people you trust.
The Cardano NFT project “Clay Mates” launched my character in their project yesterday! If you didn’t see Danny S. Pacey yet, here he is!
Introducing Danny S. Pacey ! We were going to wait until later to reveal his full animation but with all the $ADA action we just couldn't contain ourselves 👀 Adoption opens at 19.00 CEST ❗️ 3....2....1 🚀His adoption is already closed, but stay tuned for a giveaway on Twitter!
Finally, I launched “Cardano Dan’s First NFT Collection!” Each one is a video based on my logo with animation and sound and my well-known “TO THE MOON” excitement!
#Cardano Dan's First #NFT Collection!!! Only 10 will ever exist. Stay tuned for $ADA sale/auction details!
Here are the highlights:
There are 10 total NFTs: 1 Original, 3 Ocean, 3 Day, & 3 Night
I’ll be selling/auctioning them soon - stay tuned for more details!
Check out one of the videos here!!!
Technical Analysis
Cardano ADA broke out of its consolidation pattern!!! The Cardano community on twitter had quite a lot of fun yesterday. The first thing I’d like to point out is the volume. Look at that volume! it’s a tell tale sign that the consolidation pattern is over.
So where to next? Here’s a measured move view of where we could be heading
I also tried drawing some Trend-Based Fib Extensions, but I didn’t like a lot of my starting points for that… it’s tough because Cardano ADA has been so strong for so long. I’ll just say that those patterns had extension targets from the mid $2 to mid $5 range.
As a reminder, my first ADA target for this bull cycle was published here. I’ll be sharing more targets in the coming weeks and months!
What do you think? Did you have patience to stick around for the end of the consolidation?
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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.
Great read Dan. Love your insights. Doing a brilliant job as usual