Cardano Dan's Newsletter - Issue #42
May 8th, 2021 - Weekly Recap
Quote of the Day
“Great minds discuss ideas; average minds discuss events; small minds discuss people.”
― Eleanor Roosevelt
You know what I love about the Cardano project? It’s all about ideas. It prioritizes them. It spends way more time on them than other projects. And in the end, I think Cardano will be GREAT as a result of its focus on ideas.
Key Takeaways from the Past Week
Monday - The Best Classroom
On Monday, we spent some time talking about the idea that “the best classroom in the world is at the feet of an elderly person.”
Wednesday - Meaningful Conviction
Mid-week, we considered the idea that “Conviction is worthless unless it is converted into conduct.”
Friday - Like a River
We wrapped up the week taking note of the idea that “There is no hurry. We shall get there some day.” AND, I announced my the launch of “Cardano Dan’s First NFT Collection!” Stay tuned for sale details.
Technical Analysis
All of these ideas are things that have led me to patiently holding Cardano ADA. While others were panicking about ADA being a “stable coin,” these ideas have led me to education about, conviction in, and patience with Cardano ADA.
And those things continue to be rewarded. This week, Cardano ADA broke out of a multi-month consolidation period. I covered where things may go next in yesterday’s newsletter here.
Looking at the crypto majors performance since March 2020 lows…
Cardano ADA broke back above BNB earlier in the week. With ADA breaking out of consolidation, I expect it to pull ahead of BNB again over the coming months. Ethereum, Chainlink, and Stellar all look like they’re worth watching. Although, I could see Ethereum having a consolidation period soon like Cardano recently went through.
And looking at our Cardano ADA performance compared to BTC and ETH…
Cardano is looking poised to breakout in the Bitcoin pairing. But, we all know that it only takes one big move from Bitcoin to shake-up the altcoin markets, so I will continue to pay close attention to Bitcoin’s price action.
Ethereum had a great run compared to Cardano over the past couple of months. As mentioned above, Cardano is breaking out of consolidation and Ethereum may enter a consolidation period soon, so I’m looking for Cardano to test the resistance around that horizontal red line again in the near future.
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