Cardano Dan's Newsletter - Issue #61
Thought Life
Quote of the Day
“A man is what he thinks about all day long.”
— Ralph Waldo Emerson
It’s true. What do you spend all of your time thinking about? That is what you end up becoming and what you end up truly loving.
Spend intentional time today thinking about the things you want to love. You’ll be better off for it.
In The News
Inflation is starting to impact consumer activity in a big way. Central bankers have put themselves between a rock and a hard place.
Among the stories I’ve encouraged you to pay attention to, monetary and fiscal policy is one of the biggest you should follow.
Besides regulation, the way that central bankers decide to handle inflation and economic activity is going to impact cryptocurrencies as much as anything else.
Cardano Updates
Smart contracts are running on the Alonzo testnet! Can’t believe that I’m still seeing “vaporware” comments on twitter. Some people are about to look really stupid. More details below.
Pretty cool news coming out of Slot Leader! A large exchange is planning to delegate its ADA to community pools.
I assume this is a direct result out of hard work and communication/coordination by Cardano Foundation because the news comes from Frederik Gregaard.
This is really positive for securing the network and supporting hard-working Cardano community members. I hope more exchanges follow suit in the future.
Technical Analysis / Price Discussion
Here are thoughts I shared on twitter a short time ago
Chart is below. I’m not panicking, but I don’t like the slow grind lower towards our most recent higher low. Going below that does not bode well. Although, going below that could trigger a flood of stops after which, markets could push higher too.
Unfortunately, there is a steady drumbeat of negative news about Bitcoin and crypto that is clearly coordinated right now.
On the positive side of things, Cardano is clearly slated to see major technical progress over the next few months.
I’d really like to see Cardano ADA stay above the $1.34 level and establish another higher low. I am less confident in that path at this point and my read on direction of markets in the coming weeks feels a lot less certain at the moment.
That being said, I still believe it is most likely that the current bull run is not over. However, I’m first and foremost a long-term investor, so I’m prepared to wait for the crypto markets to move higher if I’m wrong.
How about you? Are you feeling less confident in near to mid-term market direction? Let me know in the comments.
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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.