Cardano Dan's Newsletter - Issue #68
Who to Trust
Quote of the Day
“Never be afraid to trust an unknown future to a known God.”
― Corrie ten Boom
It’s hard to know who to trust these days. It seems like everyone has a hidden agenda. It’s become all too common for leaders and organizations to be comfortable lying or manipulating information with an “ends justifies the means” philosophy.
In this atmosphere of distrust, Corrie ten Boom’s quote provides important perspective on who we can, or maybe should, trust the most.
A quote like this carries more weight with me when it’s backed by action. Corrie and her family were instrumental in saving hundreds of Jews from the Nazi Holocaust. Corrie’s family was all arrested and imprisoned for these actions. Her father died in prison and she was sent with her sister to a concentration camp near Berlin where her sister died. You can read more about her inspiring story in her book titled, The Hiding Place.
When I consider where to go for advice about who to trust, I want to seek it out from people like Corrie who live out what trust really means.
In The News
Speaking of who to trust… the CDC and WHO are communicating two different perspectives on whether or not children should receive COVID vaccinations.
I empathize with parents struggling to decide what to do. I certainly don’t have all of the answers. I do know that trustworthy information is hard to come by and both of these organizations suffer from credibility problems.
JPMorgan is another organization I find difficult to trust these days. They’re in the news for the blockchain system they’re rolling out called Onyx.
Why is JPMorgan quietly rolling out a "JPM Coin"-based blockchain/repo system? So it steamrolls BoNY and State Street and becomes the sole triparty repo custodian the moment Fed rolls out digital dollarsMeet Onyx: JPMorgan's own blockchain https://t.co/RYCfM4coNK
zerohedge @zerohedgeIt’s pretty ironic, although not surprising, that big banks would try to roll out technology that is meant to cover over the sins of the big banks and central bankers.
Decentralization is all about taking power away from people who have shown themselves to be unworthy of our trust. I’ll be supporting project like Bitcoin and Cardano instead of ones like Onyx.
Cardano Updates
Charles did an AMA yesterday! First one in a while. The big news from the AMA is that “there’s a greater than 50% chance that Alonzo White will be shipping this week.”
The monthly Cardano 360 update is coming this Thursday. Don’t miss it!
#Cardano360: Coming Thursday @ 16:30 UTC Tune in for the latest edition of our #Cardano360 monthly show with the freshest news on #Alonzo #smartcontracts, new partnerships & much more Subscribe to our YouTube & get alerted as the show hits the air! Bell youtube.com/c/IohkIo
Technical Analysis / Price Discussion
On Monday, I shared the following
However, it looks like price will continue lower in the channel towards the white line and midline of the bull cycle channel as the next important area of support to be watching.
And this is the chart that went with it…
The markets played out as anticipated and we tested the bottom of the short-term channel and midline of the bull channel, along with the neckline of the head and shoulders pattern.
That test was followed by significant buying volume that’s continued well into the next trading day.
It’s difficult to tell for sure, but yesterday’s move could very well be the bottom of a bull run pullback. That’s far from certain; time will tell.
Markets are extremely volatile right now. Remember to have a plan and execute your plan. This is no time or place to be investing and trading emotionally.
Was that the bottom of a bull run pullback? Let me know your thoughts 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.