Cardano Dan's Newsletter - Issue #69
Character Index
Quote of the Day
“The best index to a person's character is how he treats people who can't do him any good, and how he treats people who can't fight back.”
― Abigail Van Buren
Most of us are pretty good at treating people well when it’s beneficial. But that doesn’t say very much about our character. It’s easy to treat people well when doing so will result in benefits or blessings. It’s also easy to treat people well when treating them poorly would result in problems.
Do you want to grow your character? Focus on serving people that can’t help you or harm you. Serving people like this is truly a selfless act and it will be an investment in your character you won’t regret.
In The News
John McAfee died of an apparent suicide in a Spanish jail earlier this week. McAfee was an incredibly interesting person who was obviously quite intelligent and willing to take on the establishment.
But at the same time, he lacked character, self-control, and wisdom, and in the end, those shortcomings led to his downfall. It’s a real-life example of our topic form earlier this week that character is more important than success.
The exodus of Bitcoin miners from China will result in one of the largest difficulty adjustments ever, dropping the difficulty of making a block down and increasing the profitability of mining by estimates of 20-25%. Here’s a great thread discussing the upcoming change:
Cardano Updates
The June edition of Cardano 360 came out yesterday. This month feels a little bit to me like the calm before the storm. There is a lot of exciting stuff going on, but it’s all building towards the release of smart contracts still 2-3 months away.
Updates covered a broad set of topics including Peer-to-Peer progress, collaboration with Orion, Project Catalyst updates, NFT updates including a partnership between IOHK, Woflram and COTI to create NFT auction capabilities.
Registration for the Cardano Summit 2021 is open! I remember the Cardano Virtual Summit 2020 like it was yesterday. Do not miss out on this event!
Technical Analysis / Price Discussion
I’ve been talking about this channel for a while now. We’re on the verge of breaking out of it. I think odds are good we punch through now and test the 50D EMA in orange. Perhaps retest the 100D in blue and then look to punch through the 50D EMA.
On the other hand, the channel could hold as resistance and we could test the midline of the channel again where the neckline of the head and shoulders and 200D EMA (not shown) remain. I see this as the less likely scenario.
Cardano ADA continues to look consistently strong. It is commonly leading other cryptos on a daily basis, including Bitcoin. ADA led crypto in other waves of this bull run and I wouldn’t be surprised to see it lead in another.
Will we break out of the channel today? 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.