Cardano Dan's Newsletter - Issue #76
Invest in Knowledge
Quote of the Day
“An investment in knowledge pays the best interest.”
― Benjamin Franklin
Most of my successful investments have directly resulted from hard work and time I’ve put into learning about something or gaining knowledge in general.
The process of investing in knowledge eventually led to Cardano. The great thing is, it didn’t stop there.
Cardano is connected to endless learning opportunities. I’m convinced that investing in knowledge in areas connected to Cardano will continue reaping big rewards for years to come.
Artificial intelligence, decentralized finance, supply chains, non-fungible tokens, video games, and much much more. Find something you’re passionate about and get to learning! Your future investments will thank you.
In The News
Alonzo white invitations are spreading throughout the Cardano community. I expect an announcement of its launch any day.
The original plan laid out in the May Cardano360 update is shown below. The roll-out may be a little behind this schedule, depending on how you divide the months on the x-axis.
Even if it is, I’m not worried. A delay measured in days is not going to make a single bit of difference.
Neiman Marcus in San Francisco was robbed by a group of people in broad daylight recently.
I hope that these criminals are caught and prosecuted. I’m concerned about the frequency of criminal behavior going unpunished in the United States and the world.
You don’t want to live in a place where laws lose their meaning. That is by definition, lawlessness, and it is not good.
Cardano Updates
The Cardano Foundation released a video overview of its 2021 Strategy. It’s simultaneously ambitious and achievable because it is part of a well-developed plan.
Highlights include goals to onboard 50 banks, 10 Fortune 500 companies and a billion users over time.
Registration for Fund 5 of Project Catalyst begins on July 8th! Please make sure to sign up for voting during
the registration window so that you can vote for our NFT Key proposal beginning on July 22nd!
NFT Key will provide a service to verify and track ownership of NFTs. Ownership info available via APIs will enable access to gated services.
Technical Analysis / Price Discussion
I wrote about Cardano ADA in Saturday’s newsletter:
My primary expectation is that we bounce around in a tight range between the 50D EMA and 100D EMA (maybe as low as the centerline of the bull cycle channel) and then ADA breaks through the 50D EMA.
You can see in the screenshot below, bouncing around in a tight range between the 50D EMA and 100D EMA is exactly what we’ve been doing.
I’m tracking some fractals that suggest the break upward is likely to happen in the next week or so.
Volume will signal when we break either way. As a reminder, if we lose support of the 200D EMA, we could quickly see the bottom of the bull channel that’s shown (although that is not my expectation).
Do you think ADA will break out in the next week? 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.
I think my only concern about ADA price is BTC and GBTC shares could be a temp downtrend (but might not be), regardless August should at least be really good. Oh ...regarding the video footage of those criminals, yes i agree with you completely, quite worrying!