Author: The Daily Hodl
A closely followed crypto strategist believes if Dogecoin (DOGE) takes off, then another memecoin stands to benefit from the hype. Pseudonymous analyst Inmortal tells his 212,500 followers on the social media platform X that Floki (FLOKI) is poised to have a breakout on April 20th, dubbed “DOGE Day” by the memecoin’s supporters. “Will pump DOGE on 4/20? If yes, FLOKI will follow. Confirmation above 0.00016.” Looking at the analyst’s chart, he suggests a FLOKI breakout would be confirmed if it flips the $0.00016 level into support. FLOKI is trading for $0.0001385 at time of writing, up nearly 2% in the last…
A cryptocurrency analyst and trader is issuing a warning on Bitcoin (BTC) amid a significant market correction. The analyst pseudonymously known as Rekt Capital tells his 73,400 YouTube subscribers that Bitcoin is currently experiencing a correction which typically occurs ahead of the halving. “So we’ve been talking about this danger zone for a while and we’ve seen retracement in that danger zone. And, in fact, we are in the thick of this danger zone, we’ve been in this danger zone for a month or so. And we’ve already seen two pre-halving retraces.” According to the pseudonymous analyst, going by previous…
A crypto investment firm backed by financial giant Citadel Securities is reportedly eyeing a $1 billion valuation after launching its latest round of fundraising. According to a new Bloomberg report, anonymous people familiar with the matter say that Hidden Road Partners, a startup prime brokerage focused on digital assets, is raising funds in a Series B equity round that will bring its overall valuation to nearly $1 billion. Per Bloomberg, Hidden Road, which began in 2018 and completed a $50 million fundraising round in 2022, also provides services for other asset markets, such as precious metals and foreign exchange. The…
A widely followed crypto analyst and trader is expressing bullish sentiment on a Solana (SOL) competitor while offering his forecast on three altcoins. Starting with Sei (SEI), the analyst pseudonymously known as Altcoin Sherpa tells his 215,200 followers on the social media platform X that the native token of the layer-1 blockchain “could be a decent trade” as it sits at a pivotal area. Based on the analyst’s chart, SEI is resting on the 0.618 Fibonacci retracement level and slightly below the 200 exponential moving average (EMA) on the daily chart. The Fibonacci retracement levels are based on Fibonacci numbers…
SkyBridge Capital founder Anthony Scaramucci says Bitcoin (BTC) is on track to soar more than 200% within 12 months. In a new interview on CNBC Squawk Box, the hedge fund veteran says that the expected continual adoption of Bitcoin will keep driving the value higher and reduce price volatility. “I wish I could understand the price moves myself. Where I’m coming from is a little bit of longer-term as opposed to just the week-to-week or day-to-day price movements. I think the point I’m trying to make is that Bitcoin is on that adoption curve. If you go back to Web…
A widely followed crypto strategist is warning about the altcoin market as projects like Chainlink (LINK) correct. Pseudonymous analyst Altcoin Sherpa tells his 214,900 followers on the social media platform X that most altcoins may enter a months-long consolidation phase. “It’s quite possible that altcoins are done for the next one to four months. There are certainly going to be outliers, but I think that the majority need time to chill out and consolidate after such a big run.” The analyst says that Chainlink, a provider of decentralized oracle services for smart contracts, is illustrative of other alts. LINK is…
Stablecoin issuer Tether (USDT) says it’s branching out and advancing beyond just offering dollar-pegged crypto assets. In a new announcement, Tether says that it is adding four new divisions to its business model – data, finance, power, and education – as a means of creating an inclusive, future-proof financial and tech ecosystem. “Tether’s expansion beyond its well-established USDT stablecoin signifies a paradigm shift in its approach to financial empowerment. By focusing on sustainable solutions adaptive to the needs of individuals, communities, cities and countries, responsible Bitcoin mining, artificial intelligence infrastructure and decentralized communication platforms, Tether is actively contributing to a…
A crypto whale that bought $151.42 million in Ethereum (ETH) near its market cycle bottom in September 2022 appears to be taking some profits, according to the digital asset tracker Lookonchain. Lookonchain notes that the whale withdrew 96,638 ETH from Coinbase at an average price of $1,567 between September 3rd and Sept 7th, 2022. In early March, the trader deposited 15,000 ETH worth around $57.3 million to Kraken, and on Tuesday, they sent another 5,000 ETH worth $15.4 million to the exchange. The whale still holds 76,638 ETH worth roughly $230.5 million. Between realized and unrealized gains, the trader has…
One widely followed crypto trader is breaking down Bitcoin (BTC) after a 9% crash over the last week. Pseudonymous crypto analyst Rekt Capital tells his 452,800 followers on the social media platform X that BTC’s current re-accumulation phase may fool some traders into thinking it’s a Bitcoin breakdown. “One of the key things to note about Bitcoin’s Re-Accumulation Ranges throughout this cycle is this: Downside wicks below the Range Lows tend to occur to trick investors into a fake breakdown (black circles) before resuming into an uptrend.” Bitcoin is rapidly approaching the halving, a quadrennial event where BTC mining rewards are slashed…
A computer scientist who claims to be the pseudonymous creator of Bitcoin (BTC) is dropping his lawsuit against Bitcoin developers. According to a new post by the Bitcoin Legal Defense Fund, Craig Wright, who for years proclaimed to be Satoshi Nakamoto, is dropping his case against the 12 Bitcoin developers and others he sued in the UK. Last month, a judge ruled that there is overwhelming evidence that Wright is not actually Satoshi nor is he the author of the Bitcoin White Paper, the original thesis behind the digital asset, paving the way for Wright to drop his current lawsuit.…