Author: The Daily Hodl
Analyst Benjamin Cowen is leaning bullish on Bitcoin (BTC) while warning that one factor could delay the flagship crypto asset from reaching $100,000 before the end of this year. In an appearance on The David Lin Report, Cowen says that Bitcoin is primed to hit a six-figure price based on historical precedent. “If you go look at like year-to-date return on investment (ROI)… and you average out all the prior halving years, we’re actually tracking it pretty closely. So if you average out 2012, 2016 and 2020 and then you overlay 2024, right now Bitcoin is at its average of…
The popular crypto analyst PlanB believes Bitcoin (BTC) may not see a market correction until after breaking into the six-figure range due to one key metric. The pseudonymous trader tells his 2 million followers on the social media platform X that Bitcoin holders appear to be selling ahead of a possible $100,000 price target. According to the analyst, the Bitcoin profit-taking may actually mean a significant dip at the six-figure target will not occur. “Who sells Bitcoin now? Easy: sellers are profit-takers. On average November sellers sold at more than 60% profit (red) with a cost price of $55,000. I…
A closely followed crypto analyst says that one Solana (SOL) rival may be gearing up for a series of rallies. In a new strategy session, crypto trader Michaël van de Poppe tells his 737,600 followers on the social media platform X that the native token of the layer-1 blockchain Sei (SEI) could soon hit $1 if it can break out of a trading range’s upper bound at $0.52. “Very strong moves on the markets for SEI. Expecting this to break through this resistance zone, and if that’s the case, then I’m assuming we’ll see this one have a run toward…
Market analytics platform Arkham Intelligence is announcing the launch of a new spot trading exchange. In a new thread on the social media platform X, the crypto intelligence firm says it plans to start a new spot trading service in the US, launching as soon as next week. However, Arkham notes that some US users will have to wait until the platform is fully regulated. “Eligibility varies by jurisdiction. Users residing in the United States will be excluded from onboarding until onboarding is legally permitted in their country and state.” According to previous reports, Arkham first announced in October that…
A closely followed crypto strategist believes Bitcoin (BTC) may be repeating a historical pattern that could suddenly send it into the six-figure range. Analyst Ali Martinez tells his 84,100 followers on the social media platform X that Bitcoin may be gearing up for a massive breakout based on what happened in the two prior bull market cycles. “Bitcoin is mirroring the behavior of the last two bull cycles! After surpassing its previous all-time high, BTC has been consolidating for a week. If history repeats, we could see another breakout in the next day or two, targeting ~$150,000, followed by a…
One of Galaxy Digital’s top executives says that the US government may be forced to look at Bitcoin (BTC) as a potential replacement for the US dollar in the future. In a new interview with Bloomberg Television, Galaxy Digital’s head of firmwide research Alex Thorn comments on the potential for the US to launch a Bitcoin strategic reserve (BSR), saying it should be “fairly straightforward.” Thorn notes that virtually all fiat currencies have ultimately failed, making it “reasonable” for the US government to start looking at alternatives. “I don’t know if it’s going to happen, I think the game theory…
One widely followed crypto analyst says that Bitcoin (BTC) is convincingly breaking out and on track to have a series of big rallies after printing a new all-time high Wednesday of about $94,800. Pseudonymous crypto analyst Rekt Capital tells his 505,900 followers on the social media platform X that Bitcoin appears to have entered the most explosive phase of the market cycle based on historical precedence. “The BTC dip is over. The first price discovery uptrend continues.” Crypto traders and analysts refer to price discovery as a situation where a coin trades at levels never seen before or not in…
A social media company that’s majority-owned by US President-elect Donald Trump is reportedly in talks to acquire Bakkt, a crypto trading and custody firm backed by Intercontinental Exchange Inc. The Financial Times, citing “two people with knowledge of the talks,” reports that the Trump Media and Technology Group, which operates Truth Social, a microblogging platform, is in the advanced stage of talks to acquire Bakkt for an undisclosed amount in an all-stock deal. As of the market close on November 18th, Trump Media & Technology Group Corp (NASDAQ: DJT) had a market capitalization of $7.12 billion while Bakkt Holdings Inc…
A crypto strategist known for making timely altcoin calls thinks it is within the realm of possibility for XRP to his massive price target. Pseudonymous analyst Credible tells his 434,700 followers on the social media platform X that a new all-time high (ATH) for XRP against Bitcoin (XRP/BTC) is not a “matter of if but when.” But the trader highlights that the road to a new all-time high for XRP/BTC won’t come easy as the pair still needs to overcome two stiff resistance levels. “The red zone is major resistance – odds are we find some resistance there on this…
Fundstrat managing partner Tom Lee still thinks the markets have room to run following explosive gains after Donald Trump’s US presidential election victory earlier this month. Lee, who also serves as Fundstrat’s head of research, says in a new interview with CNBC that he thinks the “Trump trade is still intact” even though the stock market has pulled back in recent days. “I think most of the major indices have pulled back to what would be technically viewed by our technician Mark Newton as support. So the NASDAQ is on the support line. S&P did a 60% retrace of its…