Author: The Daily Hodl
A closely followed crypto analyst says it’s time for altcoins to rally and predicts that one blue-chip memecoin will be a major beneficiary. Pseudonymous analyst Rekt Capital tells his 461,000 followers on the social media platform X that the OTHERS chart, which tracks the market cap of all cryptocurrencies excluding the 10 largest digital assets, is potentially gearing up for a bounce off the $250 billion level. Based on his chart, the analyst appears to be initially targeting the $315 billion level before an eventual run to the old highs near $425 billion. “Altcoin Market Cap is still holding the…
Economist Henrik Zeberg says that a loss of strength for the dollar could be the catalyst that breathes new life into crypto assets. Zeberg tells his 136,000 followers on the social media platform X that lower bond yields and a weakening dollar index (DXY), which pits the dollar against a basket of other major foreign currencies, will create an “amazing environment” for risk assets like crypto. To ride the crypto rally, Zeberg says he has his eye on JasmyCoin (JASMY), a blockchain-based personal data storage project. “I think a push lower in DXY and yields will create an amazing environment for…
A crypto analyst who caught the 2022 Bitcoin bottom thinks BTC is close to witnessing a best-case scenario following mostly bearish price action last month. In a new strategy session, pseudonymous analyst DonAlt tells his 59,200 YouTube subscribers that Bitcoin looks strong after losing $60,000 earlier this month only to recover the key level a few days later. According to the analyst, the false downside move is a catalyst that could trigger a burst to the upside for BTC. “That’s just a chad setup. I love those. Almost all the time when I get them where the daily time frame…
An analyst who continues to build a following with timely crypto calls says he has his radar locked on three altcoins. Pseudonymous trader The Crypto Dog tells his 776,300 followers on the social media platform X that he’s bullish on an Ethereum (ETH) challenger and a pair of memecoins as the digital asset market bounces. “Seems NEAR, WIF and PEPE are my golden tickets right now.” On Near (NEAR), the crypto analyst says that he unloaded some of his Bitcoin (BTC) and Ethereum holdings to accumulate the ETH rival. “You might have seen me try NEAR long last month. Didn’t…
The chief executive of blockchain intelligence platform CryptoQuant says that Bitcoin (BTC) whales have snapped up nearly $3 billion worth of the crypto king in just 24 hours. CryptoQuant CEO Ki Young Ju tells his 345,000 followers on the social media platform X that the deep-pocketed investors have gobbled up tens of thousands of BTC in just one day, signaling the approach of a new era. “Bitcoin whales accumulated 47,000 BTC in the past 24 hours. We’re entering a new era.” To get these results, Ju used CryptoQuant search filters to find whales of the top crypto asset by market…
A subsidiary of US-based crypto exchange Kraken is reportedly greatly benefiting from the success of the spot Bitcoin (BTC) exchange-traded fund (ETF) boom. According to a new report by Bloomberg, CF Benchmarks – a London-based subsidiary of Kraken that provides reference data for about $24 billion in crypto ETFs – is emerging as an under-the-radar beneficiary to the launch of the BTC ETFs. A benchmark is a standard used for comparative purposes when assessing the performance of assets or a portfolio. According to Bloomberg, CF Benchmarks licenses its benchmarks to Bitcoin ETF issuers including BlackRock in exchange for fees that…
The CEO of US-based crypto exchange Coinbase is optimistic that layer-2 scaling solutions will transform the crypto economy. Speaking at Coinbase’s first-quarter earnings call, Brian Armstrong says he sees layer-2 scaling solutions facilitating the explosion of crypto use cases with lower fees and faster transaction times. “As a reminder, layer 2 solutions help blockchains scale, similar to when the Internet moved from dial-up to broadband. And we believe this scaling will drive many new use cases in the crypto economy.” The CEO goes on to put the spotlight on Base, Coinbase’s Ethereum (ETH) layer-2 designed to onboard billions of users into web3.…
A widely followed crypto analyst is laying out his bull market price target for Bitcoin, saying BTC is beginning to mirror its previous cycle. Pseudonymous analyst TechDev shares with his 448,000 followers on the social media platform X a chart that compares Bitcoin’s current market cycle to that of 2020-2021. Using Elliott Wave theory, which traditionally suggests that an asset goes through bullish impulses in five main waves, TechDev speculates that BTC is going through a final bullish move that will take it near the six-figure range later this year. “The impulsive structure of the last 1.5 years says $90,000-$100,000…
Popular analyst Michaël van de Poppe believes that crypto is gearing up for a marketwide rally amid signs of slowing economic activity. Van de Poppe tells his 716,300 followers on the social media platform X he’s bullish on crypto after the US labor market missed estimates in April. With unemployment rising to 3.9% and average hourly earnings growing less than expected, the analyst believes that the Fed will be forced to turn on the money printers to support the job market. “Terrible economic data -> DXY (US dollar index) down, additionally the case for QE (quantitative easing) and rate cuts…
Prominent on-chain analyst Checkmate is updating his outlook on Bitcoin’s (BTC) current market cycle and says that a parabolic move to the upside is likely in sight. The pseudonymous analyst tells his 90,000 followers on the social media platform X that based on previous cycles, Bitcoin is most likely in for about six months of “chopsolidation” – or a choppy period of consolidation with no real trend shift. After six months, Checkmate says that six months to a year’s worth of parabolic moves could be in store, based on historical precedence. “Bitcoin history tends to rhyme, and thus far, this…