Author: The Daily Hodl
A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on a memecoin that has gone up more than twenty-fold since early March. The trader pseudonymous known as Crypto Dog tells his 775,500 followers on the social media platform X that the memecoin Jeo Boden (BODEN) is on the cusp of breaking out after a period of consolidation. Based on the Crypto Dog’s chart, it appears that BODEN is testing a downward-sloping resistance level on the daily chart. BODEN is trading at $0.639 at time of writing, up by around 2,466% from the all-time of $0.0249 reached on March…
The CEO of Bitcoin’s Lightning Network wallet Strike Jack Mallers is predicting that the flagship crypto asset could reach a seven-figure price during the current cycle. Mallers says in an appearance on the David Lin YouTube channel that efforts to save the bond market could lead to a looser monetary policy, consequently triggering Bitcoin (BTC) to appreciate by between 297% and 1,486% from the current level. “The bond market is in trouble for really arguably the first time in modern financial history. Bondholders are getting absolutely demolished and crushed. Now who owns bonds? All of our banks. So our bank…
Ex-Goldman Sachs executive Raoul Pal says the altcoin market cap is on the verge of soaring to new all-time highs (ATHs). In a new video update, the Real Vision CEO says that the digital assets market could enter “crypto summer” within a month, when Ethereum (ETH), Solana (SOL) and other alts could have massive rallies. A “crypto summer” generally means increased prices, higher trading volume, bullish market sentiment, more network development and wider adoption. “It’s very normal for crypto spring for Bitcoin to outperform and then as we come into crypto summer that we’re transitioning into now ETH starts to…
Spot market crypto exchange-traded funds (ETFs) are reportedly set to launch in Hong Kong as soon as next week. According to a new report by Reuters, the three asset managers who are providing the products say that Bitcoin (BTC) and Ethereum (ETH) ETFs should start trading by April 30th as they have already received regulatory approval from the Securities and Futures Commission (SFC). The report says the companies providing the ETFs will be the Hong Kong branches of China Asset Management, Harvest Fund Management and Bosera Asset Management. The trio of companies originally received approval by Hong Kong’s financial regulatory authority…
New crypto whales are buying up Bitcoin (BTC) at a faster rate than longer-term holders, according to the chief executive of the blockchain analytics platform CryptoQuant. Ki Young Ju tells his 343,900 followers on the social media platform X that the new whales’ initial investment in Bitcoin is almost twice the old whales’ cumulative total. The analytics platform executive defines “new,” short-term holder whales as addresses with at least 1,000 Bitcoin with an average coin age of less than 155 days. “Old,” long-term holder whales hold at least 1,000 Bitcoin with an average coin age of 155 days or more.…
As Bitcoin (BTC) cools down from its latest rally, one widely followed crypto analyst says the king crypto’s dominance has peaked… for now. Crypto trader Michaël van de Poppe tells his 713,900 followers on the social media platform X that his BTC market dominance charts indicate that altcoins may soon be on the rise. “To me, the Bitcoin dominance has peaked and there’s a significant chance that we’ll rotate back to altcoins in the coming period. It’s a quiet vacuum currently, which we’ll need to break through with a potential momentum surrounding the ETH ETF (Ethereum exchange-traded fund) in May.” Financial giants…
A Solana-based (SOL) meme asset has nearly doubled up just days after its community overwhelmingly passed a resolution to burn its supply. In a new announcement on the social media platform X, the decentralized autonomous organization (DAO) for memecoin Bonk (BONK) says it has voted to reduce the token’s supply by billions. “The BONK DAO community proposal to BURN 278,393,137,215 billion BONK has passed via council vote… The community vote ended with 418,625,159,192 votes in favor which represented a 99.9% support of the proposal.” In the original proposal, which was released on April 17th, BONK DAO said that by burning…
Solana (SOL) decentralized exchange (DEX) aggregator Jupiter has just acquired the decentralized finance (DeFi) wallet Ultimate Wallet amid plans to launch a zero-fee mobile trading platform in May. In a series of posts on social media platform X, Jupiter says the acquisition is part of a strategy to get more people into crypto. The plan is to leverage Ultimate’s technology and team to turbocharge Jupiter Mobile. “When you want to build the best products, you need the best starting point. That’s why we’re thrilled to say that we have acquired Ultimate Wallet. Jupiter Mobile is a key part of our…
The founders of the analytics platform Glassnode say one key indicator is suddenly flashing bullish again for Bitcoin (BTC). Glassnode co-founders Jan Happel and Yann Allemann, who share the Negentropic handle on the social media platform X, say an indicator that predicted Bitcoin’s massive rally to kick off the year may now be signaling another big move to the upside is imminent. “MACD (moving average convergence divergence) crossover sets Bitcoin up for the next strong move higher. In January 2024, BTC put in a low. It rallied out of a descending wedge and MACD gave us bullish cross-over. On April…
BitMEX founder Arthur Hayes thinks excessive money printing in the lead-up to November’s US presidential election will drive a surge in Bitcoin (BTC) and crypto prices. In a new analysis, Hayes argues that major global economic blocs including the US, China, the European Union (EU) and Japan are debasing their currencies to deleverage their balance sheets. “As we exit the window of weakness that I forecasted would occur due to April 15th US tax payments and the Bitcoin halving, I want to remind readers why the bull market will continue and prices will get sillier on the upside. Rarely in…