Author: The Daily Hodl
The host of the popular YouTube channel InvestAnswers is laying out potential year-end price targets for Bitcoin as BTC struggles to find the bottom of its correction. In a new video, the analyst uses global M2 money supply – which measures the amount of money flowing throughout the financial system – to forecast potential price targets for Bitcon on the premise that newly created money supply could partially flow into BTC. InvestAnswers says that the most reasonable expectation is that about 0.5% of the newly created supply would flow into Bitcoin, which, according to his models, would bump the price…
Popular macroeconomics expert Lyn Alden believes that the current Bitcoin (BTC) correction is similar to the one witnessed in March 2024 based on one key on-chain metric. In a new interview on The Your Life! Your Terms! YouTube channel, Alden says she’s keeping a close watch on Bitcoin’s market value to realized value (MVRV) metric, an on-chain indicator that helps assess whether BTC is overvalued or undervalued by comparing its market cap (market value) to the average price at which all coins were last moved (realized value). The macro guru explains that during the initial stages of a bull market,…
A memecoin creator notorious for being involved with several controversial projects is continuing to dump his coins even after a 95% drop. New data from the blockchain tracking firm Bubblemaps is shedding light on on-chain activity of Hayden Davis, who admitted to having a role in both Libra (LIBRA), a memecoin originally backed by Argentinian President Javier Milei before he quickly disavowed it, and Melania Meme (MELANIA), a coin inspired by Melania Trump. MELANIA began a steep descent the very day it was launched in January and is now down 95.3%. Says Bubblemaps, “Hayden Davis is STILL selling MELANIA He…
An analyst who accurately called the 2022 crypto meltdown is warning that Bitcoin (BTC) and Solana (SOL) are likely to print new lows this year. Starting with Bitcoin, pseudonymous trader Capo tells his 121,564 subscribers on the instant messaging platform Telegram that he sees BTC initially rallying to as high as $100,000 to set a bull trap. A bull trap is a false signal, luring traders into thinking that an asset is bullish, but instead, the price abruptly reverses and drops. According to Capo, the rally will set the stage for BTC to witness a massive capitulation event en route…
Investor and venture capitalist Dan Tapiero says Bitcoin (BTC) rallies are around the corner again amid what he thinks is an alignment of several bullish macro factors. Citing a recession probability indicator from the market analysis firm Bravos Research, Tapiero says that the Federal Reserve will likely add new liquidity and lower interest rates in order to stimulate the economy. According to the investor, the loose monetary environment will trigger new Bitcoin rallies. “Unlikely recession coming given Fed has room to cut interest rates – 400 basis points possible to 0 if needed… But this indicator has never been higher…
Seasoned trader Peter Brandt is warning that the payments altcoin XRP is at risk of going through a massive capitulation event. The legendary trader tells his 781,500 followers on the social media platform X that XRP is forming a head-and-shoulders (H&S) pattern on the daily chart. An H&S structure is a bearish pattern indicating that an asset has lost momentum to sustain its uptrend after failing to print new highs. According to Brandt, the bearish structure will be invalidated if XRP climbs above a key resistance level. Otherwise, he says XRP is in danger of breaking support at $1.90 and…
The head of research of market intelligence firm Fundstrat says that the odds of a V-shaped recovery for the stock market in April are overwhelmingly high. In a new interview with CNBC Television, Tom Lee says that based on historical patterns, the stock market could mount a recovery in early April. “The spike in the VIX (volatility index) or the collapse in investor sentiment or consumer confidence, that all happened around February 2018, so really that coincided with the first low that was made in 2018, and the market began to stage its recovery… But as we start to think…
Former Goldman Sachs executive Raoul Pal believes that it’s almost time for Bitcoin (BTC) to ignite the next phase of its uptrend. Pal tells his 1.1 million followers on the social media platform X that Bitcoin tends to follow the global liquidity cycle but with a 10-week lag. The macro guru shares a chart suggesting that global M2, or the total money supply across the world, has sharply risen after carving a bottom in late 2024. Based on the data, Pal predicts that Bitcoin will soon end its correction and begin sparking fresh rallies. “The waiting game is almost over…the…
Digital asset management giant Grayscale hopes to launch an Avalanche (AVAX) exchange-traded fund (ETF) in the US. The Nasdaq Stock Market submitted a proposal this week to the U.S. Securities and Exchange Commission (SEC) to list and trade shares of Grayscale Avalanche Trust, which would be entirely tied to the price of the layer-1 project’s native asset, AVAX. Grayscale isn’t the first financial giant to file for an Avalanche ETF. Documents submitted to the state of Delaware earlier this month suggest VanEck also hopes to launch a fund tied to the Ethereum (ETH) rival. Coinbase Custody will serve as the custodian…
Binance’s first class of memecoins chosen by traders is experiencing major volatility following their listings. Earlier this month, Binance introduced a new “Vote to List” campaign, allowing users to choose smaller projects to add to the world’s largest crypto exchange. “We now invite users to participate and vote on the first batch of Vote to List projects under the official post… on Binance Square Official. The first batch of Vote to List is exclusively for BNB Smart Chain-based tokens.” Yesterday, Binance announced the winners of the first ‘Vote to List’ campaign: memecoins Mubarak (MUBARAK), CZ’S Dog (BROCOLLI714), Tutorial (TUT) and…