Author: The Daily Hodl
A popular analyst says crypto market participants are overlooking a payments-focused altcoin that has been performing well over the past few months. The crypto strategist pseudonymously known as Altcoin Sherpa tells his 236,400 followers on the social media platform X that he believes XRP will print record highs before the market cycle comes to a close. But for now, the trader uses Fibonacci retracement levels to map out a decent support area for XRP bulls. “XRP will continue to be under-owned and slept on by crypto natives. I still think $2 is a reasonable buy and that this will break…
A crypto strategist known for making timely Bitcoin and altcoin calls is outlining a potential path for BTC to end the current bull market with a bang. Pseudonymous analyst Credible Crypto tells his 65,900 YouTube subscribers that Bitcoin appears to be in the fifth and final leg of its secular bull market that began about six years ago. The trader practices the Elliott Wave theory, which states that a bullish asset tends to witness five-wave rallies with wave five acting as the final leg up prior to a correction. According to Credible, Bitcoin could witness a parabolic surge in the…
A co-founder of Ethereum (ETH) rival Solana (SOL) is reportedly facing a lawsuit for allegedly misappropriating the income earned from his former wife’s crypto holdings. Bloomberg reports that Elisa Rossi has filed a complaint with the San Francisco Superior Court accusing her ex-husband Stephen Akridge of stealing millions of dollars worth of staking rewards gained from her Solana tokens. Staking rewards are similar to interest earned from a bank deposit. Crypto holders who participate in the staking process lock their assets for a certain period to validate blockchain transactions and earn more tokens as a reward. The complaint says the…
A closely followed crypto analyst is predicting where the price of Bitcoin (BTC) and Solana (SOL) will peak during the current market cycle. In a new video update, the host of InvestAnswers tells his 552,000 YouTube subscribers that he’s expecting the top crypto asset by market cap to soar by at least 43% from current levels before the bull market expires. “I’ve upped my Bitcoin price target to $136,000 from $120,000 with a super bull target of $154,000… Bitcoin is a peculiar animal – it’s all based on demand and supply. If the demand continues as it does, yes, these…
Macro guru Raoul Pal says that despite XRP looking very strong, one Solana (SOL) killer is set to outperform it. In a new strategy session, Pal takes a look at Sui against XRP (SUI/XRP) and suggests that the trading pair is in a long-term ascending channel and has already touched the bottom range, implying that a move to the upper level is now in play. “Another interesting chart that I quite like is XRP [which] has been super strong, but really, what we’ve seen is the upward trend of SUI outperformance. We hit the bottom of the trend channel and…
Investing veteran Tom Lee believes the US stock market will see greater heights next year propelled by a number of tailwinds. In a new CNBC interview, the Fundstrat co-founder and managing partner says the current macroeconomic backdrop will sustain stock market rallies next year. Lee also says he sees investors waiting on the wings to start piling into the S&P 500 in 2025. “I think there [are] a lot more tailwinds building for markets in 2025 than have existed in 2024 mainly because now we’re not worrying about the Fed worrying about inflation and bringing a halt to the economy.…
BitGo CEO Mike Belshe says that he’s anticipating the tailwinds spurring crypto assets in 2024 will likely continue into 2025. In a new CNBC interview, Belshe says that despite the crypto industry already being bullish on the new pro-crypto administration arriving in Washington D.C., it’s possible that the new regulatory environment hasn’t been completely priced in yet. “I think the regulatory is somewhat priced in but in general we’ve seen that these news events don’t always price in until they’re actually here. So look, we have a new administration coming in, things look very promising, people are very excited, they’re…
A popular crypto analyst says one technical signal suggests that top meme token Dogecoin (DOGE) could be primed for a bounce. Ali Martinez tells his 104,600 followers on the social media platform X that the Tom DeMark (TD) Sequential Indicator presented a bullish signal for DOGE. “The TD Sequential presents a buy signal on the Dogecoin DOGE four-hour chart, anticipating a price rebound!” Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their 13 previous bars or candles. Martinez also notes that Dogecoin whales bought more than 90 million DOGE…
Analytics firm Glassnode says Solana’s (SOL) momentum on the monthly time frame is waning in comparison to Bitcoin (BTC) and Ethereum (ETH). On the social media platform X, Glassnode examines the Realized Cap metric, which records the price at which each coin was last moved and aims to gauge how many holders are in profit or at a loss. The firm points out the monthly percent change in realized cap for each of the three assets. “This metric acts as an indicator of the rate and direction of capital inflows or outflows for these assets. During the recent market downtrend,…
The Ethereum (ETH)-based virtual reality platform Decentraland (MANA) continues to clock more development activity than any other non-fungible token (NFT) project, according to the crypto analytics firm Santiment. Santiment notes on the social media platform X that Decentraland registered 116.27 notable GitHub events in the past 30 days. Decentraland also led the rankings in November, October, and September. Flow (FLOW), a layer-1 permissionless blockchain, ranked second with 103.87 events, while the NFT layer-2 scaling solution Immutable X (IMX) ranked a distant third with 31.43. Santiment notes that it does not count routine updates and utilizes a “better methodology” to collect…