Author: The Daily Hodl
A widely followed analyst believes that Bitcoin (BTC) is gearing up for a parabolic surge despite its recent price doldrums. Pseudonymous crypto strategist TechDev tells his 447,600 followers on the social media platform X that conditions on Bitcoin’s two-month chart suggest that BTC is almost ready to witness a price explosion. The analyst predicts that BTC will rally by over 120%, similar to what happened in late 2020 when Bitcoin surged from around $13,000 to over $29,000 in just two months. “Bitcoin’s two-month candle is right on the candle body high, soon after max compression. As RSI (relative strength index)…
Ethereum (ETH) rival Solana (SOL) is seeing a “dramatic increase” in professional investor allocations this year, according to a new survey conducted by the digital assets manager CoinShares. CoinShares polled 64 investors worldwide who cover a combined $600 billion worth of assets under management. The respondents include different investor types including wealth managers, hedge funds, institutions, family offices, financial advisors and individual investors. Explains CoinShares, “Investors have been broadening their exposure to altcoins, with Solana seeing a dramatic increase in allocations. Looking through the survey responses, this is due to a few large investors allocating, carrying more weight in the…
The chairman of the Swiss National Bank (SNB) reportedly isn’t convinced it’s in his institution’s best interest to hold Bitcoin (BTC) as a reserve currency. While speaking at the central bank’s annual general meeting on Friday, Thomas Jordan argued that there are downsides to holding the top crypto asset, according to a report from Reuters. “We have not yet decided that we want to invest in Bitcoin. Actually for good reasons. Currency reserves are international payments. They have to be liquid. They have to be sustainable. And we have to be able to sell and buy them.” Cypto stakeholders have…
The chief legal officer of crypto exchange Coinbase says that Ethereum (ETH) is a commodity as decentralized finance (DeFi) firm Consensys launches a lawsuit against the U.S. Securities and Exchange Commission (SEC). In a new post, crypto lawyer Paul Grewal affirms that the top smart contract platform is a commodity rather than a security and praises Consensys for standing up to the SEC’s “unlawful expansion of authority.” “I know ETH is a commodity. You know ETH is a commodity. The CFTC (Commodities Futures Trading Commission) knows ETH is a commodity. It’s time for the SEC to admit that it still…
A widely followed crypto analyst is issuing a warning that the altcoin market is about to implode against Bitcoin (BTC). In a new video update, crypto strategist Benjamin Cowen tells his 800,000 YouTube subscribers that the TOTAL3 chart, which tracks the market capitalization of all altcoins minus Ethereum (ETH) and stablecoins, looks bearish against Bitcoin. According to Cowen, the weakness of altcoins against Bitcoin suggests that alts may witness a collapse in the coming weeks. “A majority of the altcoins are still putting in new lows on their Bitcoin pairs and to find ones that are not, you’d have to…
A closely followed crypto strategist is predicting an explosive rally later this year for one Ethereum (ETH) competitor. Pseudonymous analyst Altcoin Sherpa tells his 215,500 followers on the social media platform X that Solana (SOL) could soar 267% from its current value. “SOL: averaging into SOL is never a bad idea in my opinion. I think this goes to $500+ later this year. Anywhere from $130-$110 would be a gift (not quite expecting that yet).” Looking at the trader’s chart, the key Fibonacci levels he is watching closely for a possible retest are $138 and $116. Solana is trading for…
A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on a top-20 altcoin by market cap. The analyst pseudonymously known as Bluntz tells his 257,300 followers on the social media platform X that Ethereum (ETH) competitor NEAR Protocol (NEAR) is currently outperforming other crypto assets. “Love how NEAR just keeps plodding along making fresh highs while everything else has stalled out and continued accumulating. This is hands down a market leader right now, will definitely be one of the first to make fresh highs.” Based on Bluntz’s eight-hour chart, it appears that the pseudonymous analyst’s first target is…
A cryptocurrency analyst and trader is warning that Bitcoin (BTC) may see another move to the downside in the next two weeks. The analyst pseudonymously known as Rekt Capital tells his 74,300 YouTube subscribers that the current Bitcoin correction may be mirroring its 2016 halving price action when BTC witnessed two corrective waves: one before the halving and another after the halving. According to the analyst, the historical precedent suggests that it is within the realm of possibility for BTC to witness another pullback within weeks after the most recent halving. “If you look at these halving retraces, a small…
A popular crypto trader says a liquid staking service for the Ethereum (ETH) blockchain is flashing a short-term bullish signal. The analyst Ali Martinez tells his 60,600 followers on the social media platform X that the Tom DeMark (TD) Sequential indicator recently presented a buy signal on Lido DAO’s (LDO) 3-day chart. “If LDO can hold above $1.85, we could see it rebound toward $3!” 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. LDO is trading at $2.05 at time of writing. The 63rd-ranked…
Two US Senators are writing a bipartisan letter to federal agencies about the potential use of crypto assets by child abusers. According to a new press release, Senator Elizabeth Warren, a Democrat from Massachusetts, and Senator Bill Cassidy, a Republican from Louisiana, say in the letter that digital assets are the “payment of choice” for explicit materials involving children. The letter was sent to both the Department of Justice (DOJ) and the Department of Homeland Security (DHS). In the letter, the Senators detail their concerns over the anonymity of crypto assets and their illegal use in such a manner. “We…