Author: The Daily Hodl

Seasoned trader Peter Brandt says Bitcoin (BTC) is flashing a common bull market pattern that typically precedes a burst to the upside. The trader, who gained legendary status after calling the 2017 Bitcoin collapse, says BTC may soon rally to around $80,000 as it threatens to take out its short-term diagonal resistance. However, Brandt warns that BTC may witness a significant correction after the rally to follow a pattern commonly seen in Bitcoin bull markets. “This same basic pattern has been common in past bull markets in Bitcoin.”  Looking at the trader’s chart, he seems to suggest that a dump…

A top crypto strategist who’s been making timely altcoin calls as of late thinks that one Ethereum (ETH) challenger is close to printing a local bottom. Pseudonymous analyst Bluntz tells his 254,000 followers on the social media platform X that he’s bullish on Solana (SOL). According to the top trader, he sees Solana carving a bottom against Bitcoin (SOL/BTC) at around 0.0025 BTC ($179.57) before igniting fresh rallies. “SOL/BTC super close to putting in a bottom in my opinion, just needs to sweep these lows one last time on hourly to put in that five of C.”  Bluntz practices the…

A closely followed crypto trader is warning that the digital asset market may be overheated and lacking new liquidity. Pseudonymous trader The Flow Horse tells his 209,800 followers on the social media platform X that the crypto market may decline while heading into the halving event when Bitcoin (BTC) miners’ rewards are cut in half. The halving event is expected around April 20th. “Quick thoughts: the closer we get to halving the more likely I am to reduce some risk for a short period of time. Almost everyone is staring at this structure waiting for the same move, which often…

A widely followed crypto analyst is warning that the digital asset market could decline this quarter if the Fed starts cutting rates. In a new video update, crypto strategist Benjamin Cowen tells his 797,000 YouTube subscribers that if altcoins start breaking down against Bitcoin (BTC), it could indicate the start of a market correction due to recessionary pressures. “Will Bitcoin rally beyond April? Will it rally beyond the halving [event in April]? I think the answer to that question is going to be dependent on if alt/Bitcoin pairs break down. If alt/Bitcoin pairs break down in April, then I think…

A new layer-1 (L1) Ethereum Virtual Machine (EVM) compatible blockchain is raising hundreds of millions of dollars in funding. According to a new announcement from Monad Labs, the Monad blockchain, a new EVM-compatible L1, aims to increase EVM-based transactions per second (TPS). “The EVM is the ubiquitous standard of web3; over 96% of all capital in DeFi (decentralized finance) is in EVM apps. In spite of this, EVM-compatible blockchains have extremely low throughput: Ethereum supports roughly 10 transactions per second (TPS), and no EVM rollup is over 50 tps.” With $225 million in funding led by tech investment firm Paradigm, Monad…

A South Korean city is reportedly planning to seize the digital assets of more than 5,000 residents who owe back taxes. According to a new Daegu Shinmun report, the Nam-gu (south district) Office in Pohang intends to go after digital assets owned by residents who owe more than 500,000 won or $369 in taxes. Officials believe 5,208 tax delinquents appear to have digital assets on four South Korean cryptocurrency exchanges – Bithumb, Upbit, Corbit and Coinone – based on transaction data. If officials confirm a tax delinquent owns digital assets on these platforms, they will reportedly freeze the account, prohibiting…

A closely followed crypto trader is bullish on one under-the-radar layer-1 project that has lagged behind other altcoins. Pseudonymous trader and analyst Inmortal tells his 212,000 followers on the social media platform X that he’s got his eye on Constellation (DAG), a blockchain that uses Directed Acyclic Graph technology. Inmortal says that DAG’s market structure is now bullish after an accumulation phase lasting more than 400 days. “I like DAG here > +400 days accumulation> accumulation retest> Healthy market structure (consecutive HL’s [higher lows] and HH’s [higher highs]) I am a simple man, I like unpumped charts.” The trader is…

Ava Labs CEO Emin Gün Sirer believes that the masses are completely clueless about the technological innovations of crypto and blockchain. The CEO of the Avalanche (AVAX) development firm says in a new Real Vision interview that the “entire [crypto] space is incredibly undervalued.” According to Gün Sirer, cryptocurrency and blockchain technologies are far superior to the technologies used in the traditional finance system. “The space is too, too big and the functionality it brings, the new things you can do here are just too valuable. And if anybody has any experience on Wall Street with what they actually use…

Ripple chief executive Brad Garlinghouse thinks macro factors could double the overall crypto market cap by the end of 2024. Garlinghouse told CNBC recently that regulatory momentum and the newly approved spot Bitcoin (BTC) exchange-traded funds (ETFs) could drive a massive surge in crypto prices. “I’ve been around this industry for a long time, and I’ve seen these trends come and go. I’m very optimistic. I think the macro trends, the big-picture things like the ETFs, they’re driving for the first time real institutional money. You’re seeing that drives demand, and at the same time demand is increasing, and supply…

Recent developments suggest Bitcoin (BTC) could serve as more than just “digital gold,” according to a researcher at the crypto asset management giant Grayscale. In a new analysis, Grayscale’s Michael Zhao highlights Bitcoin’s surging on-chain activity. “The advent of ordinal inscriptions has revitalized on-chain activity, with over 59 million non-fungible-token-like (NFT) collectibles inscribed, generating upwards of $200 million in transaction fees for miners as of February 2024. This trend is expected to persist, bolstered by renewed developer interest and ongoing innovations on the Bitcoin blockchain.” Bitcoin ordinals enable users to inscribe digital data such as images and videos to a…