Author: The Daily Hodl
A closely followed crypto strategist and trader thinks Ethereum (ETH) is gearing up to ignite big breakout rallies. Pseudonymous analyst Inmortal shares a chart with his 217,500 followers on the social media platform X suggesting that Ethereum will see one final dip before sparking a 75% surge to his target of $4,100. “Call me crazy, but I think ETH is a good SPOT trade here. Slower than SOL, but safer.” Zooming in on Ethereum, Inmortal notes that ETH has already broken out of its horizontal resistance on the low time frame. “ETH showing the way. Classic consolidation below resistance +…
A widely followed crypto analyst is issuing a warning that Ethereum (ETH) may collapse in value in sync with Fed rate cuts. In a new video update, crypto strategist Benjamin Cowen tells his 818,000 YouTube subscribers that ETH may follow a similar 2019 pattern and plummet to the lower bound of the logarithmic regression band putting the top altcoin at around $1,000. According to the analyst, the logarithmic regression band is designed to track the fair value of an asset using “non-bubble data.” “The reason I compare 2024 to 2019 is because if you look at the rate hiking cycle,…
Popular crypto analyst Jason Pizzino says traders shouldn’t necessarily expect Bitcoin (BTC) to witness a significant pullback before its next leg up. In a new YouTube video, Pizzino tells his 335,000 subscribers that every time people expect a “final flush out” of weak hands before the BTC market explodes, Bitcoin tends to do the opposite. Referencing Bitcoin’s past half-year climb to an all-time high this March, the analyst estimates that Bitcoin’s current upward move could also last six months in total. Since it started last month, Pizzino says that means BTC could top out in February. In the past upward…
The foundation behind Avalanche (AVAX) is partnering with payments giant Visa for a new crypto spending card product. In a new announcement, The Avalanche Foundation introduces the Avalanche Card, a new card that allows users to pay with crypto at Visa-accepting locations. “Introducing the Avalanche Card! Spend your WAVAX, USDC, sAVAX, and more wherever Visa is accepted. Enjoy both physical and virtual cards, 24/7 dedicated support, and seamless transactions through popular apps.“ According to the firm, the Visa card, which will be available in physical and digital formats, will support Wrapped AVAX (WAVAX), Circle’s USD-pegged stablecoin USDC, and BENQI Liquid…
TechCrunch founder Michael Arrington says payments giant Stripe has completed the acquisition of stablecoin startup Bridge. In an X post referencing a report about Stripe’s discussions to acquire Bridge, the tech publication executive says the $1.1 billion purchase of Bridge is a done deal. A Bloomberg report last week indicated that Stripe had been in talks to acquire the stablecoin firm, which offers a product that lets enterprises use stablecoins USDT and USDC to receive and send payments. The report indicated that Bridge had raised $58 million in startup funding from investors that included Sequoia and Haun Ventures, a crypto-focused…
A trader who nailed the May 2021 Bitcoin (BTC) collapse is suddenly turning bullish on Dogecoin (DOGE). Pseudonymous analyst Dave the Wave tells 146,500 followers on the social media platform X that DOGE may be forming a bullish ascending triangle on the daily timeframe. A triangle pattern is considered bullish if the asset clears a key resistance level. Says Dave the Wave, “Tell me that ain’t bullish.” Looking at his chart, the analyst appears to also suggest that DOGE is consolidating in a broader symmetrical triangle pattern and may soon break through resistance that could put the memecoin in the…
Bitcoin veteran Tuur Demeester says a new European Central Bank (ECB) paper on BTC is a “declaration of war” on the top crypto asset. In new research, the ECB claims that BTC has strayed away from the original vision of Satoshi Nakamoto, its pseudonymous creator, and now exists to extract value from latecomers and non-holders. Authors of the ECB paper urge the general public to call on politicians to pass laws that force BTC to “disappear.” Demeester, the editor-in-chief of the Bitcoin analysis firm Adamant Research, believes governmental authorities will use the ECB’s “luddite argument” to enact taxes or bans…
DeFiance Capital CEO Arthur Cheong believes that one crypto sector is meeting the needs of a market much better than all other sectors. In a new interview with Alex Thorn, an executive at crypto financial services firm Galaxy Digital, Cheong says that decentralized finance (DeFi) continues to prove itself as the crypto sector with “the biggest product-market fit.” “Over the past few years, there was a lot of disillusion, because there were a lot of hacks and a lot of business utilization and metrics were non-sustainable after the incentive runs out. But we’ve seen some protocols able to maintain the…
A trader who rode the 2023 crypto breakout believes Bitcoin (BTC) is now poised to soar to as high as $100,000. In a new video update, pseudonymous analyst DonAlt tells his 62,400 YouTube subscribers that Bitcoin looks set to end its multi-month consolidation phase that started in March. But DonAlt warns that Bitcoin will likely witness a deep corrective move after a strong breakout surge. “My base case is right now we’re going to break out and it’s going to get smacked down… We’re going to go to $80,000, $90,000 maybe $100,000 if this breaks out, and then we’re going…
Widely followed crypto analyst Michaël van de Poppe says that AAVE, the native token of the top lending platform on Ethereum (ETH), is set for bluer skies. According to Van de Poppe, AAVE is in the midst of a trend shift after its clear break of the $150 mark, which he says opens up the doors to the $250 level. “This one is a must to have in the portfolio, as I think it will outperform once DeFi picks up momentum. Clear trend switch. Staying above $110-$120 should lead towards a new push, having a target at $250.” At time…