Author: The Daily Hodl
A widely followed crypto analyst says that Bitcoin (BTC) is gearing up for a new vertical leg as it mirrors past movements of a major stock index. The pseudonymous analyst known as TechDev tells his 473,000 followers on the social media platform X that Bitcoin could enter into a bull market that many won’t be able to catch. While most crypto market participants view BTC price in terms of four-year halving-based cycles, TechDev suggests that Bitcoin could be in the early innings of an eight-year-long bull run. He shares a chart showing similarities in price surges between Bitcoin and the…
Real Vision analyst Jamie Coutts says that Solana (SOL) is likely preparing for its next leg up to higher prices. In a post on the social media platform X, Coutts says SOL has been “coiling” within a large triangle pattern over the last six months, and that a break through resistance will trigger a volatile move to the upside. While the price of SOL has been consolidating – both against USD and Bitcoin (BTC) – Coutts says that most on-chain metrics have also been improving. “The coiling price action over the past six months has seen notable increases in active…
A widely followed crypto analyst is issuing a Bitcoin warning after BTC‘s failed breakout and dip to the $66,000 range early Monday. In a new video update, crypto strategist Benjamin Cowen tells his 818,000 YouTube subscribers that Bitcoin is showing similarities to a 2019 correction. “If Bitcoin does start to fade, if it can’t break through this [resistance around $70,000], if it starts to fade, then it’ll start to show more of those 2019 similarities… The thing that hasn’t necessarily run its course is that when Bitcoin broke out [in 2019], we had already had 75 basis points of rate…
Digital assets manager CoinShares says that institutional crypto investors dropped billions of dollars into crypto products last week. In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment products saw a surge in inflows to the tune of $2.2 billion on net last week. With last week marking the heaviest inflows in four months, CoinShares attributes the growth to what it interprets as growing optimism for a victory for Republican presidential candidate Donald Trump. Not all recent national polls reflect CoinShares’ view on the matter as Democratic nominee Kamala Harris still holds a lead in many of them. “Digital…
The European Central Bank (ECB) is asking the public to advocate for laws against Bitcoin (BTC), claiming that every time the crypto king rallies, it financially drains the rest of society. In a new research paper, the ECB says that the top crypto asset by market cap has strayed away from the original vision of Satoshi Nakamoto, its mysterious pseudonymous creator, which was to give the world a superior way of making digital payments. “The original promise of Nakamoto (2008) to provide the world with a better global means of payment has not materialized. Instead, the focus has increasingly shifted…
Ex-Goldman Sachs executive Raoul Pal says that the non-fungible token (NFT) sector is still relevant and due for a big resurgence. In a post on the social media platform X, Pal says NFT technology is “profound,” and he sees the crypto sector mounting a comeback in many forms. “NFTs aren’t dead. The technology is profound. They will be back in a multitude of formats with art being the first true PMF (product market fit) but many more will follow. An over-the-counter derivative or private loan for example are perfect use cases for NFTs, as are tickets, amongst a few examples.”…
A crypto veteran who has earned the “Master Trader” rank on the digital asset exchange Bybit is mapping a bullish path forward for top memecoin Dogecoin (DOGE). Pseudonymous analyst Bluntz tells his 285,600 followers on the social media platform X that DOGE looks strong on all time frames. The trader shares a chart suggesting that DOGE has taken out a diagonal resistance that had persisted for about six months. “Looks to me like DOGE is sucking liquidity out of the entire meme ecosystem right now. Nothing looks as bullish to me as DOGE does on all the timeframes. DOGE used…
A blockchain tracking firm says a crypto trader known for accurately calling tops and bottoms has caused a massive correction for MAGA (TRUMP), a memecoin inspired by presidential nominee Donald Trump. The pseudonymous trader known as Gigantic Rebirth (GCR) reportedly sent over half of his TRUMP stack to crypto exchange MEXC, presumably to sell on the open market, according to Lookonchain. “Legendary trader GCR (GiganticRebirth) deposited 466,000 TRUMP ($2.4 million) to MEXC, causing the price to drop by 10%. GCR spent 703,000 USDT to buy 936,000 TRUMP at $0.75 from Dec 9th, 2023 to Jan 19th, 2024. He currently holds…
The co-founders of the crypto analytics platform Glassnode believe that Bitcoin (BTC) is primed to head to uncharted territory following an extended consolidation period this year. Jan Happel and Yann Allemann, who go by the handle Negentropic, tell their 63,200 followers on the social media platform X that “the battle for $69,000 is on” for Bitcoin. The Glassnode founders share a chart suggesting that Bitcoin has already broken above its diagonal resistance that has kept BTC bearish since March. In a Swissblock report, the Glassnode executives say that the breach of resistance means Bitcoin is now open to rally to…
A widely followed crypto strategist believes one under-the-radar Ethereum (ETH) challenger will hit his massive price target this cycle. Pseudonymous trader Rager tells his 199,100 followers on the social media platform X that he’s bullish on layer-1 protocol Fantom (FTM). Rager shares a chart suggesting that FTM will hit his price target of $3.31 by around April. “Late to the market? People who say that aren’t looking at the FTM chart. And yes, in my opinion, this is a practical target for the next six months.” At time of writing, FTM is trading for $0.71, indicating an over 366% potential…