Author: The Daily Hodl
Widely followed crypto analyst Criptopaul says he thinks a “parabolic” phase is coming to digital assets markets, specifically to altcoins. The trader shares in his Telegram channel a Bitcoin (BTC) chart overlayed with CRYPTOCAP, which measures the value of all assets in the crypto ecosystem excluding BTC. Criptopaul notes how in late 2020, Bitcoin reached its all-time high slightly before altcoins started going parabolic. According to the analyst, a similar pattern may be in play today, with altcoins potentially getting ready to explode following Bitcoin’s recent touch of new all-time highs (ATHs). “Remember that. We are really in this stage.”…
A top analyst known for making timely crypto calls warns that Bitcoin (BTC) may be in the midst of witnessing a painful scenario. Pseudonymous trader Bluntz tells his 254,100 followers on the social media platform X that Bitcoin appears to be flashing an ABC corrective move on the daily chart. Bluntz practices the Elliott Wave theory, which states that a bullish asset typically consolidates within an ABC corrective wave after going through a five-wave uptrend. Says Bluntz, “Max pain on BTC is take out the highs, make everyone FOMO (fear of missing out) back in and think it’s some kind…
Thomas Jordan, chairman of the Swiss National Bank (SNB), reportedly believes that the risks of a retail central bank digital currency (CBDC) outweigh the benefits. While speaking at an event in Zurich, Jordan said the SNB doesn’t think there is a need to roll out a CBDC to the public right now, Reuters reports. “Consumers and businesses already have access to a wide range of efficient and innovative payment instruments offered by the private sector. Retail CBDC could fundamentally alter the current monetary system and the role of central banks and commercial banks, with far-reaching consequences for the financial system.”…
One Solana (SOL)-based altcoin is soaring after landing a surprise listing on Coinbase, the top crypto exchange in the US. In an announcement via the social media platform X, Coinbase says it’s adding Shadow Token (SHDW) to its trading platform. Shadow Token is expected to be available on the platform starting Wednesday, at noon Eastern Standard Time. Amid the listing news on Tuesday, Shadow Token shot up from the day’s low of $1.83 to a high of $2.17, a gain of more than 18%. Shadow Token has since retraced slightly, trading at $1.95 at time of writing, up 7% in…
A Nigerian federal high court has ordered a senior Binance executive to be remanded for over a week at a prison in Abuja, the country’s capital, according to a Premium Times report. The federal high court reportedly issued the order after the head of financial crime compliance at Binance, Tigran Gambaryan, was arraigned on five counts of money laundering. The Binance executive pleaded not guilty. Gambaryan’s bail hearing is scheduled for April 18th, according to the report. Late last month, Nigeria’s Economic and Financial Crimes Commission (EFCC) leveled various charges against Binance, Gambaryan and his colleague Nadeem Anjarwalla, the regional…
The founder and CEO of Galaxy Digital believes looming rate cuts by the Fed are bullish for Bitcoin (BTC) and precious metals. Billionaire Mike Novogratz tells his 466,200 followers on the social media platform X that rate cuts may be bad for the US economy, but good for Bitcoin. He suggests rate cuts will increase liquidity, boosting Bitcoin, and that more investors will view the crypto king as a safe store of value in uncertain economic times. “Call me crazy but I don’t see one good reason for the Fed to cut rates. Yet think they will. It’s a great…
Contrary to popular opinion, BitMEX founder Arthur Hayes thinks the upcoming Bitcoin (BTC) will temporarily dampen the crypto market’s momentum. In a new analysis, Hayes argues that the macro setup is actually favorable for traders interested in shorting the crypto market. However, he notes that he doesn’t plan to short the market himself, just abstaining from trading until next month. “The Bitcoin block reward is forecast to halve on April 20th. This is seen as a bullish catalyst for crypto markets. I agree that it will pump prices in the medium term; however, the price action directly before and after…
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…