Author: The Daily Hodl
Bank of America says the $35.751 trillion national debt will rise to “unprecedented levels” in the years ahead, according to a new report. The banks’ analysts just sent a note to clients stating the US will be forced to pay increasing interest on the debt as spending once again ramps up, reports Investing.com. And although the Fed has started lowering interest rates, the bank notes lawmakers are still looking to increase spending. The mounting fiscal pressures will likely boost gold and make it an “attractive asset” to investors, say the strategists. Specifically, the bank points to IMF numbers forecasting future…
Real Vision analyst Jamie Coutts believes that one investment trend could be the catalyst that sends Bitcoin (BTC) soaring to six figures. Coutts says that increasing Bitcoin adoption among money managers could cause the flagship crypto asset to increase by more than 643% of its current value before 2030. “Every time a money manager chooses BTC over sovereign debt, it reinforces the existing debasement trend. A slight shift toward Bitcoin could drive its price above $500,000 before the decade ends.” Coutts believes that Bitcoin’s relatively strong performance during bear markets and its store-of-value properties may result in more investment portfolios…
A closely followed crypto analyst and trader believe that one red-hot Solana (SOL)-based memecoin may have even more upside potential after putting up huge gains in the last week. Pseudonymous analyst Altcoin Sherpa tells his 225,300 followers on the social media platform X that the market cap of Goatseus Maximus (GOAT) could soar more than 130% from its current value. “GOAT: $500 million [market cap] next in my opinion. Still holding a big bag of this and will consider taking a bit of profit there.” GOAT is trading for $0.2176 at time of writing, up more than 400% from its…
A widely followed analyst and trader is offering his outlook on Bitcoin (BTC) and two memecoins amid a bounce in crypto prices. The analyst pseudonymously known as Bluntz tells his 284,000 followers on the social media platform X that Bitcoin could experience a correction before trending higher. According to the pseudonymous analyst who regularly applies the Elliott Wave theory in his technical analysis, Bitcoin’s ongoing rally of over 15% from the October low of under $59,000 has occurred in a five-wave pattern. Based on the pseudonymous analyst’s chart, it appears that Bluntz is suggesting that a correction could take place…
Analyst and trader Kevin Svenson is leaning bullish on Bitcoin (BTC) amid a rally that has seen Bitcoin go up by nearly 15% over the past six days. Svenson tells his 80,000 YouTube subscribers in a new video that the Relative Strength Index (RSI) indicator, a momentum oscillator used for identifying oversold or overbought conditions, is flashing a bullish signal on the weekly time frame. “…every time you get a major weekly RSI breakout, the trend usually becomes ultra bullish… …the weekly RSI breakout led to a huge run and now Bitcoin once again has shown us that exact signal,…
BitMEX founder Arthur Hayes thinks the outbreak of war in the Middle East could actually benefit Bitcoin’s (BTC) price. In a new analysis, Hayes outlines what might happen in the crypto space if the Israel/Iran conflict escalates. The crypto veteran notes that Iranian Bitcoin miners account for up to 7% of the global hash rate. However, even if Israeli attacks destroy the crypto mining sector in the country, Hayes doesn’t think they will impact BTC’s price. “Remember when China kind of banned Bitcoin mining in mid-2021, and the hash rate quickly dropped 63%?1 The hash rate recovered to its May…
An analyst known for making timely altcoin calls thinks that a massive trend reversal is underway for an under-the-radar meme token. Pseudonymous crypto strategist Bluntz tells his 283,700 followers on the social media platform X that Book of Meme (BOME) looks bullish after breaking out of its accumulation range in a big way. “BOME daily looking like a MONSTER breakout now. Surely I won’t cop heat for talking about a $700 million market cap coin.” Based on the trader’s chart, he seems to predict that BOME will rally to $0.03, suggesting an over 220% increase from current levels. At time…
New data from Tether reveals that the number of people who have adopted the firm’s USDT is now equivalent to the entire population of the United States. In a new blog post, Tether says the largest dollar-pegged digital asset by market cap now has over 330 million users, not including those that solely use it on centralized exchange platforms such as Coinbase or Binance. “USDT has seen significant adoption, with 330 million on-chain wallets and accounts, a proxy for users, ever receiving USDT by the end of Q3 2024 – that is equivalent to the population of the USA. And…
The venture capitalist Arthur Cheong thinks the decentralized finance (DeFi) sector is in the midst of a “renaissance.” The DeFiance Capital CEO tells his 177,800 followers on the social media platform X that both internal infrastructure improvements and external macroeconomic developments are driving DeFi’s resurgence. “As global interest rates shift, risk assets like crypto, including DeFi, become more attractive to investors seeking higher returns. With the Federal Reserve implementing a 50 basis points rate cut in September, the stage is set for what may be a period of lower interest rates, similar to the environment that fueled the crypto bull…
A widely followed cryptocurrency analyst and trader believes that Bitcoin’s (BTC) transition into an explosive part of the market cycle is near. In a video update, pseudonymous analyst Rekt Capital tells his 91,200 YouTube subscribers that Bitcoin is following a similar path to previous bull runs, including the lengthy consolidation around the halving. “We’ve seen retracement, we’ve seen consolidation, everything in between, and it’s slowly becoming time for price to essentially transition into its next phase of the cycle, which is essentially parabolic price action towards the upside.” The analyst says that once Bitcoin enters the “parabolic phase,” the flagship…