Author: The Daily Hodl
Veteran macro investor Luke Gromen believes Bitcoin (BTC) is set to outperform gold even even if it doesn’t have the backing of the US government. In a video posted on the Forest for the Trees YouTube channel, Gromen says Bitcoin has a huge leg up against gold due to its fundamentals. But while the macro expert is more bullish on BTC, he notes that investors should consider Bitcoin’s tendency for wild price swings when allocating capital to the top crypto asset by market cap. “Support or no support from the government, I would expect Bitcoin to rise versus gold over…
A widely followed crypto analyst is unveiling his potential price target for Bitcoin’s (BTC) current market cycle peak. In a new video update, crypto strategist Jason Pizzino tells his 338,000 YouTube subscribers that Bitcoin may hit a cycle top after a 33% gain from its current value. He identifies price extension levels on the monthly timeframe from swing lows to predict Bitcoin may soon hit six figures. “The Bitcoin price target is looking towards $122,000. The reason for that are these two swings… I’m using the first swing and the second swing… Let’s start with the second swing. Projected off…
A trader who continues to grow his following with timely crypto calls is outlining a potential price path for Dogecoin’s (DOGE) rally to fresh all-time highs. Pseudonymous analyst Bluntz tells his 292,900 followers on the social media platform X that Dogecoin looks poised for a new wave of upside bursts after printing a local bottom at around $0.339. The trader shares a chart suggesting that DOGE could explode to a new all-time high of $0.85 before ending its five-wave surge. “Nothing changed, we just had a nice 23% low time frame dip I’m counting as a wave four within a…
Former Goldman Sachs executive Raoul Pal thinks one chart is a critical representation of the current crypto market. The Real Vision chief executive shares a chart with his one million followers on the social media platform X that compares the layer-1 blockchains Sui (SUI) and Solana (SOL). The macro guru shares a chart suggesting that SUI is primed to outperform SOL. “I keep staring at this chart of SUI/SOL. Probably the key chart in crypto right now to indicate the structure of the market ahead.” SUI is trading at $3.71 at time of writing. The 17th-ranked crypto asset by market…
A closely followed crypto strategist thinks layer-1 rivals Ethereum (ETH) and Solana (SOL) are gearing up for rallies to new all-time highs. Pseudonymous analyst Inmortal tells his 217,500 followers on the social media platform X that he believes Ethereum is in the midst of a brief consolidation period before rallies to new record-high levels. The trader shares a chart suggesting that Ethereum will eventually break out en route to $5,000. “Simple structure, simple trade, simple life.” Based on the trader’s chart, he seems to suggest that ETH has formed a solid base below $2,800 that now serves as the foundation…
Digital assets manager CoinShares says that institutional investors dropped over two billion 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 net inflows of $2.2 billion last week. “Digital asset investment products saw further inflows of US$2.2bn last week, raising the total inflows since interest rates were first cut in September to US$11.7bn, while year-to-date inflows at a record US$33.5bn. Inflows of US$3bn were seen in the first half of the week, although all-time-highs in the Bitcoin price spurred outflows in the latter half of…
Macro guru Raoul Pal says that he’s taking a bet on an altcoin that he thinks could outrun Solana (SOL) in the current crypto market cycle. In a new interview with Kevin Follonier on the When Shift Happens podcast, the former Goldman Sachs executive says that Solana and its ecosystem look extremely healthy, and likely a “relatively safe” place to park capital for the bull run in digital assets. However, Pal says layer-1 blockchain Sui (SUI) is showing signs that it may be ready to outrun SOL. “I’m sure [Solana] will do absolutely fine, I see nothing but success going…
One Solana (SOL)-based memecoin is going parabolic after earning sudden support from Binance, the world’s largest crypto exchange. Binance announced futures contracts in the USDT trading pair support for Comedian (BAN), which soared to a new all-time high of $0.378 on Monday. BAN has since retraced and is trading for $0.292 at time of writing, up more than 1,600% from its low in early November of $0.017. With a market cap of $287.4 million, BAN is the 275th largest crypto project. According to the project’s website, the memecoin was inspired by the 2019 artwork titled “Comedian” by Italian artist Maurizio…
US-based crypto exchange Coinbase just launched a new benchmark index for tracking the digital assets market. In a statement, the publicly-listed firm says the Coinbase 50 Index (COIN50) is a regulated benchmark representing the 50 largest crypto assets on its platform that meet the fundamental criteria for token economics, blockchain architecture and security. To qualify for entrance into the index, the assets must not be pegged to other digital assets, must have most of their token supply in public circulation and must not have any known security vulnerability. “The Coinbase 50 Index, rebalanced quarterly, is a market cap-weighted index of…
Ki Young Ju, the CEO of analytics firm CryptoQuant says that signs of retail participation in the Bitcoin (BTC) bull market are getting stronger. Ju tells his 369,000 followers on the social media platform X that sub-$100,000 transactions on the Bitcoin blockchain have spiked, implying that smaller retail entities are starting to form positions in BTC. “Retail investors are coming: Bitcoin transaction volume under $100K hit a 3-year high.” On the other hand, Ju shares data suggesting that larger entities are much less involved now compared to late 2021 at the bull market’s top, suggesting that BTC isn’t ready to…