Author: The Daily Hodl
Cryptocurrency analyst and trader Ali Martinez is leaning bullish on the largest memecoin by market cap. Martinez tells his 73,200 followers on the social media platform X that the Moving Average Convergence/Divergence (MACD), an indicator used to determine the strength and direction of a trend, is potentially forming a bullish crossover on the weekly chart of Dogecoin (DOGE). The crypto analyst and trader says, “The last two times Dogecoin DOGE had a MACD bullish crossover on the weekly chart, it rallied 90% and 180%, respectively.” Martinez further says that the Dogecoin network is recording “significant growth” with the number of…
Popular crypto analyst Benjamin Cowen is warning that Ethereum (ETH) could suddenly turn bearish in the last three months of the year. Cowen tells his 861,500 followers on the social media platform X that ETH may be repeating a similar 2016 pattern on the monthly timeframe that could have it seeing red in the fourth quarter. However, he says if ETH follows a similar pattern, it may put up big gains in the first half (H1) of next year. “With ETH going green in September, the 2016 pattern is still tracking. If it continues to play out, it would mean…
The chief executive of crypto investment firm Galaxy Digital says that one new factor could be a huge bullish catalyst for Bitcoin (BTC). In a new interview on CNBC’s Squawk Box, billionaire Mike Novogratz says options trading for spot market Bitcoin exchange-traded funds (ETFs) could send the flagship crypto soaring. “The next big jolt to Bitcoin is going to be when we have options that trade on the ETFs. The SEC said they’re coming. I don’t know if it’s in three weeks or a month.” Late last month, the U.S. Securities and Exchange Commission (SEC) approved options on BlackRock’s Bitcoin…
Analyst and trader Justin Bennett is issuing a warning on Bitcoin (BTC) amid the flagship crypto asset’s single-digit correction over the past couple of days. Bennett tells his 111,500 followers on the social media platform X that Bitcoin could fall below $60,000 before trending higher. According to the cryptocurrency analyst and trader, Bitcoin needs to turn resistance levels into support levels to confirm an uptrend. “But a sweep without a reclaim is a potential break with follow-through and probably not something you want to long. The reclaim is the trigger. It’s what tips the scales from possible to probable. No…
A crypto strategist holding a “Master Trader” rank on the crypto exchange Bybit says one Solana (SOL)-based memecoin looks poised to have a strong week despite the latest correction. Pseudonymous analyst Bluntz tells his 278,100 followers on the social media platform X that Bonk (BONK) looks to be in the midst of a five-wave surge. Bluntz is a popular practitioner of the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave rally. The trader shares a chart suggesting that BONK will rally to as high as $0.000033. “Swift post weekly dip here which is ideal,…
The CEO of PayPal says the firm is considering the role crypto plays in the future of commerce and payment processing. In a new interview with Yahoo Finance, PayPal CEO Alex Chriss says that he, and by extension PayPal, think that crypto will be impotant for the future for consumers. “Crypto to me is a really important future element of commerce. But it’s a how. Really, what it is doing is enabling commerce at faster speeds, high-scale, globally, at a lower cost. And anytime that you can move money faster at lower costs, that’s better for consumers. We’ve taken the…
Crypto whales are aggressively accumulating Bitcoin (BTC) in an unprecedented manner, according to the CEO of a prominent analytics firm. CryptoQuant CEO Ki Young Ju tells his 363,000 followers on the social media platform X that the market hasn’t seen the current behavior from whales. He shares a chart suggesting that new whales have gone on rapid buying sprees while older whales have remained conservative. “Look at how fiercely the new whales are stacking Bitcoin; this market has never seen such accumulation.” Ju says that the recent correction from the $67,000 level to about $61,000 is more about games in…
New data from the crypto market analytics firm Kaiko Research indicates traders are placing big bets that Bitcoin (BTC) will have a strong October. In a new report, Kaiko finds that derivatives traders are betting hundreds of millions of dollars on the crypto options exchange Deribit that Bitcoin is going to regain the $70,000 range this month. “Options volumes have increased over the past few weeks as markets shift to a risk-on mindset. Traders are positioning themselves to capture upside price movements ahead of what is historically BTC’s best trading month. BTC’s price has only ended October down twice since…
A prominent player in the crypto investment space is filing for a new digital asset exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). According to a Fox Business Report, Bitwise Asset Management, the largest crypto index fund manager in the US, has filed to launch a spot ETF for XRP, the native token of the XRP Ledger. On Wednesday morning, Bitwise, which manages $4.5 billion in assets, submitted an S-1 registration statement to the SEC for a spot XRP ETF tracking the price movements of XRP, according to the report. Bitwise has already successfully launched ETFs in…
A cross-chain protocol’s altcoin is soaring after Korea’s biggest crypto exchange announced support for trading. Messaging protocol Wormhole (W) shot up from a 24-hour low of $0.28 to a current value of $0.37, a more than 32% increase after crypto exchange Upbit announced support on the Solana (SOL) network. With a market cap of $959.7 million, Wormhole is now the 82nd largest crypto project. Wormhole aims to facilitate an efficient transfer of liquidity and data across various blockchains. Wormhole was launched in 2020 by Jump Crypto with help from the Solana Foundation. Wormhole had an initial focus on bridging Solana…