Author: The Daily Hodl
A top-50 altcoin by market cap is on the verge of rallying, according to a closely followed trader and analyst. The analyst pseudonymously known as Bluntz tells his 276,000 followers on the social media platform X that the Ethereum-based memecoin Pepe (PEPE) is forming an ascending triangle pattern on the eight-hour time frame. The pseudonymous analyst further says that PEPE has turned previous resistance levels to support on its journey upwards. “Looks like Pepe has been lagging a bit but with other memecoins perking up over the last 48 hours I think it probably won’t for too much longer.” Based…
Analyst and trader Kevin Svenson says Bitcoin (BTC) could print fresh all-time highs (ATHs) before the end of 2024. In a new strategy session, Svenson tells his 79,700 YouTube subscribers that Bitcoin remains in a macro uptrend and could soon soar past its current ATH level of about $74,000. “I’m very bullish on this market, bullish on Bitcoin. I think we’re going to hit new all-time highs this year before the end of the year most likely going into Q4.” However, he warns that Bitcoin may first retest lower levels. “But there is some downside risk in the short term,…
A widely followed crypto analyst believes that Bitcoin (BTC) may go on a massive rally and hit six figures after the US presidential election. Pseudonymous crypto trader Kaleo tells his 649,500 followers on the social media platform X that Bitcoin may repeat an end-of-the-year pattern from 2023 and print fresh all-time highs (ATHs). “Overlayed the fractal of last September/October’s price action to this year’s just for fun. It serves as a good reminder that September did mark the bottom of the range and ‘Uptober’ led to a solid shift in momentum higher, but the real fun started at the end…
Binance, the largest crypto exchange in the world, has announced the launch of its new Binance Pre-Market platform. In a blog post, Binance says the new service allows users to acquire tokens in advance of their official spot listing through the exchange’s Launchpool platform. Launchpool is Binance’s service that allows users to earn yet-to-be-launched tokens by staking BNB, the exchange’s utility coin. “By participating in pre-market trading, you get to trade these tokens – usually earned through staking – before they’re officially listed. This early access allows you to act on insights quickly and establish positions at the onset of…
A decentralized finance (DeFi) project and an Ethereum (ETH) layer-2 blockchain are both surging after abruptly gaining support from Coinbase. In a new set of announcements, top US-based crypto exchange platform Coinbase says it’s adding DeFi platform Moonwell (WELL) and ZKsync (ZK), an Ethereum scaling solution, to its suite of products. According to Coinbase, customers can now buy, sell, covert, send, receive, or store WELL and ZK starting today. News of the listings sent both WELL and ZK flying, as the duo of assets saw respective gains of 31.22% and 4.21% on the day. WELL is trading for $0.0389 at…
A widely followed cryptocurrency analyst and trader is leaning bullish on one under-the-radar altcoin while offering his insight on two memecoins. The analyst pseudonymously known as Bluntz tells his 276,000 followers on the social media platform X that the native token of the layer-1 protocol Saga (SAGA) is “about to gigasend next.” Based on a chart by the pseudonymous analyst who regularly applies the Elliott Wave theory in his technical analysis, SAGA has completed a minor three-wave pattern on the eight-hour time frame and is now in the process of completing a major five-wave pattern that could see its price…
A widely followed crypto analyst says that the digital assets industry will continue to thrive despite the Federal Reserve cutting interest rates. In a new video update, Guy Turner, the host of Coin Bureau, tells his 2.52 million YouTube subscribers that small-cap stocks and crypto assets will continue to surge as the Federal Reserve continues to cut rates. “Short term, rate cuts are likely to boost the markets – particularly small cap stocks as they [are] the most sensitive to interest rates. The same is true for cryptocurrencies, particularly altcoins, which seem to be highly correlated to small cap stocks.…
Federal securities regulators have reached an agreement with TrueUSD (TUSD) issuer TrueCoin and lending protocol operator TrustToken to settle charges for the alleged and fraudulent sale of unregistered investment contracts. The US Securities and Exchange Commission (SEC) accuses TrueCoin and TrustToken of offering and selling TUSD as an unregistered security from November 2020 to April 2023. The regulator says that while TrueCoin and TrustToken claimed that TrueUSD was fully backed by the U.S. dollar, a substantial portion of the assets purportedly backing TUSD were invested in a speculative and risky offshore investment fund to generate more earnings. The SEC alleges…
The co-founder of the original memecoin is calling out Gary Gensler after the U.S. Securities and Exchange Commission (SEC) chair said Bitcoin (BTC) is not a security. In a new interview with CNBC, SEC chair Gensler states clearly that BTC is not a security. “As it relates to Bitcoin, my predecessor and I have said that it’s not a security.” Bitcoin’s designation as a “non-security” places regulation of the flagship crypto outside the SEC’s jurisdiction. Responding to the news, Dogecoin (DOGE) creator Billy Markus took to the social media platform X to call out Gensler for not giving DOGE the…
Long-time crypto bull Anthony Pompliano is predicting Bitcoin (BTC) will soar over the coming months due to one main factor. In a new interview on CNBC Squawk Box, the founder of venture capital firm Pomp Investments says that Bitcoin may continue in an uptrend since the Fed has started to cut rates, which increases global liquidity. Pomp says Bitcoin usually rises in tandem with liquidity based on historical data, and he references a new study issued by macro expert Lyn Alden showing the correlation between the two. “83% of the time Bitcoin moves with global liquidity. It’s more than S&P…