Author: The Daily Hodl
The head of digital assets research at exchange-traded fund issuer VanEck says Bitcoin (BTC) has more upside potential. In a new interview on the David Lin report, Matthew Sigel says that over the near term, Bitcoin could go up by around 87% from the current level this year if the flagship crypto asset behaves like it previously has during the past three cycles. “In the near term, we do tend to assume that the four-year cycle will hold until the market tells us otherwise. And the most explosive part of the Bitcoin cycle tends to happen in the one year…
A closely followed crypto analyst says that Ethereum (ETH) will dip down to test its lower boundary before sparking a massive rally to the upside. In a new strategy session, crypto trader Ali Martinez tells his 127,700 followers on the social media platform X that the second-largest digital asset’s best-case scenario has it testing the $2,300 level as support before skyrocketing 47% past $4,000. However, Martinez notes that the leading smart contract platform by volume’s worst-case scenario could have it forming a double-top pattern, a bear flag that generally signals the end of a bull market. “In the best-case scenario,…
Widely followed crypto analyst Rekt Capital says that Bitcoin (BTC) is suddenly flashing bullishness after retesting range lows. The pseudonymous trader tells his 537,300 followers on the social media platform X that Bitcoin is showing bullish divergence on the daily chart. Bullish divergence, which suggests price will start to increase, occurs when the price of assets records lower lows while indicators, such as the Relative Strength Index (RSI), a momentum oscillator indicator, are witnessing higher lows. “Early signs of the bullish divergence playing out. However, for BTC to transition into trend continuation and the bullish divergence to fully mature BTC…
One on-chain metric looks bullish for Ethereum’s (ETH) mid- and long-term outlook, according to the crypto analytics firm Santiment. The firm notes on the social media platform X that the average fee of an Ethereum transfer is currently priced at $0.41, a sharp drop from $15.21, the high point in the past two years. Santiment says that low transaction fees usually mean Ethereum’s network isn’t too crowded, “When users are not paying high prices to move their ETH or tokens, it is typically a good sign for mid-term and long-term price outlooks. These low fee levels often happen when prices…
Real Vision’s chief digital assets analyst Jamie Coutts says that one key metric is signaling the crypto market bull cycle is far from over. Coutts tells his 34,500 followers on the social media platform X that based on the historical relationship between cryptocurrencies and the global money supply (M2) metric more rallies are coming. “We know global liquidity drives asset prices. We also know network activity (aka adoption) underpins prices. So what happens when we map global liquidity versus blockchain active addresses? They tell the same story: crypto is a high-beta play on liquidity AND a structural growth asset. Zoom…
A widely followed cryptocurrency analyst and trader is leaning bullish on Bitcoin (BTC). The analyst pseudonymously known as Kaleo tells his 687,400 followers on the social media platform X that Bitcoin is on the cusp of a bull season but could first go lower from the current level. Based on the analyst’s chart, it appears he’s suggesting that Bitcoin could fall to under $82,000 before rallying to above $120,000. “Sweep into the $80,000s is going to feel like the bottom rings of hell for altcoins after what they’ve already been through, but the bounce back across the board should be…
Historical patterns suggest Bitcoin (BTC) won’t enter a bear market this year, according to Ki Young Ju, the chief executive of the digital asset analytics firm CryptoQuant. In a new post on the social media platform X, Young Ju outlines BTC’s current price dynamics. “Bitcoin Cost Basis at $95,000: • ETFs/Custody Wallets: $89,000 • Binance Traders: $59,000 • Mining Companies: $57,000 – Falling below this level in past downturns (May 2022, March 2020, November 2018) confirmed a bear market. • Old Whales: $25,000 – Never breached historically.” The CryptoQuant CEO also notes that MicroStrategy’s BTC cost basis is currently $65,033.…
A popular analyst thinks that one top-30 altcoin may be among the best-performing digital assets in the near term as the crypto markets chop around. The pseudonymous analyst known as Altcoin Sherpa tells his 242,900 followers on the social media platform X that he is leaning bullish on the utility token of the decentralized open financial system Hyperliquid (HYPE). “Best positions right now in order of best to worst: Cash. Majors. HYPE. Utility or older coins like AAVE, LINK, XRP, OM. Everything else is pretty mehhh.” HYPE is trading for $23.27, at time of writing, down 8.8% in the last…
The president of Germany’s monetary authority is advocating for a central bank digital currency (CBDC). In a question-and-answer session with economists at the Official Monetary and Financial Institutions Forum (OMFIF) think tank, the president of the Deutsche Bundesbank, Joachim Nagel, says he supports a CBDC. The OMFIF cites Nagel saying that “CBDCs will play a role in the future resilience” of Europe and will assist in protecting the sovereignty of the Eurozone. Nagel says CBDCs are a public good that central banks should offer. According to the think tank, the Deutsche Bundesbank president views the rise of US companies in…
A closely followed crypto analyst says that a big stock market rally that will boost Bitcoin (BTC) and digital assets appears to be just over the horizon. In a new video update, Jason Pizzino tells his 348,000 YouTube subscribers that US stock markets look to be gearing up for another rally that will push Bitcoin and crypto assets up as well. “In terms of the S&P 500… I’m waiting and seeing whether we do start to push harder and faster above [its] resistance and it really has hit its head on this resistance multiple times, and I’m getting prepared for…