Author: The Daily Hodl

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…

The founder of investment firm SkyBridge Capital says that crypto assets are now looking for their fair market prices after going through a depression phase. In a new interview with Bloomberg Television, hedge fund veteran and former White House Press Secretary Anthony Scaramucci says that digital asset prices have been depressed since the multibillion-dollar downfall of FTX in 2022. According to Scaramucci, the U.S. Securities and Exchange Commission’s (SEC) approach to regulating the industry via enforcement was also a crucial factor in keeping crypto prices down. “I think that the [crypto markets] have been ridiculously depressed, meaning you haven’t found…

Michael Saylor and MicroStrategy’s system of issuing bonds to buy Bitcoin (BTC) comes with substantial risk, according to BitMEX Research. In a new report, BitMEX comments on the business intelligence firm’s massive corporate holding of Bitcoin, which it has largely accumulated by issuing debt. While a forced liquidation is “highly unlikely,” BitMEX notes that Bitcoin is still extremely volatile and that anything can happen. BitMEX says MicroStrategy has five outstanding bonds with a principal value of $4.25 billion, with two others already fully called and paid for. If the price of BTC happens to crash during the maturity dates of…

Closely followed analyst Benjamin Cowen says that Cardano (ADA) is most likely in for one additional drop against Bitcoin (ADA/BTC) before 2024 comes to a close. Cowen tells his 889,100 followers on the social media platform X that historically, ADA has oscillated against BTC roughly between 400 and 4,000 satoshis (sats), while making final declines at the end of the halving year. Cowen points out that coinciding with the four-year ADA/BTC pattern is the fact that monetary policy is still relatively restrictive and that the US dollar is in the middle of a rally – two typically bearish conditions for…

A crypto analyst who nailed the 2022 Bitcoin bull market top says steep rallies are within the realm of possibility for BTC. Pseudonymous analyst Dave the Wave tells his 147,000 followers on the social media platform X that he thinks parabolic surges are in sight for Bitcoin as soon as BTC shatters the psychological price area of $100,000. According to the top trader, Bitcoin’s four-year cycle is still intact, indicating that BTC will likely mirror its price action in the past when the crypto king went parabolic after recording new cycle highs. “Such a multi-year timeline is in keeping with…

An analyst who has earned the “Master Trader” rank on the crypto exchange Bybit believes top memecoin Dogecoin (DOGE) is primed for more rallies. Pseudonymous analyst Bluntz tells his 291,000 followers on the social media platform X that Dogecoin appears to have completed an ABC corrective wave against Bitcoin (DOGE/BTC). The trader practices Elliott Wave theory, which states that a bullish asset tends to witness a five-wave upside move after an “ABC” correction. Says Bluntz, “DOGE/BTC looking sendy again, swept the A wave lows and looks like a clear ABC down move now done. I have been waiting for this…

One of Dogecoin’s (DOGE) competitors has skyrocketed after being added to the listing roadmap of top US crypto exchange Coinbase. In a new announcement, Coinbase says it’s adding memecoin Floki (FLOKI) to its listing roadmap, which the exchange uses for transparency and to prevent insider trading on coins prior to them being listed. News of the potential listing caused FLOKI to surge, sending the memecoin from a low of $0.000217 on November 14th to a peak of $0.000280 hours later. At time of writing, FLOKI is trading at $0.000239. FLOKI, which launched in 2021 and was inspired by Elon Musk’s…

Venture capitalist Chris Burniske thinks meme tokens have a purpose that will ultimately lead to the development of fundamentally sound crypto projects. Burniske tells his 303,400 followers on the social media platform X that he believes the dominance of memecoins in this market cycle is forcing the hand of other crypto projects to innovate and stand out. According to the crypto veteran, the “forcing function” of memecoins is ultimately a big positive for the digital asset industry. “Meanwhile, to those worried about ‘infrastructure-and-appcoins,’ everything is a pendulum…  Memecoins will force ‘infrastructure-and-appcoins’ to show holders and stakers the revenue, aided by…

Real Vision’s head crypto analyst Jamie Coutts says that the US dollar is on the verge of foiling the rally for Bitcoin (BTC) and digital assets. While the long-term bullish structure is still intact, Coutts says that a strong dollar is threatening to derail BTC’s movement in the short term. “The macro backdrop has soured. Dollar strength is not good for Bitcoin. Ann Funding rates hit 40% 2 days ago. My liquidity framework is sensitive to the short to medium-term changes in momentum. In the long term, the picture is Bullish; in the Short term, they suggest caution.” Zooming in…

Tech-focused investment firm ARK Invest believes Bitcoin (BTC) will shatter the six-figure price level before 2024 expires. In a new report, ARK Invest analyst David Puell looks at historical data to predict where Bitcoin could possibly land before the year ends. Based on the numbers dating as far back as 2011, Puell predicts that Bitcoin could rise by as much as 36% from current levels. “As of November 13, 2024, Bitcoin’s performance multiple reached 2.14x, outperforming the 2.06x average for all sampled years: 2011 to 2023, as well as the 2.04x average of all calendar years in which halvings have…