Author: The Daily Hodl

A crypto trader who nailed the 2022 Bitcoin bottom thinks that BTC is at risk of witnessing an over 15% correction. In a new strategy session, pseudonymous analyst DonAlt tells his 59,300 YouTube subscribers that Bitcoin is in danger of losing its range low and support at $61,000 again after reclaiming it earlier this month. DonAlt warns that a daily close below $61,000 is a huge sign of weakness that will likely trigger a sell-off event that sends BTC close to $50,000. “This is just the bearish scenario. This was just kind of the complacency bounce off of the range…

Crypto strategist Michaël van de Poppe believes that Ethereum (ETH) is close to witnessing a big trend shift. Van de Poppe tells his 717,600 followers on the social media platform X that he doesn’t expect the U.S. Securities and Exchange Commission (SEC) to approve pending applications for spot Ethereum exchange-traded funds (ETFs) in the coming weeks. The SEC is slated to approve, delay or deny the ETH ETF applications by financial giants Hashdex and Ark 21Shares on May 30th after postponing it in March. Van de Poppe predicts that the SEC’s decision will end up being a pivotal point for the…

Technical signals are hinting at an explosion in altcoin prices approaching over the horizon, according to veteran crypto analysts. Glassnode co-founders Jan Happel and Yann Allemann, who go by the handle Negentropic on the social media platform X, tell their 62,800 followers that altcoins are likely on the verge of a “massive move.” The analysts say that ALTS (TOTAL3), which represents the total market cap of crypto assets excluding Bitcoin (BTC), Ethereum (ETH) and stablecoins, appears ready to move up now that both its monthly relative strength index (RSI) and moving average convergence divergence (MACD) indicators have potentially bottomed out.…

Hedge fund Pantera Capital says one project, which is the firm’s “largest investment ever,” has an opportunity to bring crypto to the masses. In a new post, Pantera CEO Dan Morehead says that Toncoin (TON), the layer-1 blockchain network originally designed by the messaging platform Telegram, has a major advantage over other projects in building a large community. “99.999% of blockchain projects are a tech idea trying to create a community – from nothing. According to CoinMarketCap, there are more than 23,000 cryptocurrencies. That’s a hard road for most. Telegram is a community integrating blockchain technology. That’s just got to…

Billionaire hedge fund manager Stanley Druckenmiller is warning that excessive government spending will stifle key technological innovations that could supercharge productivity in the US. In a new CNBC interview, Druckenmiller says that the government is spending money like we’re back in the Great Depression. According to the billionaire, the government’s demand for more debt to fund its undue spending will eventually lead to higher interest rates, making it more expensive for private firms innovating in tech fields such as blockchain and artificial intelligence (AI) to access fresh capital. “I’ve studied the Great Depression, and you had a private sector crippled…

Popular on-chain analyst Willy Woo strongly believes that Bitcoin (BTC) will ultimately achieve a seven-figure price tag. Woo tells his 1.1 million followers on the social media platform X that he’s convinced Bitcoin’s value will skyrocket to $1 million in the coming years. According to the analyst, a $1 million BTC price will have enduring effects that would change the global landscape. “What a time to be alive. BTC at $1 million will happen easily in the next 10 years. Follow-on impacts will be long-lasting… – BTC becomes a reserve currency – a purge of central bank corruption – wars…

A decentralized cloud computing altcoin has surged by 44% since it completed a mainnet upgrade on May 2nd. Akash Network (AKT) is trading at $5.76 at time of writing, up from around $4.00 prior to rolling out its “Mainnet 11” version earlier this month. The 73rd-ranked crypto asset by market cap is also up nearly 35% in the past seven days alone. Akash Network is a decentralized open-source cloud network that supports decentralized finance (DeFi) applications and organizations, as well as machine learning, blockchains and artificial intelligence (AI). The project says the new upgrade improved the management and tracking of…

The crypto exchange Kraken is pushing back against claims made by the U.S. Securities and Exchange Commission (SEC). In November, the SEC charged Kraken with operating its crypto trading platform as an unregistered securities exchange, broker, dealer and clearing agency. Earlier this year, Kraken filed in US District Court to dismiss those charges, and the company provided additional arguments in support of that motion on Thursday. The exchange’s lawyers argue that the SEC’s argument would widen the definition of investment contracts and expand the regulator’s jurisdiction outside of its delegated responsibility. “When pressed to identify the securities in question, the SEC…

Billionaire and tech entrepreneur Jack Dorsey expects big things from Bitcoin (BTC) in the next six years. In a new interview with tech-focused news site Pirate Wires, the Twitter co-founder predicts that the top crypto asset will skyrocket to “at least” $1 million by 2030. “I do think it hits that number and goes beyond. But I think the price is only interesting… The most amazing thing about Bitcoin, apart from the founding story, is anyone who works on it, or gets paid in it, or buys it for themselves – everyone who puts any effort in to make it…

Real Vision crypto analyst Jamie Coutts says that key indicators for one Ethereum (ETH) competitor are flashing bullish. The former Bloomberg analyst tells his 14,100 followers on the social media platform X that NEAR Protocol (NEAR) could soar more than 47% from its current value. “Absolute price momentum: has been consolidating since March. The technical pattern looks extremely bullish if it breaks this resistance around $7.60 which is where a cluster of volume has traded these past months. This is a high conviction set up if it breaks the pattern neckline, producing a target above $10.50 (+30%).” Looking at his…