Author: The Daily Hodl
A cryptocurrency trader and analyst is issuing a warning on the potential price performance of altcoins in the current cycle. The analyst pseudonymously known as Sherpa tells his 11,399 YouTube subscribers that altcoins might perform poorly during the current cycle relative to other cycles and periods. “Your altcoin might not do crazy multiples like it did earlier this year. It might not go to an all-time high like it did in 2021 and your altcoin might simply have already topped for the cycle.” The pseudonymous analyst further says, “I think that you have to be realistic with your overall targets…
The chief legal officer of the crypto firm Ripple is publicly issuing a challenge to the U.S. Securities and Exchange Commission (SEC). Yesterday, the CEO of the world’s largest non-fungible token (NFT) marketplace, Devin Finzer of OpenSea, announced that the SEC had slapped OpenSea with a Wells Notice. A Wells Notice is a warning issued by the SEC that they are planning to pursue legal action against a company and is not an indication of wrongdoing. Said Finzer, “OpenSea has received a Wells notice from the SEC threatening to sue us because they believe NFTs on our platform are securities.…
An ancient Bitcoin address moved 64.59 BTC over the weekend after sitting on it for more than 13.5 years. The unknown wallet first received the Bitcoin in February 2011, when the top crypto asset was priced at $0.998 per BTC – meaning the entire trove was worth only $64.46 at the time. The crypto tracker BitInfoCharts, which clocked the transaction, notes that the same trove of Bitcoin was worth $4.142 million when the wallet moved it on Saturday – an increase of more than 6,426,000%. The long-dormant wallet has received trace amounts of Bitcoin a handful of times over the…
A closely followed crypto analyst says that Ethereum (ETH) is on the brink of a swing to the upside while updating his outlook on Bitcoin (BTC) and decentralized finance (DeFi) altcoin Maker (MKR). In a new strategy session, crypto trader Ali Martinez tells his 69,00 followers on the social media platform X that the top smart contract platform by volume appears ready to break out of its ascending triangle pattern – only to see a decline. “Ethereum might be on the verge of breaking out of an ascending triangle, which could lead to a decline towards $2,430. However, this bearish…
Crypto strategist Michaël van de Poppe predicts that if Bitcoin (BTC) flips one key level into support it will soar into the $70,000 range. The analyst tells his 723,800 followers on the social media platform X that if Bitcoin crosses the $61,000 level on the daily chart it could break out to test its all-time high (ATH) of around $74,000. “Chop, chop, chop. Bitcoin is still acting within the range. A breakout above that resistance zone at $61,000 is crucial for upward momentum. If that happens: party time and a new ATH test.” Bitcoin is trading for $60,866 at time…
The community behind layer-1 blockchain The Open Network (TON) is rallying behind the messaging platform Telegram’s founder, Pavel Durov, who is currently detained in France. French authorities arrested Durov at the Le Bourget Airport last weekend on a warrant related to Telegram’s alleged failure to moderate content linked to drugs, fraud and other criminal activities. In a post on social media platform X, the TON Society is asking the public to support an initiative to free Durov by signing an open letter urging France to release the 39-year-old. “Anyone who values privacy and freedom of speech should sign this letter…
The chief investment officer of crypto asset management firm Bitwise says that Bitcoin (BTC) will be hit with an unexpected crisis. In a new interview on the Insightful Investor YouTube channel, Bitwise CIO Matt Hougan says that the crypto king is now stable enough to be considered a store of value, much like gold. According to Hougan, assets that are stores of value tend to follow a pattern – one that sees their volatility diminish over time as their price increases. “I would argue that [Bitcoin] has gotten to the point where it’s sufficiently stable to be used as a…
A widely followed crypto analyst is updating his outlook on Ethereum (ETH) competitor Solana (SOL) as the market chops around. In a new video update, crypto strategist Benjamin Cowen tells his 808,000 YouTube subscribers that Solana could plummet in value if a similar 2019 market pattern plays out again. Looking at the TOTAL3 chart, which tracks the total market cap of crypto excluding Bitcoin (BTC), Ethereum and stablecoins, Cowen shows that alts rallied in 2019 but then plummeted that same year when the Federal Reserve enacted a looser monetary policy. The Fed is now expected to cut interest rates next…
A cryptocurrency analyst and trader is saying that Bitcoin (BTC) is on the cusp of turning bullish. The analyst pseudonymously known as Rekt Capital tells his 84,700 YouTube subscribers that Bitcoin is in a re-accumulation phase and is “getting really close to entering the parabolic phase of the cycle.” According to the pseudonymous analyst, Bitcoin is weeks away from breaking out above the current record high of around $73,800 based on historical precedent. “214 days after the halving is typically when we are already breaking out into a new micro uptrend because… 214 days after halving we should be already…
BitMEX co-founder Arthur Hayes thinks impending rate cuts in the US will drive up the price of Bitcoin (BTC). In a new blog post, Hayes said comments made by Federal Reserve Chair Jerome Powell last week indicate the Fed is “reaching for the rate cut sugar high before hunger arrives.” While speaking in Jackson Hole, Wyoming, Powell said the time has come for “policy to adjust,” noting that incoming data would determine the pace of rate cuts. Hayes says he doesn’t know if the rate cuts will benefit stock prices, but he’s confident about the policy change’s impact on Bitcoin.…