Author: The Daily Hodl

Three low-cap altcoins skyrocketed in price on Friday after Binance added trading support for the crypto assets. The top global crypto exchange by trading volume listed aixbt by Virtuals (AIXBT), ChainGPT (CGPT) and Cookie DAO (COOKIE). CGPT, the native asset for ChainGPT, a web3 artificial intelligence (AI) infrastructure project, witnessed particularly pronounced gains, ripping by about 105% from $0.2 to $0.41 in a 24-hour period between Thursday and Friday. The 301st-ranked crypto asset by market cap has given up some of its gains and is trading at $0.346 at time of writing. AIXBT is a crypto market intelligence platform developed…

BitMEX co-founder Arthur Hayes believes Bitcoin (BTC) could explode to seven figures in just a few years. In a new interview with co-founder and host of Impact Theory Tom Bilyeu, Hayes outlines his case for why Bitcoin may increase more than 950% from its current value in three to five years. He predicts governments will massively increase their money supply while long-term Bitcoin holders will continue to grow in number due to its store of value potential. “The supply of Bitcoin is fixed. We know [only] 21 million will ever be produced. However, as you have people like BlackRock, [Michael]…

A widely followed crypto strategist believes that a new altcoin that has posted astronomical gains in just a few months looks poised to spark a fresh leg up. The trader pseudonymously known as Bluntz tells his 308,000 followers on the social media platform X that the native token of ai16z (AI16Z), the decentralized investment platform powered by artificial intelligence (AI), “looks really good” after a 50% correction that occurred in a three-wave pattern. The analyst follows the Elliott Wave theory, which states that an asset may witness a five-wave rally after completing an ABC retracement. According to Bluntz, AI16Z is…

A widely followed cryptocurrency trader is warning that Bitcoin (BTC) may suddenly collapse if it loses a key support level. The trader pseudonymously known as Altcoin Sherpa tells his 239,300 followers on the social media platform X that if Bitcoin loses $90,000 as support, the flagship crypto may plummet all the way down to the low $80,000 range. He also says that Bitcoin may remain bearish until the US government decides what it will do with the seized Bitcoin from the Silk Road darknet marketplace after reports this week that it was legally cleared to sell over 69,000 BTC. “BTC:…

The chief investment officer (CIO) of Bitwise Asset Management Matt Hougan is highlighting one catalyst that could have a massive impact on the price of Bitcoin (BTC). In an interview on the Mr. M Podcast, Hougan says that the price of Bitcoin could rise exponentially if the crypto king is adopted as a reserve asset by various countries across the globe. “There’s this question of whether we will see governments around the world starting to add Bitcoin to their own balance sheets. I would say that that possibility is not priced into the market at all. Like zero. If that…

Blockchain tracking firm Lookonchain says one savvy crypto trader generated astronomical returns on an artificial intelligence (AI) related digital asset in just three months. According to Lookonchain, an anonymous trader pulled in massive profits after buying nearly 21 million utility tokens for the AI agent project ai16z (AI16Z). “This trader spotted ai16z early on October 25th, 2024. He bought 13.45 million ai16z with $70,000 and 7.45 million ai16z for $547,000. He currently holds 6 million ai16z ($11.04 million), with a total profit of $11.5 million – a 16,564% return!” AI16Z is trading for $1.37 at time of writing, down 20.4%…

Several billionaire money managers have modified their portfolios and poured about $1.8 billion into new assets, according to a new report. Billionaires Philippe Laffont, Stanley Druckenmiller, Chase Coleman, Stephen Mandel and Larry Robbins are accumulating AI-centered equities, reports The Motley Fool. The investors have specifically targeted US semiconductor and software giant Broadcom (AVGO), purchasing a total of 1,728,646 shares valued at about $1.47 billion in the third quarter of last year. The firm’s AI revenue has surged in recent months, powering a 125% rise in the stock over the last year. The wealthy investors have also purchased roughly 1,749,613 shares…

On-chain metrics suggest Bitcoin (BTC) could be headed for sideways movement or more correction amid weakening buying pressure, according to the crypto analytics firm Glassnode. Glassnode says on the social media platform X that BTC’s short-term demand momentum has dwindled. “One key indicator: Hot Capital (capital revived over the last 7 days) has plunged 66.7% from its December 12th peak of $96.2 billion to $32.0 billion.” The firm notes that BTC’s diminishing exchange volume momentum and low funding rates also hint at reduced demand. “The 30-day average of exchange volume is nearing the 365-day average, reflecting reduced capital flows since…

A widely followed crypto analyst says that there’s a high chance that Bitcoin (BTC) reverses course after its latest pullback. In a new strategy session, pseudonymous crypto trader Rekt Capital tells his 529,900 followers on the social media platform X that based on historical precedence, the crypto king should mount a recovery. “Bitcoin started its current -15% pullback in week seven of price discovery. The timing of this retrace is in line with historical tendencies. It is the first price discovery correction of this cycle. As a result, it has a high probability of reversal.” Price discovery is the process…

A British judge has rejected a Welsh IT worker’s bid to search a landfill for a discarded hard drive containing Bitcoin (BTC) worth over $600 million, ending a 12-year quest to recover the lost cryptocurrency. According to a new report from the BBC, James Howells lost the device containing 8,000 Bitcoin during a 2013 house cleanup in Newport, Wales, when he mistakenly threw away the wrong hard drive. The BTC on the hard drive, which Howells mined in 2009 during cryptocurrency’s early days, has skyrocketed in value since then. Despite offering to share the recovered funds with the local community…