Author: The Daily Hodl
The CEO of the largest crypto exchange in the US thinks the digital asset industry is entering a new phase. In a new interview on CNBC, Brian Armstrong says that Donald Trump’s successful bid to return to the White House and the victory of pro-crypto legislators in the recent elections will be bullish for crypto. “It’s really the dawn of a new crypto era with this election that just happened because it’s the most pro-crypto congress ever… We couldn’t be in a better position to finally get some clarity and start to rebuild the crypto industry in America again.” He says Bitcoin…
A widely followed crypto analyst says that one Ethereum (ETH) layer-2 scaling solution appears to be a cusp of a rally that would see it print gains of over 200%. In a new strategy session, crypto trader Michaël van de Poppe tells his 736,000 followers on the social media platform X that Polygon (POL) rival Optimism (OP) could hit a new all-time high (ATH) by the start of next year if it holds key support levels. “Volatility is increasing. OP has tested the crucial resistance, but dropped more than 20% in the past few days. If there’s another test at…
The global crypto markets have toppled $3 trillion in the aftermath of the Trump US Presidential win. According to data from crypto data aggregator CoinGecko, crypto’s total market cap now rests at $3.076 trillion, down 5% in the last 24 hours from a market cap of $3.184 trillion. Bitcoin (BTC) has led the way, up 17.3% from a week ago, currently trading for $89,207. According to a recent Reuters report, Matthew Dibb, chief investment officer at cryptocurrency asset manager Astronaut Capital, said: “Generally the way this market goes is bitcoin will break out and then the rest of the altcoins…
An ancient Bitcoin (BTC) wallet suddenly sprung to life this week after 13 years of dormancy, according to the crypto tracker Lookonchain. Lookonchain notes the unknown address received 426.3 BTC on July 29th, 2011, when the price of BTC was only $13.49, meaning the wallet’s entire trove was worth $5,753. On Tuesday, that same wallet transferred out 42.3 Bitcoin worth nearly $3.7 million at a price of $87,242 per BTC, meaning the whale made a staggering 646,616% gains on the Bitcoin they moved. The address still holds 384 BTC worth nearly $34.7 million, according to BitInfoCharts. It is not the…
The head of digital assets research at exchange-traded fund (ETF) provider VanEck believes Bitcoin (BTC) is heading even higher this cycle after putting up massive gains. In a new interview on CNBC’s Squawk Box, VanEck executive Matthew Sigel says that Bitcoin may soar more than 102% from its current value. “We think it’s just started. As we expected, Bitcoin saw this high volatility pump after the election. We’re now in blue sky territory, no technical resistance, and we think we’re likely to make repeated all-time highs over the next two quarters. The same pattern played out four years ago. Between…
South Korean authorities have reportedly arrested 215 individuals who are allegedly behind a cryptocurrency investment scam that defrauded thousands of victims. Yonhap News reports that the suspected perpetrators, including a YouTuber with 620,000 subscribers, received 325.6 billion won, or around $231 million, from 15,304 people who were enticed to invest their money in crypto for high returns. The YouTuber, identified only as Mr. A, and his cohorts are accused of operating fake investment consulting firms. They allegedly told the victims that they could gain profits 20 times their investments. Most of the victims are middle-aged and elderly who were allegedly…
A widely followed analyst is turning bullish on altcoins as the total cryptocurrency market capitalization hovers above $3 trillion. The analyst pseudonymously known as Pentoshi tells his 811,300 followers on the social media platform X that once TOTAL3 (the total crypto market cap excluding Bitcoin and Ethereum) rises above approximately $790 billion, things could “get crazy.” According to the pseudonymous analyst, TOTAL3 will, however, experience corrections on the way up. “Where we’re going son, you don’t need charts… …Will be looking to add on dips. Price doesn’t move in a straight line. There will be shakeouts, bull traps, bear traps…
Former Goldman Sachs executive Raoul Pal thinks Ethereum (ETH) is primed for big gains. In a new YouTube video, Pal tells his 143,000 subscribers that ETH’s current chart is playing out similarly to Bitcoin’s between 2011 and 2019. “Ethereum now versus the previous periods is following the last in Bitcoin. Now whether it gets to the target here of $20,000/ETH, who the fuck knows. Doesn’t really matter. But directionally, we’ll see what happens. ETH should accelerate from here, and I’m pretty confident that it will.” ETH is trading at $3,209 at time of writing. The second-ranked crypto asset by market…
On-chain analyst Willy Woo is leaning bullish on Bitcoin (BTC) amid the flagship crypto asset’s rapid advance over the past couple of days. Woo tells his 1.1 million followers on the social media platform X that while Bitcoin is primed to go higher, the targets that BTC could potentially hit can only be determined by extrapolation. “When BTC breaks into all-time highs, there’s no prior history of resistances for the market to trade around. This means price goes into unfettered price discovery, expect wild swings. In these situations, we have two guides to find new resistances. Fibonacci bands, using magic…
Popular crypto analyst Benjamin Cowen believes Bitcoin (BTC) could outperform altcoins for the rest of 2024. Cowen tells his 884,400 followers on the social media platform X that the alts could decline further against the flagship crypto asset as Bitcoin’s dominance level (BTC.D) hovers around 60%. BTC.D is the ratio between the market cap of BTC versus the market cap of all crypto assets combined. At the of writing, BTC.D is at 61%. He also says that the TOTAL3 chart appears to be on the verge of declining on the weekly timeframe against Bitcoin (TOTAL3/BTC), similar to what occurred in…