As Bitcoin unlocks human potential in its various forms, artistic expression will experience a renaissance alongside other aspects of life.
A popular crypto strategist is predicting rallies for Ethereum (ETH) rival Avalanche (AVAX) while keeping a close watch on one large-cap digital asset. Michaël van de Poppe tells his 620,800 Twitter followers that AVAX looks primed for a strong rally after taking out resistance at $26. “Avalanche looks ready for continuation here: Attacking the highs […]
The post Avalanche Rally Not Over Yet as One Large-Cap Coin Presents Massive Opportunity: Top Analyst appeared first on The Daily Hodl.
On-chain data shows both the Bitcoin leverage ratio and the futures open interest has spiked up recently, a sign that may turn out to be bearish for the crypto’s price. Bitcoin Estimated Leverage Ratio And Open Interest Surge Up As pointed out by an analyst in a CryptoQuant, the BTC futures market seems to have […]
A closely followed crypto analyst and trader is warning Bitcoin holders that BTC is about to flash a signal that could lead to the reversal of its recent uptrend. Crypto strategist Kevin Svenson tells his 112,300 Twitter followers that he’s keeping a close watch on BTC’s relative strength indicator (RSI) on the one-day chart. According […]
The post Top Crypto Strategist Issues Bitcoin Warning, Says BTC at Risk of Major Breakdown appeared first on The Daily Hodl.
A popular crypto strategist says that a breakout rally is in sight for leading smart contract platform Ethereum (ETH). The crypto analyst known in the industry as Kaleo tells his 531,000 Twitter followers that Ethereum has broken out of its diagonal resistance against Bitcoin (ETH/BTC), and the pair looks primed for a new leg up. […]
The post Top Analyst Says Ethereum (ETH) About To Rip, Calls One Exchange Token an ‘Actual Tank’ appeared first on The Daily Hodl.
A closely followed crypto analyst says that one hot altcoin hasn’t even seen the real gains yet, despite recently doing a 3x in less than a month and predicts Binance Coin (BNB) is also destined for new all-time highs. The pseudonymous analyst known as The Crypto Dog tells his 746,000 followers that he’s bullish on […]
A widely followed crypto trader is sharing his outlook for Bitcoin (BTC), ApeCoin (APE) and two Ethereum (ETH)-based altcoins amid signs of potential recovery for the crypto market. As Bitcoin continues to trade above its 200-day exponential moving average (EMA), Altcoin Sherpa tells his 180,700 Twitter followers that the leading virtual asset needs to hold […]
The Bitcoin long-term holder SOPR may suggest that the crypto has still only gone one-third of the way through the latest bear market. Bitcoin 20-day SMA Long-Term Holder SOPR Has Only Been 86 Days Into Bottoming Zone As pointed out by an analyst in a CryptoQuant post, the crypto is still only 1/3rd of the way into the 260 days average historical bottoming period. The relevant indicator here is the “Spent Output Profit Ratio” (or SOPR in brief), which tells us about whether the average Bitcoin investor is selling at a profit or at a loss right now. The metric works by looking at the history of each coin being sold on the chain to see what price it was last moved at. If this previous selling price was less than the latest BTC value, then the coin has just been sold at a profit. While if the last value was more than the current one, then that particular coin realized some loss. When the value of the SOPR is greater than one, it means the market as a whole is selling at a profit right now. Related Reading: Bitcoin Funding Rates Turn Positive, Why The Rally May Not Be Over On the other hand, the indicator being less than one implies the average holder is moving coins at a loss at the moment. The “long-term holders” (LTHs) is the Bitcoin cohort that includes all investors who have held onto their coins for at least 155 days without selling or moving them. Now, here is a chart that shows the trend in the BTC SOPR (20-day MA) specifically for these LTHs over the the last several years: Looks like the value of the metric has been pretty low recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin LTH SOPR (20-day SMA) dipped below the “one” mark a while back. Also, in the chart the quant has marked all the relevant zones of trend for the indicator in relation to the bear market. Related Reading: Here’s What Bitcoin Institutional Inflows Says About The Month Of July It seems like historical bottoming periods have lasted whenever the metric has been stuck below the breakeven point. On average, past bear markets have lasted around 260 days based on the LTH SOPR. In the current cycle, the coin has so far been 86 days into the bottoming zone. This would suggest that if Bitcoin ends this bear market in about the same time as the average, then the crypto is still only one-third of the way through. BTC Price At the time of writing, Bitcoin’s price floats around $23k, down 2% in the last week. Over the past month, the coin has gained 13% in value. The value of the crypto seems to have been moving sideways during the last few days | Source: BTCUSD on TradingView Featured image from mana5280 on Unsplash.com, charts from TradingView.com, CryptoQuant.com
A popular crypto analyst says Bitcoin (BTC) is scheduled to bottom later this year, only to rebound in 2023. In a new video update, Rekt Capital tells his 45,100 YouTube subscribers what to expect from the king crypto for the next six months. The analyst looks at previous market cycles in relation to Bitcoin halvings, which occur […]
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The pseudonymous crypto analyst Altcoin Sherpa remains largely bearish about the market despite the general price uptick last week. The trader tells his 180,700 Twitter followers that $22,000 is a “must hold” level for Bitcoin (BTC). “The last high, although technically higher, is not convincing, and I think there’s a real chance that this low […]
A closely tracked crypto strategist is predicting dips for two altcoins while updating his forecast for Solana (SOL) and ApeCoin (APE). Pseudonymous crypto analyst Altcoin Sherpa tells his 180,700 Twitter followers that smart contract protocol Ethereum Classic (ETC) looks poised for a significant pullback after its steep rally over the past few weeks. “ETC: comfy […]
Solana co-founder Anatoly Yakovenko says that the hack that compromised over 8,000 SOL holders’ wallets may be due to issues with mobile platforms. Early on Wednesday morning, blockchain security firm PeckShield reported that an attack on Solana wallets stemmed from a supply chain hack, which is when an outside party or provider with access to […]
Though Hashed took a big hit on Terra, Kim said his belief in crypto hasnt waned. Hashed CEO Confirmed LUNA Losses Hashed lost more than $3 billion on its Terra…
A closely followed analyst is highlighting one key historical metric as an indicator that Bitcoin (BTC) may finally have set a bottom after an eight-month-long bear market. The pseudonymous crypto enthusiast TechDev tells his 399,600 Twitter followers about the significance of 1-year HODL waves, a metric that keeps track of Bitcoin that has remained dormant […]
A popular crypto analyst is comparing a decentralized crypto exchange (DEX) to traditional finance (TradFi) marketplaces in an effort to calculate its real-world value. The anonymous host of InvestAnswers tells his 443,000 YouTube subscribers that he wants to see how the decentralized finance (DeFi) platform Uniswap (UNI) stacks up against two mainstream stock markets as […]
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