Venture Capitalists Funnel Nearly $2,500,000,000 Into Crypto in Q1 of 2024: Galaxy Research – The Daily Hodl
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The telecom company is reportedly seeking $1.8 billion in loans amid a plan to raise a total of $2.9 billion in debt
In the wake of the U.S. intensifying its clampdown on privacy-oriented software and Zksnacks closing its coordinated coinjoin service, Edward Snowden, the NSA whistleblower and former contractor, has issued a stern warning to Bitcoin developers. Snowden emphasizes that time is running out for enhancing privacy and insists it must be integrated at the protocol level. […]
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Arthur Hayes, the co-founder and former CEO of BitMEX, recently shared his thoughts on the current Bitcoin price action. He stated that the flagship crypto has hit a local low and predicted what its future trajectory will look like. Related Reading: Is MATIC Poised For Takeoff? Key Area Breaks Records, Fueling Bullish Outlook Hayes Says Bitcoin Has Bottomed In a recent blog post, Hayes mentioned that Bitcoin hit a local low when it dropped to around $58,600 earlier this week. As such, he doesn’t foresee the flagship crypto dropping below that price range again anytime soon. Instead, he predicts that Bitcoin will rally above $60,000 (which it already did) and “then range-bound price action between $60,000 and $70,000 until August.” Hayes also suggested that Bitcoin’s recent decline was due to several factors, including the Fed rate decision, the Bitcoin halving sell-the-news event, and the slowdown in the demand for US Spot Bitcoin ETFs. He also used the opportunity to touch on the recent Fed and Treasury policy announcements, which he believes will significantly impact crypto. Hayes claimed those announcements meant the government would likely resort to money printing soon enough. He believes the potential injection of liquidity into the US economy will “dampen negative price movement” in the crypto market. As such, he expects that prices will “bottom, chop, and begin a slow grind higher.” Hayes’ projections are similar to crypto expert Michaël van de Poppe, who recently predicted that Bitcoin will likely consolidate for a few months. Interestingly, Van de Poppe also alluded to the Fed’s recent policies, noting that a Quantitative Easing is close, which would be bullish for Bitcoin. However, Hayes sounded apprehensive of the long-term effects of the recent monetary announcements, noting that they had an inflationary nature. Therefore, although more money is expected to flow into the crypto market with the Fed’s decision, it could cause inflation to skyrocket. This would eventually lead to higher interest rates, negatively affecting risk assets like Bitcoin. Bitcoin is now trading at $63.160. Chart: TradingView Arthur Hayes’ Trading Strategy Going Forward The MEXC co-founder said he would buy Solana and “doggie coins for momentum trading positions.” For long-term “shitcoin positions,” he mentioned that he would increase his allocations in Pendle while identifying other tokens that he considers undervalued. Basically, he plans to use this month to increase his exposure. Once he had done that, he remarked that he would wait for the market to “appreciate the inflationary nature of the recent US monetary policy announcements.” Related Reading: Shiba Inu In Danger Zone: 15% Price Crash Incoming? Meanwhile, as to what doggie coins Hayes might be accumulating, Dogwifhat (WIF) is likely one of them, considering he once mentioned that he would load up on WIF as Bitcoin bottoms out. Featured image from Pexels, chart from TradingView
Okay, so I know very little on ethereum. Someone wants to buy the NFT ownership on 3 pictures my Dad has. The buyer is offering 1.5 ethereum for the 3 of them. This whole thing reeks of a scam to me. I am just curious if anyone in this community might have some knowledge on…
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We see delistings for monero left and right, but two high profile lightning wallets for bitcoin have also backed out of the Google Play store for Americans: Wallet of Satoshi (which is painfully easy to use) and Phoenix wallet (self custodial, slightly higher learning curve). Then, of course, we have the creators of samouri wallet…
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Hi all Not to be pessimistic. Looking at the big players, most have been in the space for at least 3-5 years when the market was the wild wild west when good profit was made and big sharks have been buying cheap and long standing DCA. even if we have entered since last year via…
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From April 27 to May 4, 2024, non-fungible token (NFT) sales amassed $164.4 million, reflecting a 30.16% decrease compared to the previous week. Leading the field in blockchain sales, Bitcoin-based NFT sales totaled $56.81 million, experiencing a 41.57% drop from the preceding week. Bitcoin and Ether Lead in Volatile NFT Market; Weekly Sales Down 30% […]
Bitcoin market participants are doubting the staying power of the ongoing BTC price relief bounce.