Tuesday, October 3, 2023

Digital Assets Could Be on the Verge of ‘Most Incredible Bull Market Ever,’ Says Crypto Analyst – Here’s Why

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A popular analyst says the crypto market could soon take off on its strongest bull market ever as adoption increases.

The anonymous host of InvestAnswers tells his 446,000 YouTube subscribers that two big developments in the crypto space will help push some digital assets to new all-time highs.

The analyst says that catalysts for the next massive bull run include top US crypto giant Coinbase’s newly launched Base, an Ethereum (ETH) layer-2 scaling solution, and PayPal’s new stablecoin PayPalUSD (PYUSD).

“You got the combination of Base from Coinbase, TradFi (traditional finance) you could argue [since it’s a] centralized exchange. And you got the PayPal stuff happening, deploying on Ethereum. Things are really getting exciting ladies and gentlemen. This could be the most incredible bull market ever.”

The InvestAnswers host also says that Solana (SOL) just hit a golden cross and predicts the Ethereum competitor will continue to make moves to the upside.

“Solana just hit a golden cross a couple of days ago, and it shot up 10%. In fact, it’s up probably another big percentage today. And what’s going on with the Solana thing? I think it’s up another 7% today. Shot up a $1.50. But those golden crosses do matter.

And you don’t want to get into a short position after a golden cross because 60% to 80% of the time the price does go up after a golden cross, and that’s when the 50-day moving average crosses through the 200-day moving average.”

Solana is trading for $24.35 at time of writing, down 0.6% during the last 24 hours.


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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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