Crypto Breakdown

TODAY BENZINGA GLOBAL FINTECH AWARDS

Watch Here LIVE

Episode Summary

Today On Crypto Daily:

• Huge All Time High Levels for Bitcoin
• Where does Bitcoin go from here?
• Discord CEO teases Ethereum integration

#BTC, #ETH, #DOGE

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody. Happy Tuesday. My name is Joe Dewitt and this has Benzinga crypto daily. Taking a look over at Bitcoin we're up three and a half percent today sitting in about 67,800.

And Bitcoin has established new all time highs. This is huge. Just previously breaking out of that resistance level of about 65,000, where our previous, all time high was ideally after this little breakout price, retest that resistance level that we flipped to support. And then bounce off of there to continue trending with that 50 day moving average and the upwards direction and taking a look over at a theorem discord as CEO teases integration with meta mask, a popular wallet on the Ethereum network, taking a look over at a theory and price action.

A theorem is also reaching all time highs. We were sitting at 2% up today at a price of 4,800 dirham continues to gain momentum and move farther away from that 50 day. Moving average. Keep in mind guys, the farther we move away from that moving average, eventually it will be time to retest, but for the short-term to mid-term, this is very, very bullish for Ethereum.

As we've been establishing higher lows here since July and taking a look over at doge coin, doge coin is looking good. It looks like it's going to solidify its uptrend. We have about three higher lows here since the end of September. Those point looks like it is about to break out of a little bit of consolidation here and move above that 200 day.

Moving average. If price can get that momentum. Bit of volume here to push above that moving average, we can see price up to 30, 35 cents. And today, guys, I want to discuss, is this a pivotal point for Bitcoin, given the technical analysis of the daily chart and general market sentiment behind Bitcoin? This is absolutely pivotal.

As we have broken all time highs, we've been establishing a higher lows since July and that point of breaking all time. Highs is definitely very pivotal for prices. That means that there is no resistance target here. Price is completely undiscovered and price action is more prone to breaking out as there's minimal support and resistance here in these zones, given the volume coming in the current macro trend of higher lows and the reason breakout of all time.

It would not be surprising at all to see price within the 80,000 -90,000 rained within the next few months that is given that volume continues to come in and institutional investors continue to buy Bitcoin. Best outcome we could have here would be to continue our higher, low trend, see price climb about 15, 20%, and then consolidate for a week or two for people to establish price before breaking out again.

And that's all the time we have for today. Guys, thank you so much for tuning in, make sure to follow and subscribe to our podcast. You can follow me on Twitter, which will all be in the script. I have a nice day.

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

BENZINGA GLOBAL FINTECH AWARDS

Register Here Now for November 9 2021

Episode Summary

Today On Crypto Daily:

• Dogecoin breaks out!
• Ethereum has plenty of room to rally
• Coins that saw 50% gains in the past week

 

#BTC, #ETH, #DOGE, #LRC, #CRO

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey, everybody hope you had a wonderful weekend. My name is Joe Dewitt, and this has been Zynga's crypto daily. Taking a look over at Bitcoin guys.

This was an absolutely amazing weekend. We were up 6% today for Bitcoin price, decided to rally and break out of that consolidated. Heading back towards that 65,000. There's currently a good one. A volume coming in momentum is upwards trending. We're moving away from that 50 day. Moving average. This is looking like a prime breakout for Bitcoin.

If we can get above this previous, all time high of just about 66,800. That would be a very bullish sign for Bitcoin. Moving over to a theory of Ethereum also looks absolutely fantastic. Ethereum is up two and a half percent today, although its daily chart is looking amazing. It has been, uptrending a sense to beginning of October.

We're moving away from that 50 day, moving average, establishing new all time highs every day. There is a lot of breakout room for a theory I'm here. Um, considering that they have not yet rolled out theorem 2.0, there is still plenty of room for growth. We can expect a little bit of sideways movement in the upwards direction as we start heading towards that unveil.

But with the release of 2.0 and the implement of staking on the Ethereum network, that should absolutely drive up price. Now, moving over to a dose coin, doge coin is also starting to break out of its downwards consolidation. We have a nice green volume node today. Getting some volume coming in, people were deciding to buy at those point up 6% today.

Headed towards that 30 cent price target. If dos coin can break above this 50 day moving average. 28.50 cents within the next few days here, that would be a very nice sign for dose coin and price would most likely continue heading up towards that 35 47 zone price continues to break down and we'll be falling towards that 50 day.

Moving average, putting price somewhere over at the 22 cent area. And today, guys, I'm going to talk about a few coins that had over 50% gains last week. The first crypto being Lupron, ticker LRC. Which is designed for building decentralized cryptocurrency exchanges rose 127% last week. The second coin being crypto.com coin ticker, C R O, which is the native token for crypto.com, which is a decentralized open-source blockchain, crypto.com coin.

It rose 79%. Over the last week. They also reached an all-time high at 40 cents. Last. And the last one I want to talk about today would be helium, ticker, H N T, which is another decentralized blockchain based network, which rose 57% in the last week. This Helion growth was due to a partnership announcement with 5g.

They're going to build 5g networks with additional work corporation, which is super cool partnership for them. So keep an eye out for that integration. Is that. Lead to more upwards momentum. That's all the time we have for today. Guys. Thank you so much for tuning in, make sure to follow and subscribe to our podcast.

And you can follow me on Twitter.

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary

Today On Crypto Daily:

• Should You Buy Bitcoin? What the volume levels and RSI tells us
• Solana secures funding

 

#BTC, #ETH, #SOL1

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

 My name is Joe Dewitt and this has been Zeno's crypto daily, jumping straight into it.

Taking a look over at Bitcoin. Bitcoin is continuing to struggle to read. All time highs. Although I do like to see that the red volume nodes are actually much smaller than the green volume nodes indicating that there is more momentum in the buying direction than there is selling. This is a nice indication for Bitcoin as we should revisit those all time highs in a matter of no time, ideally breaking out of that consolidation within the week and taking a look over at a theorem.

Ethereum is looking fantastic. And as I discussed yesterday, it is doing the best possible thing. Doing it is retouching down on the support level, um, which was previously the all-time high resistance, which now flipped support after we got above that level. If we can touch down on. Um, with a level of 4,380, and then bounce from there up into new all-time highs.

That would be ideal. Although there could be a retest and we could fall below that putting price under 4,300. Now taking a look over at Solano, I want to talk about Selana today because the graph looks absolutely amazing and they just secured 21 million in funding to build their browser based blockchain games, taking a look over at the chart.

Recently, it broke out of a nice little consolidation into a run here from about $200 up to 240. Um, Islam has had great momentum for about a month. Now. It's been riding that 50 day, moving average. It bounced off of that 50 day, moving average like textbook and right up to that all-time high level for a test price consolidated from there, and then broke out up into new all-time highs.

Ideally, this will contest back down to that previous, ultimately. Flip just a port and we will bounce off there up into the $280 zone. And today, guys, I'm going to talk about, is this a bullish or bearish level for Bitcoin given market sentiment and momentum? Currently? I would say that this is absolutely a bullish point.

Bitcoin. As I previously discussed, there are larger green volume nodes, meaning that there's more volume coming in on buying purchases and there are selling so more people want to be buying Bitcoin than selling. That is a great market sentiment. Our trends are looking great. We have higher lows established.

The only concern I would have for a bearish trend is if Bitcoin price struggles to revisit all time highs and pre. Breaking down below that 58, but until then, momentum is fine and we are still uptrending up into new all time high territory. Also, we have a nice RSI indication of about 60% meaning 60% over bought and RSI just means relative straight index.

So it is one of the most common indicators and technical trading, and it just evaluates the price of an. Relative to previous price. So it calculates if something is overbought or oversold. So we do have a little bit of room for correction, maybe a few thousand dollars down to 60 to 63,000, and then we should be looking fine right after there.

That's all the time we have for today, guys. Thank you so much for tuning in, make sure to follow and subscribe to our podcast and follow me on Twitter, which will all be in the description. Have a great weekend quickly. I just want to say that this is not financial advice. I encourage everyone out there to please do your own research before investing in cryptocurrencies, as they are very volatile assets.

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary

Today On Crypto Daily:

• When To Buy Ethereum? Bullish and Bearish Signs to watch for

#BTC, #ETH, #DOGE

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody, happy Thursday. My name is Joe Dewitt and this has been Zynga. Is crypto. Bitcoin's network activity has rose to 1 million active users for the fifth day in a row.

Taking a look over at Bitcoin price action. We are down 2%. This morning. Bitcoin has continued to consolidate sideways. It looks like people are getting hesitant to revisit those all time high. Although Bitcoin sentiment is very strong. We should see a revisit towards that 64,000 and no time. Although if people continue to be hesitant and price continues to consolidate will, but if price action does continue to consolidate, we'll be heading down towards that 58,000 and looking for a bounce off of there.

Taking a look at a theorem. Ethereum is looking great after just previously breaking all time highs. Ethereum currently sitting at 4,525. We have kind of a small red candlestick here indicating that there is a little bit of hesitation as that is common with breaking all time highs. The best thing that Ethereum can do here would be to retest that current resistance and flip that as support touchdown on there before entering a new zone of new all time.

Taking a look at doge coin dose coin has just been consolidating for a number of days. Now, although if this does establish a low here, then we will be on our third higher, low as an uptrend, which would be great for dos coin. If price continues to fall down towards that 50 day moving average, that will be a bearish indication for dose.

And today, guys, I'm going to talk about current Ethereum market sentiment. And if this is a bullish or bearish zone for a theory, Taking a look at the chart and some technical analysis. While considering that we just previously broke all time highs. I would say this is absolutely a bullish zone for Ethereum.

There's been no sign of slowing down. Volume is coming in. Market sentiment is great with all the projects currently out on a theorem. If this current candlestick can close, if current price can continue to hold where it is, and this candle set closes at a doji or a relatively small red candle. That will be a very bullish sign for Ethereum as that means that people are not ready to be selling their theories shares, as it means people are ready to rally the price higher.

Really. We should have no concerns of a bearish trend until we see a theory and fall below that 3,900 level. And that's all the time we have for today. Guys, thank you so much for tuning in, make sure to follow and subscribe to our podcast. And you can follow me on Twitter, which will all be in this script.

Have a good day quickly. I just want to say that this is not financial advice. I encourage everyone out there to please do your own research before investing in cryptocurrencies, as they are very volatile assets.

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary

Today On Crypto Daily:

• 3 Coins That Performed Really Well in October
• Bullish Signs to watch in Ethereum
• 
  

#BTC, #ETH, #DOGE, #ELON, #SAND, #FTM

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody, happy Wednesday. My name is Joe Dewitt and this is Benzinga crypto daily. Taking a look at some Bitcoin news Francis Suarez Miami's mayor is to become the first us politician to take.

Salary and Bitcoin regarding price action. Bitcoin is still bouncing between that 58,060 $4,000 zone. Hopefully Bitcoin can gain a little bit of volume and momentum here the next few days to break above that all time high. If Bitcoin fails to break that all time high, we will continue consolidating down towards that 58,000 level zone.

Taking a look at a theory, a theory. Absolutely amazing. We actually broke all time highs yesterday, which is a huge deal. You're currently sitting at $4,500, ideally in a situation like this after just recently breaking all time highs, the best thing to do would turn that all time high resistance and to support if this.

Daily candlestick can close above that previous resistance level. That would be a very, very nice bullish indication for Ethereum. If this candlestick does close below that previous resistance, we will be consolidating downwards so that 3,900 looking for a retest back up to the previous, all time highs and finally taking a look at dos coin doge coin looks like it has been consolidating for.

Days. Although I do like to see this very large green candlestick here with extremely large volume coming in on that day, that was a very nice bullish indication. Considering the days following have been a majority red candlesticks, um, with very low volume, which means volume is decreasing. The selling positions.

So if Dosequin can break out of this consolidation above that 200 day moving average and gain that same volume on green days as it has been, we should be looking at an uptrend here with a target of about 35 cents. And today I'm going to continue where we left off yesterday and I'm going to discuss a few.

Earners and October the first one being doge, Lon, a Mars, ticker Elan. This is a complete meme coin. Uh, it has been up 3,500 in the last 30 days, which is absolutely ridiculous. It looks like a bubble and we should be expecting price corrections with there. The first coin being doge lawn Mars, ticker Elan, which is an absolute meme coin.

This token has rose 3545%. And the month of October and here with doge lawn and Mars, we can expect a large correction as prices heavily inflated here. Another top earning coin in October, it would be the sandbox, ticker sand sand rose, 108% in the month of October, the sandbox is working on their own virtual metaverse and sand is their governance token.

And the last top point. Tober would be Phantom ticker, F T M. Phantom is a open source smart contract platform that helps scale. A theory of transactions. Phantom is up 107% in the month of October. Ideally, we'll see that price, correct. A little bit, maybe 20, 30% as that is a very large gains in 30 day period.

And that's all the time we have for today, guys. Thank you so much for tuning in, make sure to follow and subscribe to our podcast. Follow me on Twitter, which will all be in the description. Have a good one 

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary

Today On Crypto Daily:

• Is Ethereum Just Shy of ATH? 
• Bullish Signs to watch in Ethereum
• Top 3 Coins That Performed Really Well in October

#BTC, #ETH, #DOGE, #LINK, #MANA

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary

Today On Crypto Daily:

Why Did Binance Suspend All Bitcoin Withdrawals?

Bullish Signs to watch in Ethereum and Dogecoin.

Will Dogecoin reach $1 - What the people say: https://twitter.com/Benzinga/status/1453739342409596931

Repy in Twitter Thread: https://twitter.com/Benzinga/status/1453739342409596931

#BTC, #ETH, #DOGE

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey, everybody happy Monday. Hope you all had a wonderful weekend. My name is Joe Dewitt and this has been Zynga's crypto daily.

Oh, should I got to find this tweet?

So it does have this tweet up and then I have fricking lost at looking at.

First off Bitcoin magazine. First off Bitcoin magazine, just announced that Binance is.

Announced that Binance is suspending all Bitcoin withdrawals. Um, most likely this is probably due to them upgrading their infrastructure. Maybe they think that price action is going to rally taking a look over at price. I had just been a quiet weekend for Bitcoin, just a little bit of a consolidation in the sideways direction.

This hesitation on Bitcoin makes me think that price action is going to fall down to that 58,000 as people become more hesitant. We have not seen that volume that we would like this.

So most likely we're going to come down to this 58,000 for a retest before revisiting those all time highs. Um, ideally we do not fall below that 58,000.

Taking a look at Ethereum. Ethereum is looking good. Um, we are currently at touching the top of that resistance at 4,360. Uh, I shouldn't say like that. Taking a look over at Ethereum. Ethereum is looking good. We are currently touching resistance at 4,370.

This all time resistance. Mark has been crucial for us. We have tested it a number of times

and even broke through all time highs, but that quickly turned into a red candle.

The volume here on Ethereum is looking slightly more promising. So if we could get that volume coming in with this green candlestick, that would be a very bullish sign for Ethereum.

Taking a look over at dos coin. Doge coin is looking solid, looks like it could potentially pump it. Had that long run on the 28th. And we have just been consolidating and the downwards direction. This weekend volume is not there. Although we are in between 200 day and the 50 day moving average testing.

The top of that 200 day, we have also established a few higher level. So if price action for doge coin can get on top of that 200 day and use that as support,

that would be extremely bullish for doge coin and we'd have a target of about 35 cents there.

And today, guys, I'm going to discuss the results of our survey that we posted on the official Benzinga Twitter last week, Friday. Um, 41% of everyone said that yes, dose coin can go to $1. Oh, should I, should we say that? Didn't even say.

And today I'm going to discuss the results of our poll that we posted on the Benzinga Twitter. Last week, the question was can doge coin reach $1 as we discussed in our podcast, 41% of you all said, yes, 45% said no, and 14 per cent were somewhere there in the. As we discussed dos coin, going to $1 would imply a four times market cap putting dos coins market cap at roughly 145 billion.

That would be making it the third largest crypto by market cap, which seems extremely unlikely. Although with the growth of the entire crypto market may not be impossible.

Hmm.

I'm curious to see all of you that voted yes. That those coins can reach to a dollar. I want to hear your opinions behind that.

Um,

um, And for all the individuals that say that, or for all the individuals that think doge coin could reach $1, please reply to our Benzinga post today. Um, give us a reason on why you think doge coin could potentially reach $1 in the near future.

That's all the time we have for today, guys. Thank you so much for listening. Make sure to follow our, uh, rumor Kenzie wars. That's all the time we have for today, guys. Thank you so much for listening. Make sure to follow and subscribe to our podcast and you can follow me on Twitter, which will all be in the description below.

Have a good one.

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary

Today On Crypto Daily:

You asked we answered!

• What is the difference between Crypto and Blockchain?
• What is proof of work ?
• What is proof of stake?

#BTC, #ETH, #DOGE

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everyone. Happy Friday. My name is Joe Dewitt and this is crypto daily. Jumping straight into it. Taking a look at Bitcoin yesterday's green candle stick closed above the previous red candle stick. Today, we are looking solid. We are looking towards an uptrend towards our all-time high of 64,000. It looks like Bitcoin is losing a little bit of volume.

If we can continue to see that volume coming in, though, that would be a nice, a bullish sign. We will need that volume momentum to get back towards that 64 60 $5,000 zone. If we fail to see this volume, come in, that may be a sign for a little bit of consolidation for Bitcoin. Taking a look at a theorem.

Ethereum looks good at this daily candlestick actually broke all time. Highs just barely, just by a few dollars. We quickly came down as price was contested. Ideally if market sentiment can stay strong. Volume can continue to come in with a theorem. We should get above that 4,400 level. If Bitcoin starts consolidating and momentum is lost theory and will be falling back towards that 4,000 levels zone.

The doge coin chart is looking good. It looks like we are trending in the upwards direction. After yesterday's large green candlestick today is going to be a small pullback as people hesitate as price. It looks like now price is holding that 200 day moving average at 28 cents. If dos coin price action can continue to hold that 200 day moving average.

We should bounce off of their back to that 35 cent zone looking towards an uptrend. And today I'm going to answer a question we have here at Penn Zynga, our cryptos and blockchain. The same on this is a very common question and misconception. Um, crypto and blockchain aren't necessarily the same, but crypto.

Cryptocurrency are built on blockchains. So a crypto is an actual, what crypto means is cryptocurrency. So that is actually speaking of the asset itself. Blockchain in itself is a database. So it's essentially a collection of information that is stored electronically through the decentralized computers.

And the, the blockchain is kept secure through different consensus mechanisms. Um, the two most prevalent being proof of work and proof of stake, proof of work where, um, computer power is used to verify transactions and proof of stake is where it liquidity is used to verify transactions. Both of these mechanisms are used to achieve agreement and security throughout the entire network.

These are what allow blockchain to stay so secure. So crypto are built on blockchain, but they are not exactly the same. That's all the time we have today. Guys. Thank you so much. Make sure to follow and subscribe to our podcasts, which will all be in the description. Have a great weekend 

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Watch The Benzinga Global Small Cap Conference live here

Episode Summary

Today On Crypto Daily:

You asked we answered! Will Dogecoin Reach $1?

• Bitcoin
• Ethereum
• Dogecoin up 25% today!

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Everybody happy Thursday. My name is Joe Dewitt, and this is crypto daily. The president of El Salvador announced that they just purchased another 420 Bitcoin bringing their total amount of Bitcoin to 1,120 current Bitcoin price looks great. Currently up 4% this morning, we have a large green candlestick today, which has close to a bullish engulfing.

They bullish engulfing. If you were unaware is when a green candlestick covers the entire previous candlestick, but price held that 58,000 level support. Great. We bounced off of that. Heading back up to that, all-time highs on a. T 4,000, if volume can continue coming in and we can continue this momentum, we should be revisiting that all time high and no time.

Taking a look at a theorem. Ethereum is following Bitcoin closely as its daily candlestick looks very similar to the Bitcoin chart. We are also up three and a half percent today for Ethereum. Ethereum slightly fell below its level of support of around 3,900, but quickly got bought up right back into that zone.

And now we are on track headed back towards all time highs of about 4,300. Ideally for Ethereum, I would like to see a little bit more volume coming in to get that upwards momentum. If not, we most likely will to start to consolidate here and taking a look over at doge coin. Doge coin also looks fantastic this morning.

We were up 25% with a humongous green candle. This candlestick actually got above the 200 day moving average. So if this green candlestick can close above the 200 day moving average, that would be a very bullish sign. We would need to hold that level of support. Um, as we make our way towards that 35 sentence.

If price struggles here with the 200 day moving average, we might fall below putting our price back to 20 cents and retesting that 50 day moving average. And today, guys, I'm going to answer a question we have here at Benzinga. How likely is it for doge coin to reach $1? Keep in mind guys, this is not financial advice, just my personal opinion, but I would say that it's very unlikely for those coin to reach $1.

This is because the current market cap for those coins is about 40 billion. So far doge coin to go to $1 that would mean a market cap of 140 billion, essentially four times in which would put the market cap of dos at the third largest cryptocurrency by market cap, which seems extremely unlikely.

Considering Binance has a market cap of 76 billion and car 66 billion Solano 57. These are all, these are all chains with actual use cases. Some of them being layer one, um, and these coins actually have their own use cases. At the end of the day. It is not completely impossible to see those corner to dollar, maybe after a long period of time and some crypto market growth, but for the time being in the perceivable, $1 for doge coin does not look realistic anytime soon.

That's all the time we have for today, guys. Thank you so much. Make sure to follow and subscribe to our podcasts. Follow me on Twitter, which will all be in the description below. Have a good day quickly. I just want to say that this is not financial advice. I encourage everyone out there to please do your own research before investing in cryptocurrencies, as they are very volatile assets.

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Watch The Benzinga Global Small Cap Conference live here

Episode Summary

Today On Crypto Daily:

You asked we answered! How To Trade The Bitcoin Dip:

• Bitcoin
• Ethereum

Plus: SHIBA IS RUNNIN! Shiba Inu UP 35% today.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy