A widely followed analyst says that a gut-wrenching correction may be in the cards for the crypto king Bitcoin (BTC). In a new video update, crypto strategist Benjamin Cowen tells his 792,000 YouTube subscribers that BTC has a history of retesting previous macro resistance levels as support before climbing higher. According to Cowen, Bitcoin did […]
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Crypto analyst and trader Justin Bennett is warning that Bitcoin (BTC) still could undergo a massive market crash this cycle. Bennett tells his 110,700 followers on the social media platform X that the crypto king could decline by more than 74% from its current value if a black swan event triggers a severe correction. According […]
The post A Bitcoin Crash to $10,000 ‘Still in the Cards,’ Warns Crypto Analyst Justin Bennett – Here’s Why appeared first on The Daily Hodl.
A widely followed crypto analyst is issuing a warning about the second-largest digital asset by market cap. Veteran trader Peter Brandt warns his 707,300 followers on the social media platform X that top altcoin Ethereum (ETH) could soon see an epic crash that sends it below $700. “Classical chart patterns in price charts are not sacred […]
The post Veteran Trader Peter Brandt Issues Ethereum Alert, Says ETH Could Crash by up to 70% – Here Are His Targets appeared first on The Daily Hodl.
Bitcoin should “logically” be headed for a “sell-the-news” correction in January, according to analysts, but that doesn’t mean that’s how it’s going to shake out.
The price of Bitcoin (BTC) should “logically” undergo a correction once spot Bitcoin exchange-traded funds (ETFs) are approved, though commentators also concede that crypto is also a “wild card."
Bitcoin has been gaining momentum over the last 11 months, with a jump in March amid banking uncertainty, another spike in June when BlackRock filed for a spot Bitcoin ETF, and again in October, similarly due to optimism over spot Bitcoin ETF approvals.
On Dec. 3, Bitcoin cleared the $40,000 mark, its highest level in 19 months.
James Edwards, a cryptocurrency analyst at Finder, said that “logically,” the approval of a spot Bitcoin ETF should trigger a sell-off event.
“I'd like to say that logically this makes it a sell-the-news type event.”
“Buy the rumor, sell the news” is a phrase that describes a situation where a stock or asset rises ahead of anticipated positive news or events but falls once the news is confirmed or the event occurs.
The longer #Bitcoin continues to climb towards 50k without an ETF approval the more I think this could be a sell the news event.
— Crypto Caesar™️ (@crypto_caesar1) December 2, 2023
Not trolling.
“The idea that this is going to lead to widespread institutional buying on day 1 is a bit too optimistic,” explained Edwards, adding it is unlikely fund managers will “ape in the moment it goes live.”
Ava Labs CEO Emin Gün Sirer however stressed the firm is well-positioned with significant runway and resources at its disposal.
Ava Labs, the team behind the Avalanche Blockchain, has confirmed it laid off 12% of its employees in a recent wave of staff cuts, citing the need to reallocate its resources.
The firm’s founder and CEO Emin Gün Sirer confirmed the news on Nov. 7 after several former Ava Labs employees announced on X (formerly Twitter) they had been laid off.
“This reduction in force affected 12% of Ava Labs, and allows us to reallocate resources to double down on the growth of our firm and the Avalanche ecosystem,” Gün Sirer said.
Gün Sirer acknowledged that bear markets can be tough to navigate but iterated Ava Labs is well-positioned with significant runway and resources at its disposal.
Today we parted ways with some of our Ava Labs team members. We are no longer a 12 person startup, but we strive to capture the speed and energy of a small, nimble team.
— Emin Gün Sirer (@el33th4xor) November 7, 2023
This reduction in force affected 12% of Ava Labs, and allows us to reallocate resources to double down on the…
Ava Labs has 335 employees, according to LinkedIn, which suggests around 40 people were impacted.
Ava Labs vice president of growth and strategy Garrison Yang hinted that many of the layoffs came from the firm’s marketing team.
In an Oct. 6 post on X, former game growth marketing team-member Zach Manafort was among those revealing he was laid off. His departure comes despite being active in the Avalanche community since 2020.
It looks like my time at @AvaLabs has come to its end. Despite the recent layoffs, my time here has been filled with invaluable experiences and growth.
— Trading Aloha (@TradingAloha) November 6, 2023
As I transition forward, I am open to explore opportunities in marketing or operations.
My passion for these fields combined…
The layoffs came as a surprise to Manafort who thought “things were just getting started.”
Brandon Suzuki, who also previously worked in Ava Labs’ marketing unit, similar confirmed that he was laid off on Oct. 6.
Unfortuantely, I was let go from @AvaLabs this morning. If anyone has resources for web3 marketers, please let me know!
— Brandon Suzuki (@BrandonSuzuki_) November 6, 2023
The most recent round of layoffs comes only days after a 50% staff cut by nonfungible token marketplace OpenSea on Nov. 3.
Neil Dundon, founder of CryptoRecruit, told Cointelegraph that job openings are still hard to come by in the crypto industry, despite a recent uptick in crypto market cap.
“The Crypto market is still very tough unfortunately right now. Money is tight. VC has dried up.”
Dundon said there needs to be more signs pointing to a bull market before there’s any meaningful uptick in hiring again.
“This is how it has always behaved and it’s no different this time around.”
On the other hand, Kevin Gibson and Daniel Adler, the founders of Proof of Search and Cryptocurrency Jobs, both told Cointelegraph that they have seen a slight increase in hiring over the last few weeks.
Related: Searches for ‘AI jobs’ in 2023 are 4x higher than ‘crypto jobs’ when BTC hit $69K
Gibson attributed this to cryptocurrency firms acting under the impression that they may lose out on the talent pool when market conditions improve in 2024. He added:
“It is still an employer's market so we are encouraging companies to take advantage of this to keep building as it will be very different in 2024.”
Gibson noted that some of these positions were only 2-3 day per week roles as opposed to full-time positions.
Adler shared a similar sentiment:
“As we're approaching the end of the year, teams are doing a final hiring push and following through on their hiring plans and roadmap.”
Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in
A widely followed crypto analyst is issuing a warning that most altcoins are in the midst of severe downtrends that will ultimately keep them below their all-time highs forever. In a new video update, crypto trader Benjamin Cowen tells his 787,000 YouTube subscribers that most altcoins currently find themselves in “serious declines” that are being […]
The post Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’ appeared first on The Daily Hodl.
Widely followed crypto analyst Benjamin Cowen says that a lot of altcoins are being primed for another collapse some time this year without a recovery. In a new video update, Cowen tells his 787,000 YouTube subscribers that an “altcoin reckoning” is on the horizon – one that many crypto assets won’t ever come back from. […]
The post Many Altcoins Won’t Recover After Massive Collapse, Says Crypto Analyst Benjamin Cowen – Here’s His Forecast appeared first on The Daily Hodl.
New data from crypto analytics firm Santiment reveals that digital assets are hinting at rallies despite market conditions being rife with uncertainty. According to Santiment, “bear market” mentions on social media platforms heavily outweigh those of a bull market, causing the spread of fear, uncertainty and doubt (FUD). However, the market intelligence firm says that […]
The post Crypto Hinting at Rallies Amid Unpredictable Market Conditions, According to Santiment appeared first on The Daily Hodl.
A widely followed crypto analyst says that a massive crash for the leading smart contract platform is within the realm of possibility. In a new strategy session, crypto trader Benjamin Cowen tells his 787,000 YouTube subscribers that a freefall to the $400-$800 range is in the cards for Ethereum (ETH), the second-largest crypto asset by […]
The post Extreme Ethereum Crash Now in the Cards, According to Analyst Benjamin Cowen – Here’s His Target appeared first on The Daily Hodl.
A top crypto analyst says that Bitcoin (BTC) will see one more major dip before it has the chance of entering a new bull cycle. In a new video update, analyst Benjamin Cowen tells his 787,000 YouTube subscribers that the top crypto asset by market cap is due for another leg down before the next […]
The post Bitcoin (BTC) Will See One More Low Before Next Bull Market, Warns Benjamin Cowen – Here’s His Timeline appeared first on The Daily Hodl.
