A top analyst who accurately called the end of the 2022 crypto bull market thinks Ethereum (ETH) is poised to rally in both its Bitcoin (ETH/BTC) and US dollar pairs.

Pseudonymous analyst Pentoshi tells his 826,200 followers on the social media platform X that ETH/BTC looks good after respecting its support at 0.30 BTC.

According to the crypto strategist, ETH/BTC may bounce to as high as 0.4597 BTC.

“Very promising start.

Let’s see if we can get to the target.” 

At time of writing, ETH/BTC is trading for 0.0373 BTC worth $3,563.

As for Ethereum against the dollar, Pentoshi thinks it is within the realm of possibility for ETH to surge above $4,000.

“No reason this doesn’t challenge this year’s highs, or higher in my opinion.

Which likely has confluence with the ETH/BTC target posted.”

He also thinks that the rally will be driven by investors allocating hundreds of millions of dollars in capital to ETH-based exchange-traded funds (ETFs).

“Starting to become more consistent for ETH. 

We could see a few $250-$500 million days at some point too in the near future for this [BlackRock ETH] ETF. Had a $91 million day just in the last week.

Probability of that you have to assume is very high and not far stretched at all.” 

Pentoshi is also keeping a close watch on the native asset of the graphics processing unit (GPU) rendering network Render (RENDER). The analyst says RENDER looks bullish after flipping a key resistance level at $8.10 as support.

“Was a very short wait, RENDER flipped it, retested, and confirmed on the four-hour [chart].

Structurally a great looking chart.” 

At time of writing, RENDER is worth $8.61, up over 8% in the past day.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

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 losses 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.

Generated Image: DreamStudio

An AI bot controlling $50,000 in crypto transferred the funds after a user successfully persuaded it to bypass its core directive: to never release the funds.

A user under alias p0pular.eth successfully claimed a $50,000 crypto prize pool after convincing an artificial intelligence bot named Freysa to transfer its funds, bypassing the bot’s primary directive to never release them. The victory, observed by software engineer Jarrod Watts, came after 481 previous attempts, all of which failed to persuade the bot.

The challenge, launched on Nov. 22, tasked participants with sending messages to Freysa in an attempt to convince it to release the funds. Each attempt required a fee. Of the total fee sum, 70% went toward the growing prize pool, 15% was converted from Ethereum (ETH) to the bot’s FAI token, and the remaining 15% went to the bot’s developer.

As the prize increased, the cost to send a message also rose, peaking at $450 per message.

Eventually, p0pular.eth — whose identity remains unknown — exploited a vulnerability in the bot’s internal logic for processing transfers by convincing Freysa that any incoming funds should automatically trigger the release of the prize. Once the message was sent to the bot, p0pular.eth successfully manipulated its logic for handling messages, causing the bot to transfer the entire pool of 13.19 ETH (approximately $47,000 at the time) to the user.

While some praised the emerging use of AI in the crypto space, others raised concerns about the protocol’s transparency, suggesting that p0pular.eth may have had inside knowledge of the trick or been linked to the bot’s development.

Bitcoin, the world’s largest cryptocurrency by market capitalization, is heading to the next target price of $100,000 after rising 33% in just a month, but Cardano’s founder projects beyond.

Founder of Cardano Charles Hoskinson projects that Bitcoin will reach the price target of $250,000 in just 2 years. He believes that the target price is the lowest target to achieve, yet the highest target is $500,000.

According to Hoskinson’s YouTube live video posted on Nov. 27, he noted that several factors would increase the Bitcoin price in the future, including the massive inflow into the crypto market as well as the institutional eyes that have been interested in Bitcoin in recent days.

“It is my believe that Bitcoin will go to quarter and half million dollars in the next 12 to 24 months, because of the investment inflow and and the great interest that has been achieved,” Hoskinson said.

He mentioned that Bitcoin as a value store of the internet remain useful for decentralized finance (DeFi) in the future. The DeFi mode, also known as the new capabilities of DeFi, could bring Bitcoin through the Cardano network so the holders could participate in the DeFi ecosystem.

Cardano’s outlook after Bitcoin rose

Cardano, as one of the biggest cryptocurrencies based on market capitalization, has grown in the past month following the rise of Bitcoin, increased 190% and reached a price of $1 for the first time after dropping in 2022. In the past 24 hours, the token was traded for $1.5 billion or dropped by almost 40%.

The market is also eyeing the possibility of Cardano spot ETF after several cryptocurrencies have already crypto product versions, including Bitcoin and Ethereum.

ADA projected would be bullish in the near future if the asset management pushes the ETF version to the Securities and Exchange Commission (SEC).