Bitcoin, the leading cryptocurrency by market value, rose to nearly $63,500 during North American hours, probing a downtrend line characterizing the pullback from late September highs above $66,000, according to data source CoinDesk and TradingView. Prices topped $63,400 late Friday but failed to sustain the move and dipped to $62,400 early today.

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world.

A cryptocurrency analyst and trader is saying that Ethereum (ETH) is primed to fall to levels last recorded in late 2023.

The analyst pseudonymously known as Capo tells his 104,092 Telegram subscribers that Ethereum could fall by over 26% from the current level.

“Ethereum has been ranging between $2,000 and $2,800 for two months. It appears to be an accumulation range. However, as mentioned in recent days, it is likely that we will see one final shakeout before an expansion, to $1,800 – $2,000 (the spring phase of the accumulation schematic).”

Ethereum is trading at $2,430 at time of writing.

According to the pseudonymous analyst, an Ethereum collapse could lead to altcoins plummeting, consequently increasing the chances of a proper altcoin season kicking off down the road.

“If that potential shakeout occurs, altcoins should dump 20% – 40%, a ‘capitulation candle’ similar to the Covid crash. Don’t get scared if that happens. It would probably be one of the best buying opportunities in months.”

Turning to Bitcoin (BTC), Capo says the recovery of the flagship crypto asset to above $60,000 earlier this week after pulling back to under $59,000 appears to be a “dead cat bounce.” A dead cat bounce is an uptick in the price of an asset after a downtrend which gives a false sense of a rally but then is followed by another leg down.

Says Capo,

“First move done.

Now we should see a local top formation around here and bearish continuation this week.” 

Bitcoin is trading at $62,275 at time of writing.

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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 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.

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