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A Senator from Alabama is introducing a new bill that could potentially stifle the government from restricting top digital asset Bitcoin (BTC) and other cryptocurrencies as investment options for 401(k) retirement plans.
Republican Senator Tommy Tuberville is unveiling the Financial Freedom Act of 2022, which would counter attempts by the U.S. Department of Labor (DOL) to exclude crypto assets as a choice for self-directed 401(k) plans.

The legislation would ensure that financial institutions and employers would not face legal troubles for offering virtual assets as a means of investment, according to a press release from Tuberville, who is a former college football coach.
“The [DOL’s] guidance attempts to bar 401(k) investors from investing in cryptocurrency and undermines the ability of 401(k) plans to offer brokerage windows, which give retirement plan participants the ability to personally control how their assets are invested. 
The guidance threatened that employers and investment firms could be subject to a DOL investigation and enforcement actions should they allow individuals using brokerage windows to invest in cryptocurrency.
 Senator Tuberville’s legislation would empower retirement savers to invest as they see fit and ensure that plan sponsors and financial firms are not punished for allowing investors to exercise financial freedom.“ 
Another US Congressman, Representative Byron Donalds of Florida, also recently introduced the House of Representatives’ version of the legislation.
“Today, I introduced the House companion of the Financial Freedom Act of 2022. This bill prohibits [the DOL] from restricting the type of investments that self-directed 401(k) account investors can choose.”
The DOL initially issued a warning in March about financial service firms exposing 401(k) participants to digital assets, citing volatility, uncertain valuations and an evolving regulatory environment as key reasons for concern.
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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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The post US Lawmaker Introduces Bill To Protect Bitcoin (BTC) 401(k) Investments appeared first on The Daily Hodl.


A Senator from Alabama is introducing a new bill that could potentially stifle the government from restricting top digital asset Bitcoin (BTC) and other cryptocurrencies as investment options for 401(k) retirement plans. Republican Senator Tommy Tuberville is unveiling the Financial Freedom Act o...

dailyhodl.com

US Lawmaker Introduces Bill To Protect Bitcoin (BTC) 401(k) Investments

The CEO of leading on-chain analytics firm CryptoQuant says one metric is flashing a massive red flag for Bitcoin (BTC) bulls.
Ki Young Ju tells his 292,600 Twitter followers that historical data shows Bitcoin could plummet all the way down to $14,000.

“So here’s hopium for bears.
If BTC crashed so hard due to the macro crisis and all Bitcoiner institutions go underwater, it could go $14,000 based on historical maximum drawdown.”
At time of writing, Bitcoin is down 3.58% and priced at $29,240. A move to the analyst’s bearish price target suggests a 52% downside risk for BTC.
According to the quant analyst, the most recent Bitcoin investors will likely be deep underwater should market prices fall into his worst-case scenario.
“Bitcoin maximum drawdown in worst-case scenario.
Newbies down 67%.
Experienced one bear cycle – down 39%.
Experienced two bear cycles – profit guaranteed.
Experienced three bear cycles – profit guaranteed.
Today, newbies who joined last year are in -34% loss.”
Source: Ki Young Ju/Twitter
Ki Young Ju next provides the average entry price for each generation of Bitcoin investors over its 11 years in existence by following the UTXO age bands metric, which tracks the potential price level where long-term holders accumulated BTC.

#Bitcoin OG's Entry Price:
1st gen – $1.32nd gen – $6533rd gen – $8,7174th gen – $43,582
I'm the 3rd gen. Hang in there, 4th gen. pic.twitter.com/iWkEwFO4zV
— Ki Young Ju (@ki_young_ju) May 14, 2022

The analyst also recently observed that institutional investors are now the dominant force in Bitcoin trading.
“Retail investors are leaving the crypto market. Not bad for accumulating Bitcoin with institutions, but still worried about overall volume, which is significantly decreased compared to last year.”
The CryptoQuant CEO next looks at leading smart contract platform Ethereum (ETH). He highlights that the ETH ecosystem remains strong despite a massive decline in price due to heavy interest in new blockchain niches like decentralized finance (DeFi), non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs) and play-to-earn blockchain games (GameFi).
“ETH price dropped -56% from the top, but the number of active addresses just decreased by 7%.
If we consider each address as a user, Ethereum has 551,705 DAU (Daily Active Users) today.
These degens don’t care about ETH price but ape into DeFi, NFT, DAO, and GameFi projects.”
Source: Ki Young Ju/Twitter
Ethereum is also down by 2.57%, changing hands for $1,965.
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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.



Featured Image: Shutterstock/kilshieds
The post One Metric Indicates Bitcoin (BTC) Could Crash by Over 50% As Macro Environment Worsens, Says CryptoQuant CEO appeared first on The Daily Hodl.


The CEO of leading on-chain analytics firm CryptoQuant says one metric is flashing a massive red flag for Bitcoin (BTC) bulls. Ki Young Ju tells his 292,600 Twitter followers that historical data shows Bitcoin could plummet all the way down to $14,000. &#8220;So here&#8217;s hopium for bears. If ...

One Metric Indicates Bitcoin (BTC) Could Crash by Over 50% As Macro Environment Worsens, Says CryptoQuant CEO

A popular crypto analyst is digging into the charts to see what’s next for Bitcoin (BTC) as well as one enterprise-grade blockchain platform.
In a new post, Michaël van de Poppe alerts his 602,500 Twitter followers that he’s eyeing $29,300 as a key make-or-break indicator for Bitcoin.

“Still watching the level at $29,300 for Bitcoin.
If that sustains, I’ll see continuation happening on the markets.
If that’s lost, I’m looking to see whether we sweep the actual lows and hit $26,000.”
Source: Michaël van de Poppe/Twitter
Van de Poppe dives even deeper in a video strategy session where he tells his 166,000 YouTube subscribers that Bitcoin is likely to hold the critical window between $29,200 to $29,400.
“The chances that we’re going to get towards $32,834 and then still drop back to retest $27,000 [or] $28,000 is a very likely scenario in which you get a prolonged accumulation period for the markets.
Right now, I think that the odds are favorable, especially with the indices bouncing up and the DXY [US dollar index] showing weakness, that we’re going to hold $29,300. That is the crucial breaker for me, so this entire block at $29,200 to $29,400 is the one that I think that we should be holding.
If we are not holding that, we are sweeping these lows ($28,000) and then we are going to continue cascading south, and I’m expecting to test the lows, and then I’m looking at the bullish divergence to finalize the correction, and then I’m starting to attack longs again.”
Van de Poppe concludes his Bitcoin analysis by saying that after nearly two months of BTC trading negative, he expects the leading crypto asset by market cap to rise once again.
At time of writing, Bitcoin is down 2.5% and trading for $29,235.
Van de Poppe also takes a look at the Ethereum (ETH) competitor Fantom (FTM), which fell off a cliff on May 11th when most of the markets also bled heavily. The trader now wonders if FTM can join the altcoin rally he anticipates will soon take place.
“Everything looks to be making a breakout in the coming week.
In that case, some altcoins have been destroyed heavily and one of them is FTM.
Watching whether $0.325 can hold for support.
If that’s the case, a breakout above $0.36 – 0.38 leads to $0.45.”
Source: Michaël van de Poppe/Twitter
Fantom currently is up 6.05% in the last 24 hours and is priced at $0.35.

I
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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.



Featured Image: Shutterstock/Natalia Siiatovskaia/Art Furnace
The post Here’s What’s Next for Bitcoin and One Ethereum Competitor, According to Crypto Analyst Michaël van de Poppe appeared first on The Daily Hodl.


A popular crypto analyst is digging into the charts to see what&#8217;s next for Bitcoin (BTC) as well as one enterprise-grade blockchain platform. In a new post, Michaël van de Poppe alerts his 602,500 Twitter followers that he&#8217;s eyeing $29,300 as a key make-or-break indicator for Bitcoin....

Here’s What’s Next for Bitcoin and One Ethereum Competitor, According to Crypto Analyst Michaël van de Poppe

After reaching and briefly exceeding $30,000 yesterday, bitcoin was rejected and dropped by more than a grand. Most altcoins are also slightly in the red today, with ETH struggling beneath $2,000 and SOL down to $50. LUNA and UST continue to lose value.
Bitcoin Rejected at $30K
Ever since last week’s massacre, bitcoin has been unable to decisively overcome the coveted $30,000 level. In the past several days, it made numerous attempts but was halted in its tracks after each.
On May 16 and 17, BTC even spiked to $31,000 but was stopped on both occasions and fell back down to a familiar level. On May 19, the cryptocurrency dropped below $29,000, where the bulls stepped up and didn’t allow any further declines.
Just the opposite, bitcoin went on the offensive and jumped by $2,000 in a day to a daily high of $30,750 yesterday. However, the generally bearish market state resulted in another rejection, and BTC dumped by $2,000 in hours.
After bouncing off at $28,750 (on Bitstamp), bitcoin jumped above $29,000, where it’s currently situated as well. As such, its market cap has declined slightly to $560 billion, and the dominance over the alts is at 44.6%.
BTCUSD. Source: TradingView
ETH Below $2K, UST, LUNA Keep Plunging
The alternative coins have largely mimicked BTC’s performance as of late, and the past 24 hours brought some minor declines again.
Ethereum traded above $2,000 yesterday, but a 2.5% decrease has driven the second-largest cryptocurrency to just under that level as of now.
Binance Coin sustains above $300, and Cardano is north of $0.50 after insignificant daily retracements. In contrast, RIpple, Solana, and TRON have lost more value. Polkadot, Dogecoin, Avalanche, and Shiba Inu are also slightly in the red.
The never-ending drama surrounding Terra‘s two native cryptocurrencies continues, as both LUNA and UST have dropped by another 20% in the past 24 hours.
Ultimately, the crypto market cap is down to $1.250 trillion after touching $1.3 trillion yesterday.
Cryptocurrency Market Overview. Source: Quantify Crypto


LUNA and UST continue to drop by double-digit percentages per day, while BTC remains stuck below $30K after another rejection.

cryptopotato.com

Weekend Watch: BTC Rejected at $30K, LUNA and UST Dump Another 20%

Rich Dad Poor Dad author Robert Kiyosaki says he is long-term bullish on Bitcoin (BTC) but says BTC could drop a lot lower before carving a bottom.
The widely followed investor tells his 1.9 million Twitter followers why he believes in the long-term potential of Bitcoin even if BTC drops nearly 70% from current levels.

“I remain bullish on Bitcoin’s future. Waiting for test of new bottom. $20,000? $14,000? $11,000?  $9,000? Why do I remain bullish? [Because I believe that the] Fed and Treasury are corrupt organizations.”
Bitcoin is trading for $29,150 at time of writing, down by over 55% from its all-time high of around $69,000.
Earlier this week, following the de-pegging of the TerraUSD (UST) stablecoin, Kiyosaki recalled that he had questioned the validity of stablecoins, which are crypto assets that are designed to trade one for one against fiat currencies such as the US dollar.
“I was right: ‘Why STABLE COINS are UNSTABLE.’ Just before stable coins crashed I warned they were unstable.”
In a prior YouTube interview, Kiyosaki had expressed his doubts about stablecoins arguing that the issuers of stablecoins presented a counterparty risk as they could potentially default on their contractual obligations.
“One of the reasons I have gold coins, and I mean real gold coins, and real silver coins is there is no counterparty risk. I mean, they are the money. So when you say there’s a dollar somebody declares it a dollar and all that. Who’s the counterparty [in the case of stablecoins]? Is it the Wizard of Oz?”
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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.



Featured Image: Shutterstock/KDdesignphoto
The post Rich Dad Poor Dad Author Warns Bitcoin (BTC) Could Test New Epic Lows – Here Are His Targets appeared first on The Daily Hodl.


Rich Dad Poor Dad author Robert Kiyosaki says he is long-term bullish on Bitcoin (BTC) but says BTC could drop a lot lower before carving a bottom. The widely followed investor tells his 1.9 million Twitter followers why he believes in the long-term potential of Bitcoin even if BTC drops nearly 7...

Huobi BTC price	$29,171.00
Low - High 24H	$29,015.00 - $29,976.00
Market cap	$1.14B
Volume 24H	$225,312.00
All time high	$166,135.00 -82.47% April 21st 2022
All time low	$11,209.00 159.84% October 12th 2020
Genesis date	N/A

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