BTC, ETH both back on the rise

Bitcoin rose 5% over the past 24 hours to $35,000 as of early Monday morning just before the break of dawn. Stiff resistance ensued as the first rays of light stirred roosters on the east coast. And in one hour between 6 a.m.-7 a.m. (EST), BTC slipped 1.5% to $34,100.

The price of the largest crypto has "not yet closed a daily candle beneath $31,500 since the market tanked," CryptoPotato said, noting that despite choppy conditions, a larger picture remains: since May 19th, BTC is stubbornly ranging between $30,000 and $42,000.

Ethereum, meanwhile, as of early Monday had risen 8% to get back above $2,000.

China has forced numerous Bitcoin miners to flee to other countries, with many of these migrations yet to be fully sorted out, which has prompted some industry members to predict an eventual uptick for the network hashrate over time.

But right now that is definitely not the case.

Bitcoin hashrate is a calculated numerical value that specifies an estimate of how many hashes are being generated by Bitcoin miners trying to solve the current Bitcoin block or any given block. A well-equipped miner can do 100 million million hashes (tera hashes) per second.

The total hashrate on network currently sits at 101.9 TH/s. The last time the network saw a hashrate that low was at the beginning of last June (BeInCrypto).

The decline has pushed the block generation time (on average, 10 minutes) to the highest in 11 years – 23 minutes.

A low hashrate can make miners more profitable, a bullish signal.

When Dogecoin co-founder Billy Markus cashed out of his memecoin creation in 2015, the then-32-year-old wound up with barely enough proceeds to buy himself a used Honda Civic.

Right around that time, DOGE hit a low of $0.00008690. It eventually would increase by roughly 280,000%. Of missing his billionaire’s boat, Markus recently described himself as being "half detached" about the whole thing but astounded that a lark on which he spent all of a few hours is now part of the culture.

After sitting on the sidelines, working for a Bay Area education company, Markus, about one week ago, tweeted about buying some DOGE, this after swearing to himself he never would.

DOGE has declined 15% since. But Markus insists he is holding tight.

Daily Hodl, citing views from veteran trader Peter Brandt, described a difficult path ahead for the sixth-largest crypto.

But DOGE remains defiant. As of Monday morning at 7 a.m. (EST), it had risen 3% over 24 hours to about $0.25.  

DOGE, Brandt said, is creating a head and shoulders formation, a pattern indicating that a trend reversal is on the horizon, and that a move below support of $0.15 would confirm start of a DOGE bear market.

Still, the memecoin market continues to shock and awe – with a lot of help from its friend, Elon Musk.

The electric vehicle/spaceflight mogul tweeted on Friday that his “Shiba Inu will be named Floki.” This causes SHIB to surge 25% and even led some clever soul to nearly instantaneously create a new token, Floki, which reportedly rocketed 3,500%, spurring an eruption of knock-offs – and widespread warnings about their potential to be pump-and-dump perpetrations.

The past few weeks have demonstrated that even when crypto craters, meme/dog tokens continue to be popular (Benzinga).

Erik Finman remains a big believer in Bitcoin.

The 22-year-old Idaho native has been lavished with attention over the years after he became a teenage millionaire, amassing BTC when it was $10 and he was 12. Legend holds, Business Insider has said, that Finman’s grandmother gave him $1,000 in 2014, and that he used the money, earmarked for college, to purchase about 100 BTC. These days, Finman holds more than 400 BTCs worth about $40,000 each.

"If you do not become a millionaire in the next 10 years, then it’s your own fault," the Silicon Valley-based technology investor said.

Finman, while dabbling in crypto since the age of 12, did not become a millionaire until he was 16.