Bitcoin continued its downward trend over the weekend as well, approaching $40,000 for the first time in nearly three months. The main culprit behind the slump in crypto prices is the Fed’s decision to withdraw massive liquidity, which has been pumped into markets since the onset of the coronavirus pandemic. Higher capital in markets allowed investors to take positions in risky assets and pushed stock market indices to unprecedented highs.
However, blazing inflation, which the Fed at first believed to be transitory, has persuaded the Fed to wind down its quantitative easing measures at a much faster pace than investors had initially expected. This decision has been deemed unfavourable for risky and speculative assets such as cryptocurrencies.
On the other hand, investors should also keep in mind that, looking at Bitcoin’s historical price action, the $40,000 level has proven to be a good support level for Bitcoin, and hence, investors should consider Bitcoin prices near the $41,000 mark as an opportunity to purchase the digital coin at bargain prices. This is because the outlook for cryptocurrencies remains positive as we move to a more digitised future.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | ![]() |
Bitcoin predictions | 90.8% | 4 | $26 284.93 | 0.40% | -1.58% | $512 450 303 832 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ![]() |
Ethereum predictions | 93.6% | 6 | $1 590.77 | 0.91% | -2.61% | $191 259 893 789 | ||
3 | ![]() |
Tether predictions | 94.8% | 1 | $0.999945 | 0% | -0.03% | $83 203 336 292 | ||
4 | ![]() |
Binance Coin predictions | 90.4% | 4 | $211.48 | 1.43% | -2.18% | $32 535 832 612 | ||
5 | ![]() |
XRP predictions | 89.2% | 8 | $0.503892 | 0.71% | 0.08% | $26 829 848 518 | ||
6 | ![]() |
USD Coin predictions | 94.8% | 1 | $1.000097 | 0.01% | 0% | $25 662 645 608 | ||
7 | ![]() |
Lido stETH predictions | 95.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
8 | ![]() |
Cardano predictions | 94% | 7 | $0.246497 | 0.97% | -2.26% | $8 657 571 831 | ||
9 | ![]() |
Dogecoin predictions | 94% | 6 | $0.061028 | 0.22% | -1.62% | $8 614 628 399 | ||
10 | ![]() |
Wrapped TRON predictions | 86% | 17 | $0.083146 | -0.31% | 0.29% | $8 453 971 571 | ||
11 | ![]() |
Solana predictions | 87.2% | 23 | $19.34 | -0.18% | -2.27% | $7 984 181 258 | ||
12 | ![]() |
TRON predictions | 88% | 20 | $0.084559 | 1.10% | 0.67% | $7 535 502 870 | ||
13 | ![]() |
Toncoin predictions | 62.4% | 79 | $2.15 | -2.42% | -11.06% | $7 377 709 332 | ||
14 | ![]() |
Dai predictions | 93.2% | 1 | $0.999944 | 0.04% | 0% | $5 347 589 340 | ||
15 | ![]() |
Polkadot predictions | 87.6% | 23 | $4.09 | 2.02% | -0.27% | $5 277 683 110 |
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2023 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.