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 | 71.6% | 54 | $28 321.68 | 2.28% | 8.48% | $547 363 076 214 | ||
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2 | ![]() |
Ethereum predictions | 78.8% | 39 | $1 817.69 | 3.62% | 5.68% | $222 437 708 965 | ||
3 | ![]() |
Tether predictions | 90.8% | 1 | $1.001105 | -0.07% | -0.18% | $78 572 798 041 | ||
4 | ![]() |
Binance Coin predictions | 70.8% | 51 | $325.66 | 0.31% | -1.61% | $51 419 192 454 | ||
5 | ![]() |
USD Coin predictions | 92% | 2 | $0.999778 | 0.08% | -0.02% | $34 416 346 579 | ||
6 | ![]() |
XRP predictions | 84.4% | 21 | $0.434678 | -3.53% | 17.51% | $22 147 264 021 | ||
7 | ![]() |
HEX predictions | 62% | 82 | $0.111054 | -9.71% | 27.40% | $19 257 973 692 | ||
8 | ![]() |
Cardano predictions | 74.8% | 44 | $0.367937 | -0.76% | 10.36% | $12 775 060 278 | ||
9 | ![]() |
Lido stETH predictions | 90.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
10 | ![]() |
Dogecoin predictions | 73.2% | 51 | $0.076721 | 1.67% | 2.49% | $10 178 610 379 | ||
11 | ![]() |
Polygon predictions | 76.8% | 47 | $1.15 | 2.04% | -3.24% | $10 016 033 654 | ||
12 | ![]() |
Solana predictions | 72% | 52 | $22.02 | 1.29% | 9.81% | $8 449 847 577 | ||
13 | ![]() |
Binance USD predictions | 93.2% | 1 | $0.999969 | 0.04% | -0.06% | $8 063 768 426 | ||
14 | ![]() |
Polkadot predictions | 72.4% | 49 | $6.33 | 2.46% | 0.91% | $7 401 853 780 | ||
15 | ![]() |
Litecoin predictions | 71.6% | 59 | $95.37 | 8.32% | 16.29% | $6 919 022 798 |
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