Bitcoin continued its downward trend
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.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 82% | 25 | $58 212.93 | -2.74% | 2.96% | $1 149 991 835 476 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 76.4% | 46 | $2 306.12 | -3.33% | -1.66% | $277 517 977 475 |  |
|
| 3 |  USDT |
Tether predictions | 93.6% | 1 | $0.999674 | -0.05% | -0.04% | $118 746 447 563 |  |
|
| 4 |  BNB |
Binance Coin predictions | 78.8% | 33 | $535.38 | -3.78% | 3.59% | $78 130 067 520 |  |
|
| 5 |  SOL |
Solana predictions | 78.4% | 41 | $131.04 | -1.88% | -1.52% | $61 355 258 435 |  |
|
| 6 |  USDC |
USD Coin predictions | 94% | 1 | $0.999925 | 0% | -0.01% | $35 603 266 724 |  |
|
| 7 |  XRP |
XRP predictions | 76.4% | 37 | $0.579741 | -1.22% | 8.17% | $32 689 314 282 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 81.2% | 28 | $0.099815 | -5.28% | -3.49% | $14 571 279 977 |  |
|
| 9 |  TON |
Toncoin predictions | 70.4% | 59 | $5.42 | -3.35% | 4.82% | $13 737 152 570 |  |
|
| 10 |  TRX |
TRON predictions | 84.4% | 23 | $0.148564 | -0.28% | -3.82% | $12 879 108 076 |  |
|
| 11 |  ADA |
Cardano predictions | 79.6% | 35 | $0.330572 | -3.88% | -3.76% | $11 887 575 348 |  |
|
| 12 |  STETH |
Lido stETH predictions | 95.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 13 |  WTRX |
Wrapped TRON predictions | 91.2% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
|
| 14 |  WBTC |
Wrapped Bitcoin predictions | 96% | 1 | $65 806.83 | 0.78% | -2.68% | $10 083 957 608 |  |
|
| 15 |  AVAX |
Avalanche predictions | 74.8% | 52 | $23.50 | -3.94% | -2.49% | $9 536 183 213 |  |
