Bitcoin seems to be regaining defensive status
Bitcoin has remained in position for the past few days, trading at $19,500 on Friday morning. As in previous days, the attempt to sell the cryptocurrency following the stock market was met with buying. This neat bottom-drawing by Bitcoin could show a wait-and-see stance and consolidation before the next move. However, crypto optimists are now siding with the positive momentum in gold and sector stocks. Investors have probably recalled them as a store of value amid the volatility in the currency market.
Among the closest key levels, the $20.8K where the 50-day moving average is located is worth mentioning. It has been playing an active role as resistance for more than a month. Local support is near $18.8K. A move outside this range could signal the end of the current consolidation.
News background
Billionaire Stanley Druckenmiller expects the US economy to deteriorate significantly by the end of next year. That's when cryptocurrencies could make a resurgence. Alexander Hoptner, CEO of cryptocurrency exchange BitMEX, said he does not see any decline in institutional investor interest in the crypto industry, despite the bearish trend.
Lastly, BlackRock has launched on Euronext, an exchange-traded fund (ETF) focusing on blockchain and cryptocurrency companies.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 80% | 31 | $44 191.65 | 2.28% | 14.09% | $864 601 373 120 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 80.4% | 36 | $2 384.27 | 1.22% | 13.64% | $286 631 337 595 |  |
|
| 3 |  USDT |
Tether predictions | 92.8% | 1 | $1.000286 | 0.02% | -0.01% | $90 361 522 312 |  |
|
| 4 |  XRP |
XRP predictions | 84.8% | 28 | $0.691977 | 7.73% | 12.59% | $37 337 342 228 |  |
|
| 5 |  BNB |
Binance Coin predictions | 86% | 17 | $244.21 | 4.75% | 6.78% | $37 045 963 060 |  |
|
| 6 |  SOL |
Solana predictions | 78.8% | 38 | $77.33 | 7.81% | 24.47% | $32 939 078 279 |  |
|
| 7 |  USDC |
USD Coin predictions | 96% | 1 | $0.999988 | -0.01% | 0.01% | $24 499 538 291 |  |
|
| 8 |  ADA |
Cardano predictions | 76.8% | 38 | $0.621468 | 30.58% | 60.61% | $21 949 609 212 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 70.8% | 53 | $0.104135 | 6.51% | 24.05% | $14 803 690 586 |  |
|
| 10 |  AVAX |
Avalanche predictions | 76% | 50 | $32.83 | 21.42% | 48.15% | $12 006 820 565 |  |
|
| 11 |  STETH |
Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 12 |  TRX |
TRON predictions | 94% | 7 | $0.108469 | 2.71% | 4.89% | $9 596 597 053 |  |
|
| 13 |  LINK |
Chainlink predictions | 76% | 38 | $17.23 | 7.97% | 9.25% | $9 592 622 058 |  |
|
| 14 |  WTRX |
Wrapped TRON predictions | 92.4% | 7 | $0.107924 | 2.30% | 4.39% | $9 548 377 600 |  |
|
| 15 |  DOT |
Polkadot predictions | 80% | 38 | $7.54 | 20.76% | 36.96% | $9 456 502 227 |  |
