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 | 59.2% | 82 | $28 487.09 | 0.01% | 3.89% | $550 783 645 841 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 70% | 61 | $1 820.99 | -0.18% | 5.05% | $219 352 245 827 |  |
|
| 3 |  USDT |
Tether predictions | 96% | 1 | $1.000239 | 0.01% | -0.05% | $79 712 905 402 |  |
|
| 4 |  BNB |
Binance Coin predictions | 72% | 56 | $314.97 | -0.48% | -2.32% | $49 729 339 998 |  |
|
| 5 |  USDC |
USD Coin predictions | 93.6% | 2 | $0.999867 | -0.01% | 0.02% | $32 523 102 126 |  |
|
| 6 |  XRP |
XRP predictions | 61.2% | 85 | $0.510598 | -5.60% | 12.92% | $26 386 760 233 |  |
|
| 7 |  HEX |
HEX predictions | 63.6% | 71 | $0.080735 | -10.29% | -1.04% | $14 000 412 504 |  |
|
| 8 |  ADA |
Cardano predictions | 75.2% | 41 | $0.394316 | -2.49% | 11.93% | $13 699 582 029 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 82% | 24 | $0.081597 | 6.61% | 10.72% | $11 322 736 681 |  |
|
| 10 |  STETH |
Lido stETH predictions | 94.4% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 11 |  MATIC |
Polygon predictions | 84% | 30 | $1.11 | -0.96% | 3.56% | $10 066 655 550 |  |
|
| 12 |  SOL |
Solana predictions | 81.2% | 37 | $21.07 | 0.33% | 3.84% | $8 124 049 462 |  |
|
| 13 |  BUSD |
Binance USD predictions | 90.8% | 1 | $0.999622 | -0.02% | 0% | $7 554 331 620 |  |
|
| 14 |  DOT |
Polkadot predictions | 82.8% | 27 | $6.31 | -0.28% | 7.11% | $7 392 861 993 |  |
|
| 15 |  WTRX |
Wrapped TRON predictions | 87.6% | 22 | $0.066664 | 0.88% | 5.86% | $6 778 146 401 |  |
