Bitcoin
BTC$27 033.99

2.37%

Ethereum
ETH$1 674.14

3.44%

Tether
USDT$0.999843

0.06%

Binance Coin
BNB$216.11

1.54%

XRP
XRP$0.509796

2.08%

USD Coin
USDC$1.000021

-0.01%

Loss of correlation with stocks will pave the way for crypto to portfolios


10 Jun 2022

#Bitcoin

Bitcoin was down 0.3% on Thursday, continuing to hover around $30K. This mild decline was a bonus of last month's loss of correlation between the cryptocurrency and stock markets. Ethereum lost 0.4%, settling near $1800. Other top-10 altcoins showed mixed dynamics, ranging from a 2.5% decline (Cardano) to a 3.6% rise (Solana). Financial market veteran Peter Brandt believes Ethereum is in a downward triangle and could fall to $1268 within a month.

The total capitalisation of the crypto market, according to CoinMarketCap, fell 0.2% overnight to $1.24 trillion. The cryptocurrency fear and greed index were up 2 points to 13 by Friday and remains in "extreme fear" mode.

Bitcoin has crossed the $30K mark almost daily over the past month, with no significant preponderance of buyers or sellers to form a clear trend. Generally, the correlation gap between cryptocurrencies and stock markets is long-term good news as it attracts the attention of professional investors. Weakness in equity and bond markets, sagging gold and the murky outlook for the real estate market are turning their eyes to cryptocurrencies as another tool in a diversified portfolio.

Loss of correlation with stocks will pave the way for crypto to portfolios

CNBC's Mad Money host Jim Cramer has changed his mind about investing in cryptocurrencies, calling BTC and ETH the best long-term investments. However, they should not account for more than 5% of a portfolio. PwC, an audit firm, reported that most hedge funds invest less than 1% of their assets in cryptocurrencies because of regulatory uncertainty in the industry.

According to a Deloitte survey, 75% of US retailers will implement support for cryptocurrency payments within two years.

USDT, the world's most prominent staple by market capitalisation, will be available on the Tezos blockchain powered by the Proof-of-Stake consensus mechanism. The USDT ecosystem is now open on 12 networks, including Ethereum, Solana, Polygon, Tron and Algorand.


Related

Tips to Choose the Right Second Citizenship Program
Tips to Choose the Right Second Citizenship Program
Bitcoin’s continued slide down
Bitcoin’s continued slide down
A new round of crypto market mistrust
A new round of crypto market mistrust
Bitcoin holds its range, but pressure mounts
Bitcoin holds its range, but pressure mounts
Bitcoin unlikely to end correction
Bitcoin unlikely to end correction
Bitcoin looks set to take a severe dive
Bitcoin looks set to take a severe dive
Bitcoin set for a deeper correction
Bitcoin set for a deeper correction
Bitcoin falls under pressure
Bitcoin falls under pressure
Bitcoin sticks to bull trend on banks' woes
Bitcoin sticks to bull trend on banks' woes

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 95.6% 2 $27 033.99 2.37% 1.45% $527 135 688 529 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 93.6% 5 $1 674.14 3.44% 4.93% $201 291 736 477 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $0.999843 0.06% 0% $83 263 508 106 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 94.4% 4 $216.11 1.54% 2.33% $33 247 980 400 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 92% 9 $0.509796 2.08% 0.01% $27 178 454 547 XRP 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94.8% 1 $1.000021 -0.01% 0.01% $25 530 849 089 USDC 7 days price change
7 Lido stETH (STETH) STETH Lido stETH predictions 92% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
8 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 85.2% 24 $0.088098 4.06% 5.76% $8 957 448 242 WTRX 7 days price change
9 Cardano (ADA) ADA Cardano predictions 91.6% 6 $0.251909 2.62% 2.72% $8 849 175 236 ADA 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 90% 4 $0.061718 1.52% 0.04% $8 714 841 543 DOGE 7 days price change
11 Solana (SOL) SOL Solana predictions 84.8% 20 $20.16 5.17% 2.25% $8 324 940 011 SOL 7 days price change
12 TRON (TRX) TRX TRON predictions 84% 22 $0.088554 4.55% 5.90% $7 888 492 391 TRX 7 days price change
13 Toncoin (TON) TON Toncoin predictions 60.4% 84 $2.22 1.57% -3.82% $7 623 523 317 TON 7 days price change
14 Dai (DAI) DAI Dai predictions 95.2% 1 $0.999716 -0.03% 0.01% $5 346 368 455 DAI 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 90% 7 $4.09 1.76% 1.74% $5 029 573 668 DOT 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

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.