Bitcoin
BTC$19 030.21

-0.32%

Ethereum
ETH$1 326.48

0.13%

Tether
USDT$1.000084

0%

USD Coin
USDC$0.999981

-0.01%

Binance Coin
BNB$276.61

-2.41%

XRP
XRP$0.486640

-3.42%

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.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 84.4% 28 $19 030.21 -0.32% -5.10% $364 618 489 584 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 74.4% 56 $1 326.48 0.13% -8.81% $162 515 564 561 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.4% 1 $1.000084 0% 0% $67 960 431 405 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 94.8% 1 $0.999981 -0.01% -0.01% $49 713 550 202 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 86.4% 17 $276.61 -2.41% -0.50% $44 627 031 173 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 64.8% 72 $0.486640 -3.42% 30.75% $24 258 385 474 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 91.2% 1 $1.000205 0.02% 0.07% $20 521 449 661 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 80% 32 $0.454931 -1.45% -5.80% $15 571 509 175 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 84% 31 $33.80 0.27% 0.09% $11 987 371 735 SOL 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 93.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 86.8% 14 $0.063036 -4.59% 2.47% $8 363 011 604 DOGE 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 79.6% 43 $6.31 -2.20% -9.86% $7 073 245 562 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 95.2% 1 $1.000136 0.03% 0.02% $6 930 359 263 DAI 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 72.8% 54 $0.761561 -1.51% -7.49% $6 651 718 356 MATIC 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 76.8% 42 $0.000011 1.38% -3.89% $6 272 885 542 SHIB 7 days price change

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