Bitcoin
BTC$76 064.81

0.08%

Ethereum
ETH$2 914.44

2.30%

Tether
USDT$1.000636

-0.02%

Solana
SOL$197.59

1.92%

Binance Coin
BNB$592.90

-1.02%

USD Coin
USDC$0.999657

-0.03%

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% 31 $76 064.81 0.08% 8.61% $1 504 523 633 485 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 83.2% 24 $2 914.44 2.30% 15.68% $350 956 842 345 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.8% 1 $1.000636 -0.02% 0.07% $122 031 247 565 USDT 7 days price change
4 Solana (SOL) SOL Solana predictions 75.2% 54 $197.59 1.92% 18.72% $93 177 120 083 SOL 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 93.2% 5 $592.90 -1.02% 3.00% $85 436 312 074 BNB 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 95.2% 1 $0.999657 -0.03% -0.05% $36 900 654 879 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 91.2% 12 $0.548967 -0.59% 5.45% $31 218 999 526 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 68.8% 65 $0.193351 -0.32% 19.75% $28 366 116 254 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 86% 14 $0.442978 13.17% 24.62% $15 505 550 481 ADA 7 days price change
10 TRON (TRX) TRX TRON predictions 95.6% 2 $0.161050 0.45% -3.55% $13 918 433 792 TRX 7 days price change
11 Toncoin (TON) TON Toncoin predictions 86% 20 $4.91 -0.47% -0.46% $12 488 805 556 TON 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 75.2% 44 $27.86 0.79% 11.19% $11 344 625 411 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 55.2% 94 $0.000019 -1.04% 5.68% $11 001 830 900 SHIB 7 days price change
14 Lido stETH (STETH) STETH Lido stETH predictions 94.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 92.8% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change

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