Bitcoin
BTC$27 716.54

-1.82%

Ethereum
ETH$1 755.09

-2.51%

Tether
USDT$1.002644

0.08%

Binance Coin
BNB$324.28

-4.30%

USD Coin
USDC$0.999666

0.09%

XRP
XRP$0.430223

-7.21%

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 72% 51 $27 716.54 -1.82% 12.55% $535 636 495 855 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 78.4% 34 $1 755.09 -2.51% 5.91% $214 776 666 177 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.002644 0.08% -0.01% $77 641 115 939 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 74% 47 $324.28 -4.30% 2.71% $51 200 109 142 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 90.8% 2 $0.999666 0.09% 0.01% $34 710 233 106 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 85.6% 17 $0.430223 -7.21% 17.82% $21 920 232 563 XRP 7 days price change
7 HEX (HEX) HEX HEX predictions 63.2% 82 $0.122471 17.07% 52.82% $21 237 782 043 HEX 7 days price change
8 Cardano (ADA) ADA Cardano predictions 78% 44 $0.363953 -4.28% 12.00% $12 636 148 693 ADA 7 days price change
9 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
10 Dogecoin (DOGE) DOGE Dogecoin predictions 73.2% 57 $0.074806 -1.43% 6.59% $9 924 596 389 DOGE 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 76.4% 51 $1.12 -3.14% -0.40% $9 779 730 336 MATIC 7 days price change
12 Solana (SOL) SOL Solana predictions 74.8% 54 $21.61 -3.84% 11.54% $8 292 848 408 SOL 7 days price change
13 Binance USD (BUSD) BUSD Binance USD predictions 93.6% 1 $0.999732 -0.05% -0.05% $8 061 861 044 BUSD 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 72.8% 50 $6.15 -3.06% 3.23% $7 193 674 767 DOT 7 days price change
15 Litecoin (LTC) LTC Litecoin predictions 70.4% 58 $87.97 7.97% 12.03% $6 381 945 113 LTC 7 days price change

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