14-day crypto predictions: As cryptocurrencies move higher, sentiment shifts to neutral on Bitcoin and Ethereum
Our crypto prediction panel turns slightly bearish overall on six popular cryptocurrencies through the week of August 1.
Bitcoin trades above US$23,000 for the first time since early June. Macroeconomic factors still weigh down on the crypto market and this could be a bull trap before we see another drop lower.
The negative sentiment could change, however, if the inflation numbers start slowing down or the Federal Reserve turns dovish.
Finder's crypto prediction panel turned neutral on Bitcoin in the most recent survey looking out through the week of August 1.
Finder's cryptocurrency prediction panel comprises 15 experts in the field. Five of them rotate to share their predictions for the following two weeks on six major cryptocurrencies each week.
Finder's experts turn slightly bearish
Our experts are slightly bearish on six popular cryptocurrencies, a shift from last week when the overall sentiment was bearish.
Where our crypto prediction panel stands
|This week||Last week|
The panel's outlook on Bitcoin (BTC) is neutral, a change from the week before when it was slightly bearish. Bitcoin hovers above US$23,000 and we may see US$25,000 next. Keep in mind that the downward pressure remains and this could turn up to be a bull trap.
The panel's verdict on Ethereum (ETH) is neutral, a change from the week before when it was slightly bearish. Ether trades above US$1,500, mostly pushed by the Ethereum Merge coming in September. If this level holds, US$1,800 could be next.
The panel's outlook on Dogecoin (DOGE) is bearish, a change from the week before when it was slightly bearish. DOGE bounced off of US$0.75, a major resistance zone. This means DOGE could pull back to US$0.7 next.
The panel's prediction on Litecoin (LTC) is slightly bearish, a change from the week before when it was bearish. LTC trades slightly below US$60. Litecoin needs to break this price level if we are to see US$70 next. Otherwise, US$50 may be revisited soon.
The panel's outlook on Ripple (XRP) is slightly bearish, a change from the week before when it was bearish. XRP failed to reach US$0.4. This means we could see the price back at US$0.35.
The panel's verdict on Solana (SOL) is slightly bearish, a change from the week before when it was bearish. SOL broke through US$40 and now targets US$50.
Finder's experts hold long-term bullish sentiment on Bitcoin
Finder asked 33 fintech specialists in July to offer price predictions for Bitcoin by year's end. The majority predict Bitcoin will trade for around US$25,473 at the end of 2022.
Trying to get a handle on the markets? Cut through the noise with our overview of the best cryptos to buy right now, explore some strategies for how to trade crypto or see if there's a better platform for you with our guide to the best crypto exchanges.
At the time of publication, Kliment Dukovski owns cryptocurrencies.