Finder makes money from featured partners, but editorial opinions are our own.

14-day crypto predictions: As cryptocurrencies retreat, sentiment shifts to slightly bearish on Bitcoin

Posted:
News
Cryptocurrency_Supplied_1800x1000-4

Our crypto prediction panel remains slightly bearish overall on six popular cryptocurrencies through the week of August 8.

Bitcoin trades around US$21,000. Macroeconomic factors still weigh down on the crypto market, so any move higher is likely to be short-lived.

The next catalyst, however, comes in the form of the Fed's interest rate decision and the GDP numbers coming out on Wednesday.

Finder's crypto prediction panel turned slightly bearish on Bitcoin in the most recent survey looking out through the week of August 8.

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 remain slightly bearish

Our experts are slightly bearish on six popular cryptocurrencies, the same as last week.

Where our crypto prediction panel stands

This weekLast week
BitcoinSlightly bearishNeutral
EthereumSlightly bullishNeutral
DogecoinNeutralBearish
LitecoinSlightly bearishSlightly bearish
XRPSlightly bearishSlightly bearish
SolanaNeutralSlightly bearish
OverallSlightly bearishSlightly bearish

The panel's outlook on Bitcoin (BTC) is slightly bearish, a change from the week before when it was neutral. Bitcoin hovers around US$21,000, which is the new support price. If BTC holds, we could see a move to US$25,000 soon. However, the downward pressure remains.

The panel's verdict on Ethereum (ETH) is slightly bullish, a change from the week before when it was neutral. Ether trades around US$1,500, mostly pushed by the Ethereum Merge due in September. If this level holds, US$1,700 could be next.

The panel's outlook on Dogecoin (DOGE) is neutral, a change from the week before when it was bearish. DOGE held above US$0.06. The next target to keep an eye on is US$0.07.

The panel's verdict on Litecoin (LTC) is slightly bearish, the same as the week before. LTC bounced off US$53. Depending on what Bitcoin does next, we could either test US$50 soon or try to break US$60 once again.

The panel's outlook on Ripple (XRP) is slightly bearish, the same as the week before. XRP held at US$0.35, which is a strong support price. We may see an attempt at US$0.38 if Bitcoin moves higher.

The panel's verdict on Solana (SOL) is neutral, a change from the week before when it was slightly bearish. SOL still trades in a narrow range of between US$35 and US$45.

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.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

At the time of publication, Kliment Dukovski owns cryptocurrencies.

Get started with crypto

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site