14-day crypto predictions: As cryptocurrencies pull back, sentiment shifts to slightly bearish on Bitcoin
Our crypto prediction panel remains slightly bearish overall on six popular cryptocurrencies through the week of October 24.
Bitcoin trades at US$19,500 after weeks of trading in a narrow range between US$18,500 and US$20,000. Bitcoin has to break over US$20,000 and hold if we are to see a push toward US$23,000 and eventually US$25,000 by the end of the year. However, macroeconomic factors weigh heavily on riskier assets and the weakness in crypto may last for the foreseeable future.
Finder's crypto prediction panel turned slightly bearish on Bitcoin in the most recent survey looking out through the week of October 24.
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 week | Last week | |
|---|---|---|
| Bitcoin | Slightly bearish | Slightly bullish |
| Ethereum | Slightly bullish | Slightly bullish |
| Dogecoin | Slightly bearish | Bearish |
| Litecoin | Slightly bearish | Slightly bearish |
| XRP | Bearish | Slightly bearish |
| Solana | Neutral | Slightly bearish |
| Overall | Slightly bearish | Slightly bearish |
The panel's outlook on Bitcoin (BTC) is slightly bearish, a change from the week before when it was slightly bullish. Bitcoin is trading below US$20,000, which means we could see another leg down or a prolonged sideways move unless there's a decisive move above this key level.
The panel's verdict on Ethereum (ETH) is slightly bullish, the same as the week before. Ether held above US$1,250, which is a major support zone. Now that the Merge has been completed, any move higher will likely depend on the broader crypto market.
The panel's outlook on Dogecoin (DOGE) is slightly bearish, a change from the week before when it was bearish. DOGE trades at US$0.06 after trading around this price for the past two weeks. The current price stands at a strong resistance level and breaking higher may prove difficult.
The panel's verdict on Litecoin (LTC) is slightly bearish, the same as the week before. LTC trades at US$52. The two levels to watch are US$50 and US$55. A break of either of these levels will push the price by US$5 in either direction.
The panel's outlook on Ripple (XRP) is bearish, a change from the week before when it was slightly bearish. XRP trades at US$0.5. This is a major resistance level. It will require a strong catalyst to push the price higher.
The panel's verdict on Solana (SOL) is neutral, a change from the week before when it was slightly bearish. SOL is stuck in a narrow trading range of between US$30 and US$35. A break of either of these levels could push the price for around US$5 in either direction.
Finder's experts hold long-term bullish sentiment on Bitcoin
Finder asked 53 fintech specialists in October to offer price predictions for Bitcoin by year's end. The majority predict Bitcoin will trade for around US$21,344 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.
