14-day crypto predictions: As FTX collapse effects linger, sentiment shifts to bearish on Bitcoin
Our crypto prediction panel turns bearish overall on six popular cryptocurrencies through the week of November 28.
Bitcoin dropped to US$16,000, a new low for the year, following the collapse of one of the largest cryptocurrency exchanges — FTX. Macroeconomic factors still weigh heavily on riskier assets and the weakness in crypto is likely to last until the Federal Reserve policy starts to shift.
Finder's crypto prediction panel turned bearish on Bitcoin in the most recent survey looking out through the week of November 28.
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 bearish
Our experts are bearish on six popular cryptocurrencies, a shift from last week when the sentiment was slightly bearish.
Where our crypto prediction panel stands
| This week | Last week | |
|---|---|---|
| Bitcoin | Bearish | Neutral |
| Ethereum | Bearish | Slightly bullish |
| Dogecoin | Bearish | Bearish |
| Litecoin | Bearish | Bearish |
| XRP | Bearish | Slightly bearish |
| Solana | Bearish | Neutral |
| Overall | Bearish | Slightly bearish |
The panel's outlook on Bitcoin (BTC) is bearish, a change from the week before when it was neutral. Bitcoin trades at new lows. Its current support level stands at US$16,000. A break of this level opens the way down to US$15,000.
The panel's verdict on Ethereum (ETH) is bearish, a change from the week before when it was slightly bullish. Ether trades at US$1,200. Its current major support level sits at US$1,000.
The panel's outlook on Dogecoin (DOGE) is bearish, the same as the week before. DOGE trades at US$0.09. Following the broader crypto crash, DOGE failed to hold above US$0.1. Now US$0.075 is DOGE's support level.
The panel's verdict on Litecoin (LTC) is bearish, the same as the week before. LTC trades above US$55. Its major resistance level stands at US$60 now and its support is at US$50.
The panel's outlook on Ripple (XRP) is bearish, a change from the week before when it was slightly bearish. XRP trades at US$0.37 after it dropped below US$0.3. Its current price is near a strong support level, meaning it could hold for now.
The panel's verdict on Solana (SOL) is bearish, a change from the week before when it was neutral. SOL trades at US$14. Solana was one supported by FTX, which is why it was hit the hardest by the exchange's collapse. US$13 is the support now. A break lower opens the way to US$7.
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.
