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 $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 $23,000 and we may see $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 $1,500, mostly pushed by the Ethereum Merge coming in September. If this level holds, $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 $0.75, a major resistance zone. This means DOGE could pull back to $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 $60. Litecoin needs to break this price level if we are to see $70 next. Otherwise, $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 $0.4. This means we could see the price back at $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 $40 and now targets $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 $25,473 at the end of 2022.
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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.