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14-day crypto predictions: As cryptocurrencies drop, sentiment shifts to neutral on Bitcoin

Posted: 9 November 2022 7:00 am
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Our crypto prediction panel turns slightly bearish overall on six popular cryptocurrencies through the week of November 21.

Bitcoin dropped to $17,500, a low that we haven’t seen since June of this year. This pulled most cryptocurrencies down with it. Macroeconomic factors still weigh heavily on riskier assets and the weakness in crypto may last until the Federal Reserve policy starts to shift.

Finder’s crypto prediction panel turned neutral on Bitcoin in the most recent survey looking out through the week of November 21.

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 sentiment was bullish.

Where our crypto prediction panel stands

This weekLast week
EthereumSlightly bullishVery bullish
DogecoinBearishSlightly bullish
LitecoinBearishSlightly bullish
XRPSlightly bearishBullish
OverallSlightly bearishBullish

The panel’s outlook on Bitcoin (BTC) is neutral, a change from the week before when it was bullish. Bitcoin trades at 2022’s lows. Its current support level stands at $17,500. A break of this level opens the way down to $15,000.

The panel’s verdict on Ethereum (ETH) is slightly bullish, a change from the week before when it was very bullish. Ether trades at $1,200. Its current support level sits at $1,000.

The panel’s outlook on Dogecoin (DOGE) is bearish, a change from the week before when it was slightly bullish. DOGE traded as high as $0.08. Following the broader crypto crash, DOGE failed to hold above $0.1.

The panel’s verdict on Litecoin (LTC) is bearish, a change from the week before when it was slightly bullish. LTC trades above $55. Its major resistance level stands at $60 now and its support at $50.

The panel’s outlook on Ripple (XRP) is slightly bearish, a change from the week before when it was bullish. XRP trades at $0.37 after it failed to push past $0.50. Its current price is near a strong support level, meaning it could hold for now.

The panel’s verdict on Solana (SOL) is neutral, a change from the week before when it was bullish. SOL trades at $18. After it fell through its support levels of $25 and $20, we could see a drop to $13 soon.

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 $21,344 at the end of 2022.

Trying to get a handle on the markets? Explore 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.

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