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

Posted: 14 October 2022 1:07 pm

Our crypto prediction panel remains slightly bearish overall on 6 popular cryptocurrencies through the week of 24 October.

Bitcoin trades at $19,500 (about £17,339) after weeks of trading in a narrow range between $18,500 and $20,000. Bitcoin has to break over $20,000 and hold if we are to see a push toward $23,000 and eventually $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 24 October.

Finder’s cryptocurrency prediction panel comprises 15 experts in the field. 5 of them rotate to share their predictions for the following 2 weeks on 6 major cryptocurrencies each week.

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Finder’s experts remain slightly bearish

Our experts are slightly bearish on 6 popular cryptocurrencies, the same as last week.

Where our crypto prediction panel stands

This weekLast week
BitcoinSlightly bearishSlightly bullish
EthereumSlightly bullishSlightly bullish
DogecoinSlightly bearishBearish
LitecoinSlightly bearishSlightly bearish
XRPBearishSlightly 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 slightly bullish. Bitcoin is trading below $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 $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 $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 $52. The two levels to watch are $50 and $55. A break of either of these levels will push the price by $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 $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 $30 and $35. A break of either of these level could push the price for around $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 $21,344 at the end of 2022.

*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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