14-day crypto predictions: As FTX collapse effects linger, sentiment shifts to bearish on Bitcoin

Posted: 17 November 2022 1:45 pm

Our crypto prediction panel turns bearish overall on 6 popular cryptocurrencies through the week of 28 November.

Bitcoin dropped to $16,000 (£13,458), 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 28 November.

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 turn bearish

Our experts are bearish on 6 popular cryptocurrencies, a shift from last week when the sentiment was slightly bearish.

Where our crypto prediction panel stands

This weekLast week
EthereumBearishSlightly bullish
XRPBearishSlightly bearish
OverallBearishSlightly 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 $16,000. A break of this level opens the way down to $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 $1,200. Its current major support level sits at $1,000.

The panel’s outlook on Dogecoin (DOGE) is bearish, the same as the week before. DOGE trades at $0.09. Following the broader crypto crash, DOGE failed to hold above $0.1. Now $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 $55. Its major resistance level stands at $60 now and its support is at $50.

The panel’s outlook on Ripple (XRP) is bearish, a change from the week before when it was slightly bearish. XRP trades at $0.37 after it dropped below $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 $14. Solana was one supported by FTX, which is why it was hit the hardest by the exchange’s collapse. $13 is the support now. A break lower opens the way to $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 $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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