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

Posted: 21 October 2022 1:31 pm

Our crypto prediction panel remains slightly bearish overall on 6 popular cryptocurrencies through the week of 31 October.

Bitcoin trades in a tight narrow range between $19,000 (about £16,954) and $20,000. The price has to push past $20,000 and hold if we are to see a push toward $23,000 next. 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 neutral on Bitcoin in the most recent survey looking out through the week of 31 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
BitcoinNeutralSlightly bearish
EthereumSlightly bearishSlightly bullish
DogecoinBearishSlightly bearish
LitecoinBearishSlightly bearish
XRPSlightly bearishBearish
SolanaSlightly bearishNeutral
OverallSlightly bearishSlightly bearish

The panel’s outlook on Bitcoin (BTC) is neutral, a change from the week before when it was slightly bearish. 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 price level.

The panel’s verdict on Ethereum (ETH) is slightly bearish, a change from the week before when it was slightly bullish. Ether holds above $1,250 since mid-September of 2022. This is a major support zone, which is likely to keep the price from dropping further. With the Merge complete, any major move ETH makes will depend on the broader crypto market.

The panel’s outlook on Dogecoin (DOGE) is bearish, a change from the week before when it was slightly bearish. DOGE has been trading at around $0.06 since the beginning of September 2022. The current price stands at a strong resistance level and breaking higher may prove difficult.

The panel’s verdict on Litecoin (LTC) is bearish, a change from the week before when it was slightly bearish. 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 slightly bearish, a change from the week before when it was bearish. XRP trades at $0.46. It requires a strong catalyst to push the price higher.

The panel’s verdict on Solana (SOL) is slightly bearish, a change from the week before when it was neutral. SOL dropped below $30 after weeks of trading higher. This means we could see a drop to $25 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.

*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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