14-day crypto predictions: Sentiment is slightly bullish on Bitcoin

Posted: 25 August 2022 3:08 pm
News

Our crypto prediction panel remains slightly bearish overall on 6 popular cryptocurrencies through to the week of 5 September.

Bitcoin trades at $21,000 (£17,778.39), keeping most cryptocurrencies afloat. Market participants await the next catalyst, which is going to impact the price of crypto. However, macroeconomic factors still weigh down on riskier assets, meaning it could take months before we see a meaningful move higher.

Finder’s crypto prediction panel turned slightly bullish on Bitcoin in the most recent survey looking out through the week of 5 September.

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 bullishNeutral
EthereumSlightly bullishNeutral
DogecoinBearishSlightly bearish
LitecoinSlightly bullishSlightly bearish
XRPBearishSlightly bearish
SolanaNeutralSlightly bullish
OverallSlightly bearishSlightly bearish

The panel’s outlook on Bitcoin (BTC) is slightly bullish, a change from the week before when it was neutral. Bitcoin dropped to $21,000 after failing to reclaim $25,000. This price has to hold if we are to see another attempt higher.

The panel’s verdict on Ethereum (ETH) is slightly bullish, a change from the week before when it was neutral. Ether trades at $1,600 after it failed to push past $2,000. This price level isn’t out of reach, given we’re moving closer to the Merge date.

The panel’s outlook on Dogecoin (DOGE) is bearish, a change from the week before when it was slightly bearish. DOGE trades back at its support level at $0.07. If Bitcoin moves to $25,000 in the coming weeks, it may pull DOGE at $0.09 with it.

The panel’s verdict on Litecoin (LTC) is slightly bullish, a change from the week before when it was slightly bearish. LTC trades at $57 after it failed to move past $65. This means we could see LTC drop back to $50 unless BTC moves higher.

The panel’s outlook on Ripple (XRP) is bearish, a change from the week before when it was slightly bearish. XRP dropped to $0.33. This means we could see the price drop to $0.325 next.

The panel’s verdict on Solana (SOL) is neutral, a change from the week before when it was slightly bearish. SOL now stands at $35, its support level, meaning it could bounce to $40 next.

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.

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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