Cryptocurrencies Price Prediction: Bitcoin, Ethereum and Crypto.Com – European Wrap 22 August
|Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets scramble for recovery before the next crash
Bitcoin price saw a massive sell-off over the last four days and has been trying to consolidate and recover since then. Some altcoins have been much better at recovery than Ethereum and Ripple. Regardless, a recovery rally seems plausible for the crypto markets.
Ethereum price remains a beta asset relative to Bitcoin despite upcoming Merge update
Ethereum price remains a beta asset relative to Bitcoin price as it has dropped nearly 8% over the last twelve hours while BTC has slid roughly 4%. This development indicates that the upcoming Merge update, where the asset will shift from Proof-of-Work (PoW) to Proof-of-Stake (PoS), has not had any hand in reducing the high degree of correlation that exists between the two assets.
Why you rather want to be watching House of The Dragon instead of CRO price action this week
Crypto.Com coins (CRO) price action sees this Monday morning bears storming out of the gates with the US futures all down and Nasdaq even down over 2%. With this dark tone, cryptocurrencies are taking a step back as well. On the technical front, CRO price has been rejected on a fundamental level and could see more losses being eked out during the week, so it is time to walk away and look at the Game of Thrones prequel House of The Dragon instead of the markets this week.
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