Cryptocurrencies Price Prediction: Bitcoin, Ethereum and Ethereum Classic – European Wrap 10 August
|Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets tumble, but the worst is yet to come
Bitcoin price is trying to undo the gains it witnessed over the last week and is currently at the midway point. This sell-off has caused Ethereum and Ripple prices to follow suit, pausing the rallies that altcoins were experiencing.
Will the CPI announcement be a bullish event for Ethereum price?
Ethereum price is facing issues trying to establish its directional bias after taking a massive loss recently. However, the US Consumer Price Index (CPI) announcement is likely to induce a massive amount of volatility in the market, so market participants need to exercise caution.
Why traders are licking their wounds in ETC price action
Ethereum Classic (ETC) price got dragged to the downside in the aftermath of Coinbase earnings that came out late on Tuesday evening just prior to the US closing bell. Hand in hand with the crypto winter, exchange platform Coinbase’s earnings printed red, disappointing investors. The platform was hit by its dependence on transactions in the most battered asset class of financial markets this year. Several cryptocurrencies got tackled and rolled over to the downside, with ETC recovering this morning in the ASIA PAC session as investors picked up the price action at a short-term discount, although risk looms around the corner with the US inflation print this afternoon setting the tone for the rest of the week.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.