Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Zcash – European Wrap 22 October
|Crypto Today: Bitcoin, Ethereum, XRP stabilize amid ETF inflows resurgence
Bitcoin (BTC) steadies above $108,000 at the time of writing on Wednesday, after facing rejection from resistance at $114,000 the previous day. However, a resurgence of BTC spot Exchange Traded Funds (ETFs) inflows supports a short-term bullish outlook.
Meanwhile, Ethereum (ETH) and Ripple (XRP) show signs of weakness amid negative market sentiment due to macroeconomic uncertainty, profit booking and the lack of key price catalysts to sustain their recovery.
Bitcoin Forecast: Start of a major correction or the next bull run? [Video]
Bitcoin traders are on high alert after last week’s volatility shook the market. Will institutions buy the dip, or will the market correct further?
We walk through the technical outlook with an Elliot Wave formation, its corrective wave scenarios (possible swings toward lower support zones), and the key weekly decision levels to watch for Bitcoin.
Zcash Price Forecast: ZEC eyes $300 breakout rally as network activity, retail demand grow
Zcash (ZEC) recovery run towards the $300 mark gains traction on Wednesday, surviving the crypto market’s flash crash and subsequent days of high volatility. The renewed uptrend in the privacy coin points to further gains as retail demand and on-chain activity surge.
Zcash provides privacy to users by collecting deposits into transparent pools, such as Sprout, and transferring them to anonymous pools, like Sapling or Orchard pool, using zero-knowledge proof-based high-level encryption technology. This transfer is called shielding.
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.