TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Cryptocurrencies Price Prediction: Bitcoin, Cardano & Crypto – European Wrap 8 November

Cryptocurrencies Price Prediction: Bitcoin, Cardano & Crypto – European Wrap 8 November
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Weekly Forecast: Further upside likely after hitting new all-time high

Bitcoin (BTC) surged more than 10% this week, hitting a new high of $76,849 on Thursday, buoyed by the crypto-friendly candidate Donald Trump’s victory in the US presidential election.

Chart

Cardano breaks above descending trendline, eyes April high as bullish momentum builds

Cardano (ADA) extends its gains on Friday, trading 5% higher at the time of writing after rallying 12% and closing above its descending trendline on Thursday. The technical outlook and on-chain metrics support ADA’s rise, which shows that bullish momentum is gaining traction and suggests a continuation of the rally.

Chart

The crypto market stands on top

The cryptocurrency market is consolidating near the $2.5 trillion mark after pulling back slightly from the local peak. Judging by intraday performance, the market is undergoing a shakeout of positions as some players close positions related to the idea of a Republican victory. The market's further momentum will depend on whether politicians continue to support crypto, which creates the risk of volatility.

Author

FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

More from FXStreet Team
Share:

Editor's Picks

XRP rebounds on surging whale accumulation

XRP rebounds on surging whale accumulation

Ripple (XRP) holds above $1.40 support on Wednesday, as bulls return to take control following three consecutive days of declines. The remittance token’s upside appears capped at $1.50 while extended gains would face additional resistance at $1.70.

Bitcoin extends gains as investors shift to debasement-resistant assets

Bitcoin extends gains as investors shift to debasement-resistant assets

Bitcoin extends rally toward $80,000 amid persistent bullish momentum. Bitcoin’s SOPR indicator above 1 signals mild profit-taking, and a continued trend could suggest steady price growth as buyers absorb supply.

Crypto Today: Bitcoin, Ethereum, XRP bulls regain strength amid steady capital inflows

Crypto Today: Bitcoin, Ethereum, XRP bulls regain strength amid steady capital inflows

Cryptocurrency prices are broadly edging higher on Thursday, led by Bitcoin’s uptick near $80,000. Altcoins mirror Bitcoin’s short-term bullish outlook, with Ethereum trading above $2,500 and Ripple hovering above its key $1.40 support.

Cardano risks steeper decline amid easing retail demand 

Cardano risks steeper decline amid easing retail demand 

Cardano is trading in the red on Thursday, with roughly 10% losses so far this week, suggesting capitulation after last week’s 30% rally. Waning retail demand in ADA futures amid declining Open Interest and funding rates suggests capitulation speculation.

Bitcoin: The US Treasury saves BTC

Bitcoin: The US Treasury saves BTC

Bitcoin extends gains, trading above $77,000 on Friday after rallying over 20% and reaching its highest level since mid-May. Crypto markets continue to cheer the US Treasury’s decision to double its debt buyback operations, posting their 7th-largest liquidation event in history.