Cryptocurrencies Price Prediction: Bitcoin, Dogecoin and Ethereum – European Wrap 11 May

FXStreet Team FXStreet

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Fear and despair echoes across crypto markets after Terra disaster

Bitcoin price seems to have cauterized the bleed wound after dipping below significant support levels. This brief pause in the big crypto’s downtrend has caused Ethereum, Ripple and other altcoins to rebound violently to the upside. However, things could take a quick and unfavorable turn as the LUNA-UST fiasco is still ongoing. TerraLabs' LUNA price has crashed a whopping 93% as the UST peg becomes unstable.3

Dogecoin price is on the verge of a 70% downturn

Dogecoin price is grappling with the lower trend line of a bullish pattern. This development comes after a wildly bullish narrative over the last few weeks. Therefore, investors need to pay attention to Bitcoin’s directional bias.

Ethereum Price Prediction: ETH consolidates before popping 22%, but dead-cat-bounce looms

Ethereum (ETH) price is still set to rebound roughly 22% and erase the incurred losses from the past few trading days. But price action this morning during the ASIA PAC and European session is consolidating, with lower highs, and higher lows as bears and bulls are squeezed towards each other. Expect to see a pop higher with a bullish breakout either straight away after the consolidation or after a small drop and bounce off $2,278.42 with the double technical bottom in place.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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