Cryptocurrencies Price Prediction: Bitcoin, Ethereum and Axie Infinity – European Wrap 12 January

FXStreet Team FXStreet

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Altcoins ready to explode as BTC shows strength

Bitcoin price is showing signs of bottoming and starting a new uptrend. Although BTC is getting rejected at a supply zone, this development will be followed by a massive spike that propels the market value of the big crypto. Ethereum and Ripple also look positioned for a bullish onslaught.

Experts believe ETH2.0 could be the real killer for Ethereum layer-1 scaling solutions

On-chain activity and utility of Ethereum layer-1 scaling solutions may be negatively impacted by the launch of ETH2.0. The implementation of sharding and proof-of-stake consensus mechanism could make layer-1 scaling solutions irrelevant.

Axie Infinity Price Forecast: AXS kick-starts a 30% advance

Axie Infinity price slid below a crucial higher time frame support level, leading to a steep correction. This downswing seems to have come to an end as AXS bounces off another significant level, kick-starting a massive run-up.

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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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