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Cryptocurrencies Price Prediction: Bitcoin, Ethereum and Cardano – European Wrap 12 August

Bitcoin Weekly Forecast: Can BTC ruin the Merge for ETH?

Bitcoin price is undergoing a massive rejection at a crucial hurdle for the second time, suggesting the possibility of a reversal. A further look into a lower time frame reveals that this bearish outlook could be possible under certain conditions.

BTC/USDT 1-day chart

How high could Ethereum price go with Triple Halving

Ethereum Merge is going live sooner than the community expected. Core developers of the Ethereum Foundation announced a tentative Merge date as September 15. Ethereum’s successful transition to proof-of-stake is expected to lead to a drop in ETH supply of – according to some estimates – between 80-90% as a result of a mass burn following Merge, in effect causing what amounts to a ‘triple halving’. This is expected to push the ETH price substantially higher.

 
ETH-USD 1-week price chart

Cardano price to retrace as bulls fail to tame the bears

Cardano price has attempted and failed to overcome a crucial resistance level thrice over the last month. This failed attempt is likely to see a potential downswing if ADA bulls fail to keep up. 

ADA/USDT 6-hour chart

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