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Cryptocurrencies Price Prediction: Bitcoin, Ethereum and Crypto.Com – European Wrap 22 August

Cryptocurrencies Price Prediction: Bitcoin, Ethereum and Crypto.Com – European Wrap 22 August
FXStreet TeamFXStreet TeamFXStreet

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets scramble for recovery before the next crash

Bitcoin price saw a massive sell-off over the last four days and has been trying to consolidate and recover since then. Some altcoins have been much better at recovery than Ethereum and Ripple. Regardless, a recovery rally seems plausible for the crypto markets.

BTC/USD 4-hour chart

Ethereum price remains a beta asset relative to Bitcoin despite upcoming Merge update

Ethereum price remains a beta asset relative to Bitcoin price as it has dropped nearly 8% over the last twelve hours while BTC has slid roughly 4%. This development indicates that the upcoming Merge update, where the asset will shift from Proof-of-Work (PoW) to Proof-of-Stake (PoS), has not had any hand in reducing the high degree of correlation that exists between the two assets. 

ETH/USD 4-hour chart

Why you rather want to be watching House of The Dragon instead of CRO price action this week

Crypto.Com coins (CRO) price action sees this Monday morning bears storming out of the gates with the US futures all down and Nasdaq even down over 2%. With this dark tone, cryptocurrencies are taking a step back as well. On the technical front, CRO price has been rejected on a fundamental level and could see more losses being eked out during the week, so it is time to walk away and look at the Game of Thrones prequel House of The Dragon instead of the markets this week.
CRO/USD Daily chart

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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.

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Democrats win House and Senate in US midterms: Why isn’t all bad news for crypto

Democrats win House and Senate in US midterms: Why isn’t all bad news for crypto

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Ripple nears oversold territory as traders eye buying opportunities

Ripple nears oversold territory as traders eye buying opportunities

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Bitcoin Weekly Forecast: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin Weekly Forecast: Bears tighten grip as BTC eyes fifth weekly loss

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Post-US midterm elections market sell-off weighs on PI

Post-US midterm elections market sell-off weighs on PI

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Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin (BTC) remains under pressure, down over 3% this week, trading near $75,500 on Friday and heading for its fifth straight weekly loss. Persistent outflows from US-listed BTC spot Exchange Traded Funds (ETFs), a sharp sell-off in US technology stocks, and rising market liquidations are weighing on sentiment and limiting Crypto King’s recovery attempts.