Cryptocurrencies Price Prediction: Bitcoin, Ripple and Dogecoin – European Wrap 14 October
Bitcoin Weekly Forecast: Is this the start of BTC’s journey to $28,000?
Bitcoin price witnesses a massive surge in volatility after the release of the US Consumer Price Index (CPI) on Thursday. An initial drop in BTC price is later taken over by buyers, resulting in a sharp move to the upside. CPI came out at 8.2% – above the 8.1% forecast, and Bitcoin price tumbled to $18,190 as expected, given expectations of continued aggressive rate-hiking from the Fed and a stronger US dollar. BTC price quickly recovered, however, rising back up to touch highs of $19,500. Going forward, high-impact news that affects the stock market will also continue to affect the big crypto due to the tight correlation between the two. However, an interesting development is brewing behind the scenes that hints at a potential start of a bullish regime, at least, in the short term.
Ripple Price Prediction: Only one hurdle stands between XRP and $0.90
XRP price continues to remain strong relative to other altcoins despite the recent downturn. Regardless, the crypto markets seem to be shifting their bias to favoring bulls, so investors can expect Ripple to continue its ascent.
Dogecoin price dodged a bullet, but the narrative remains the same
Author
FXStreet Team
FXStreet
