Cryptocurrencies Price Prediction: Bitcoin, Ripple & Cardano – American Wrap 10 June

FXStreet Team FXStreet

Bitcoin Weekly Forecast: There’s a BTC price crash looming

Bitcoin price is at a point in its journey through the bear market where investors are split into camps that are expecting a relief rally, a continuation of the crash and a full-blown bull rally. Interestingly, none of the aforementioned theses is wrong per se.

Ripple’s XRP price will see significant volatility this weekend

Ripple (XRP) price is set to possibly print a new low by or over the weekend as another batch of dollar strength roils markets and makes every risk asset slip to the downside. With cryptocurrencies in the forefront of these headwinds, interest and buying power could wind down, opening room for bears to go in for the kill and possibly trigger new lows for 2022, erasing the small incurred gains from May and June in the process. Expect to see bulls squashed like flies against the wall and finally squeezed out of their positions around $0.37 before price drops like a stone some 18% towards $0.30.

Cardano’s Charles Hoskinson approaches Vasil hard fork with caution following Terra’s LUNA and UST collapse

Charles Hoskinson, the creator of Cardano has announced changes in IOHK’s plans for the Vasil hard fork in response to the LUNA crash. Hoskinson told the Cardano community that the de-peg and decline of Terraform Lab’s sister tokens LUNC (previously known as LUNA) and TerraUSD (UST) have prompted developers to be more careful in implementing future upgrades.

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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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