Cryptocurrencies Price Prediction: Ripple, Cardano & Bitcoin – American Wrap 20 April

FXStreet Team FXStreet

Bitcoin Price Prediction: Is the real bull run starting now?

Bitcoin price has rallied nearly 18% since the July 26 lows at $20,690. The peer-to-peer digital currency is on a steep incline aiming for new monthly highs at $24,130. Calling an end to the uptrend will be challenging as the rally does not look like a clear impulse wave since the $18,900 lows on July 13. Still, Elliott wave theory has shown in the past that Choppy 1-2 1-2 patterns can lead to surging bull runs.

XRP Price Prediction: A case of sneaky divergence

Ripple price shows reasons to remain concerned. On July 26, 2022, a warning was issued as the Ripple price was rejected from a historical trend line dating back to April 2021. The classical price action signature resembles textbook catalyst makers. Based on Elliot Wave and Fibonacci projections, a $0.24 target has been forecasted.

Cardano Price Prediction: Was ADA's post-FOMC euphoric rally a bull trap?

Cardano price moved 14.62% following the FOMC meeting on Wednesday, which resulted in an interest rate hike of 75 basis points. A euphoric rally also engulfed the entire market, with the total market capitalization reclaiming the $1 trillion mark.

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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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