Cryptocurrencies Price Prediction: Bitcoin, Solana & Ethereum – European Wrap 19 August
|Bitcoin price stabilizes around $58,000; bearish outlook remains intact
Bitcoin (BTC) trades around $58,000 on Monday, down 0.7% on the day and extending the consolidation phase between $57,000 and $62,000 seen in the past ten days. From a technical perspective, the bearish thesis still prevails as BTC struggles to overcome key resistance levels and momentum indicators look weak. Still, investors’ behavior and data about miners’ recent activity suggest a decline in selling pressure, providing some support to the main crypto asset.
Solana could make double-digit gains for three reasons
Smart contract blockchain Solana (SOL), a key competitor for Ethereum,has noted a 150% increase in its stablecoin supply, largely driven by increasing DeFi opportunities, liquidity and lending protocols and expansion of projects from Ethereum ecosystem to Solana.
Vitalik Buterin moves 400 Ethereum, ETH hovers around $2,600
Vitalik Buterin, co-creator of Ethereum, the largest altcoin in the crypto ecosystem, moved ETH to a crypto mixer, early on Monday. The mixer is known to effectively prevent malicious actors and protect user privacy.
Buterin mover over $1.06 million in Ether to a new wallet address per data from an on-chain tracker. The transfer comes at a time when ETH is reeling from the crypto crash of early August.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.