Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Solana — American Wrap 04 October
|Crypto Today: Bitcoin and Ethereum gain, XRP holds steady ahead of $1 billion options expiry
Ethereum hovers just below $2,400 on Friday. The altcoin trends towards lower fees, and analysts at IntoTheBlock consider this as a key contributor to Ethereum’s underperformance. Analysts say the market effectively “rejects the thesis of ETH as money,” in a recent newsletter, explaining the decline in Ether price.
Bitcoin Weekly Forecast: Is BTC sell-off over?
Bitcoin (BTC) price declined over 6% this week until Friday as the escalation of the conflict between Iran and Israel added fuel to this sell-off. The decline was also supported by falling institutional demand for ETFs, which recorded outflows of more than $280 million this week. Some analysts suggest that the rising geopolitical conflicts could further escalate, pushing Bitcoin prices even lower potentially to $55,000. However, from a technical point of view, bulls seem to be holding strong at a critical support level.
Three reasons why Solana could see a double-digit decline
Solana (SOL) price appears to have found some support on Friday, recovering slightly from the sharp sell-off registered earlier this week. However, on-chain metrics and technical indicators show increasing chances of a further decline in prices, suggesting that the rebound could be short-lived.
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.