By now it is lunch time again. Like every Monday, we start with the live Bitcoin price and the prices of the top 25 crypto. Then we look at the return (ROI) on crypto over the past week and month. Then we see what Wall Street experts expect from BTC and finally we look ahead to the week ahead.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price and prices top 25 crypto drop
At the time of writing, the live Bitcoin price is quoting EUR 20,160.10 ($20,535.57). This is 3.72% lower than yesterday and also lower than during our Bitcoin lunch last Friday.
The prices of most of the top 25 crypto are also falling. Apart from the stable coins, we only see red numbers. The biggest loss is currently for Avalanche (AVAX) with -4.89%.
Bitcoin and crypto results change, but disappoint
Despite the negative start to the week, we can look back on a positive week. Over the past 7 days, Bitcoin and most crypto recorded positive results. The biggest gain in this period was for Uniswap (UNI) with +22.91%. Yet there were also losers. Dogecoin (DOGE) lost the most with -3.29%. Bitcoin (BTC) posted an excellent result with +5.88%.
This seems positive, but looking at the monthly figures we see that this recovery is a drop in the bucket in a negative month. There are only a few crypto that record a gain over the past 30 days. Again, Uniswap (UNI) takes the crown with +25.61%. Still, the red numbers are by far the majority. Ethereum (ETH) loses the most with 31.30%. Bitcoin (BTC) is not doing much better with -29.74%.
On the site of Tradeincrypto.com you can view all results and all live crypto prices 24 hours a day.
Wall Street analysts see BTC falling further
A survey of 950 Wall Street analysts shows that sentiment for Bitcoin and crypto is still negative. When asked whether BTC is more likely to quote $30,000 or $10,000, 60% replied that they are more likely to expect $10,000 on the digital price board.
It also appears that institutional investors are slightly more positive about crypto than retail investors. 24% of retail investors consider crypto to be “garbage” and 23% of them think crypto is the future.
Among institutional investors, that picture is reversed. Here 18% think crypto can go in the garbage and 26% see a future in crypto.
Below, the Blooberg experts discuss the survey.
For now, it seems that the pessimists are right. As we can see, after the rebound at the end of last week, the BTC is back in the consolidation zone between $19,000.00 and $21,000.00. This puts us back in the price scenario we described last week. Of course, we are curious to know which factors could influence the price forecast for next week.
Bitcoin price under pressure next week
As long as Bitcoin continues to trade below its 200-week moving average, there is selling pressure. This will be amplified in the coming week as crypto lending platforms that did not survive the recent crisis have to sell their BTC. This will increase supply.
The correlation with the stock market, especially that of tech stocks and the inverse correlation with the dollar is also playing tricks on BTC. Tech stocks have started the stock market on a negative note, while the dollar is rising sharply in value.
On top of this, many investors are taking a wait-and-see attitude as new inflation figures for June are announced in America on Wednesday.
So it is expected to be a very volatile and probably exciting week for BTC investors. This is all the more so because technical analyses show that the Bitcoin price is now a bargain and holds out the prospect of remarkably favorable long-term returns on investment.
So there is every reason to pay close attention to our Bitcoin lunches and crypto updates (after the US market closes) in the coming week. What’s more, it can also benefit you.
Do you have an advantage in the paper trading leagues?
In fact, our independent colleagues at virtualinvestment.com organize the crypto paper trading competition. The goal is to get the highest return. With our analyses you can immediately adjust your investments and win nice prizes, made possible by Bitvavo and Cityhopper. Will you be the first to knock off the ‘bicycle bell’? Read here how to participate easily and for free.
By the way, you can also gain an advantage with the paper trading competition in stocks.
Do you invest but not (only) in Bitcoin and crypto?
Other investments are also interesting for many people. Therefore, we provide via our sister site MANNERS.nl every Monday our price forecast in which we look ahead to the expected price development of popular investments such as stocks, options, gold, silver and FOREX. Of course, the price forecast for the coming week is ready for you.
Want to stay informed about the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”