Crypto Price Predictions: Bitcoin, Cardano, Binance Coin

by James · December 16, 2022

Crypto prices remained in a consolidation phase this week as concerns about FTX infection continued. They also reacted to the latest interest rate decision by the Federal Reserve and the arrest of Sam Bankman-Fried. Here are some of the best crypto price predictions for the weekend.

Table of Contents

Bitcoin price prediction

Bitcoin pulled back sharply after the latest interest rate decision by the Federal Reserve. This decline correlated with the performance of US indices such as the Dow Jones and Nasdaq 100 indices.

Bitcoin price fell to a low of $16,923, which was the lowest level since December 12. It also fell below the important $17,395 level, which was the neck of the inverse head and shoulders pattern.

It has also retreated below the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved below the neutral level of 50. Therefore, Bitcoin price is likely to continue to fall as contagion fears continue.

If this happens, the next key level to watch will be $16,000. In the short term, however, a bullish breakout to $18,000 cannot be ruled out as the upheaval eases.

BTC/USD Chart by TradingView

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Bit stamp

Bitstamp is a leading cryptocurrency exchange that offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company that offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.

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Binance Coin Price Prediction

The Binance Coin price has been in a strong bearish trend for the past few days. It collapsed to its lowest level since November this year. This decline accelerated this week as Bitcoin FUD developed on Twitter and other social media platforms such as Reddit. FUD stands for fear, uncertainty and doubt.

Concerns about Binance continued after the arrest of Sam Bankman-Fried, which we wrote about in this article. Investors are concerned about the significant information we still don’t know about Binance. First, it is unclear how much money Binance makes and how much debt it has.

Therefore, like Bitcoin, BNB price is likely to continue to fall as sellers target the psychological level of $200.

BNB/USD chart by TradingView

How to buy BNB

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Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited for more experienced investors and it offers a large number of cryptocurrencies to choose from, to over 600. Binance is also known for having low trading fees and a variety of trading options that users can take advantage of, such as; peer-to-peer trading, margin trading and spot trading.

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Cardano price prediction

Cardano price fell on Friday as concerns about the hawkish Fed continued. It has also fallen due to the underperformance of the DeFi and NFT ecosystem. NFT volume crashed to just $8 million in November, the lowest level in months.

On the daily chart, Cardano remains below all moving averages. It also crashed below the important $0.300 support level, the December 13 low. The Relative Strength Index has moved to the oversold level. Cardano price is likely to continue falling as sellers target the next key support at $0.2500.

ADA/USD chart by TradingView

How to buy Cardano

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eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, along with crypto/fiat and crypto/crypto pairs. eToro users can connect, learn from and copy or be copied by other users.

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