{"id":25561,"date":"2022-08-10T21:59:52","date_gmt":"2022-08-10T21:59:52","guid":{"rendered":"http:\/\/egrowonline.com\/?p=25561"},"modified":"2022-08-10T21:59:52","modified_gmt":"2022-08-10T21:59:52","slug":"have-bitcoin-and-ethereum-prices-bottomed-out-what-experts-say","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=25561","title":{"rendered":"Have Bitcoin and Ethereum Prices Bottomed Out? What Experts Say"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<div class=\"disclosure   \">\n<div class=\"disclosure__container\">\n<div class=\"disclosure__content\"> <button class=\"disclosure__heading js-disclosure\">Editorial Independence<\/button><\/p>\n<div class=\"disclosure__wrapper js-expand\">\n<div class=\"disclosure__text\"><span style=\"font-weight: 400\">We want to help you make more informed decisions. Some links on this page \u2014 clearly marked \u2014 may take you to a partner website and may result in us earning a referral commission. For more information, see <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/about-us\/#makemoney\" rel=\"noopener\"><b> How We Make Money.<\/b><\/a><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>After a turbulent year, <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/price\/bitcoin-btc\/\" rel=\"noopener\">bitcoin<\/a> and <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/price\/ethereum-eth\/\" rel=\"noopener\">ethereum<\/a> prices are looking up. But some experts aren\u2019t quite ready to say investors are in the clear from recent price swings.<\/p>\n<p>The <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/ethereum-vs-bitcoin\/\" rel=\"noopener\">two largest cryptocurrencies<\/a> are still down more than 50% from their all-time highs late last year. Yet, in typical fashion, the <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/bitcoin-ethereum-prices-increase-in-july\/\" rel=\"noopener\">crypto market rebounded <\/a>significantly in July, with the price of bitcoin up more than 30% and <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/ethereum-price-rallies-ahead-of-merge\/\" rel=\"noopener\">ethereum up 70%<\/a> since the <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/bitcoin-ethereum-prices-drop-crypto-winter-inflation\/\" rel=\"noopener\">market meltdown in June<\/a>. Could that signal to investors that bitcoin and ethereum already passed the lowest price points of this cycle?<\/p>\n<p>As of Wednesday, <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/bitcoin-price-predictions\/\" rel=\"noopener\">bitcoin<\/a> was holding near $24,000 and <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/ethereum-price-predictions\/\" rel=\"noopener\">ethereum<\/a> crept up above $1,800, following the release of the new inflation data. <a target=\"_blank\" href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\" rel=\"noreferrer noopener nofollow\">Inflation<\/a> eased a bit from <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/bitcoin-ethereum-prices-move-with-high-inflation-report\/\" rel=\"noopener\">historically high levels<\/a> in July, which in turn, led to a <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/latest-stock-market-news\/\" rel=\"noopener\">rally in the stock<\/a> and crypto markets. Ethereum\u2019s price shot up by 8% and bitcoin\u2019s price climbed nearly 4% in the last 24 hours.<\/p>\n<p>But some experts are still skeptical about what recent price jumps could mean long-term.\u00a0<\/p>\n<p>\u201cThe Fed is still indeed tightening, and inflation is still high, so we cannot be convinced of a market reversal currently,\u201d says Marcus Sotiriou, a market analyst at digital asset broker GlobalBlock. \u201cBut the fact that [Fed Chairman] Jerome Powell has started to say that the rate hikes have had a noticeable impact signals to me that we are in the later stages of this bear market, which we are around eight months into.\u201d<\/p>\n<h2 data-toc-counter=\"heading-0\">Have Bitcoin and Ethereum Prices Hit a Bottom?<\/h2>\n<p>Bitcoin and ethereum have gained positive momentum for a few weeks now. While the <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/bitcoin-price-stabilization-could-end-crypto-winter\/\" rel=\"noopener\">surge in bitcoin and ethereum\u2019s prices<\/a> have been impressive, crypto\u2019s ties to the stock market could be a sign of future volatility.\u00a0<\/p>\n<p>The stock market had its best performance since 2020 in July and continues to show <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/bitcoin-ethereum-prices-could-soar-or-crash-in-august\/\" rel=\"noopener\">gains in August<\/a>, so you could make an argument that crypto is currently benefitting from the rally in stocks, says Scott Sheridan, CEO of brokerage firm Tastyworks. By that same measure, if stocks weaken again, then crypto will likely follow.<\/p>\n<p>\u201cI think if you start seeing the market give up some of the recent gains, you\u2019ll probably see something similar in crypto,\u201d Sheridan says.<\/p>\n<p>Crypto educator and market analyst <a target=\"_blank\" rel=\"noreferrer noopener nofollow\" href=\"https:\/\/www.youtube.com\/c\/CryptoWendyo\">Wendy O<\/a> also isn\u2019t convinced bitcoin and ethereum have <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/bitcoin-ethereum-prices-drop-can-go-lower\/\" rel=\"noopener\">hit their lowest prices<\/a> of this cycle yet. O says the market will see \u201ctrue capitulation later in the bear market,\u201d which she believes will last for another one to two years. Capitulation is the moment when investors lose all confidence in the outlook for prices, even after they have tumbled. These images show what capitulation could look like for bitcoin and ethereum over the next year, according to O.<\/p>\n<div class=\"wp-block-image is-style-default\">\n<figure class=\"alignleft\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/Cf-KQrashHU1fDi6GcEHhiwowwx0cMDHO_2D34V72nlwX80uJcQlMOOThhrLJZMh12b5HhaRafLeHzjO78stkHx9OuEHxAxfXakL5D-ZktLG7VBkHKpWOv2FFSMF6fQLr_zCpbLoBvB3JC5l014yRYA\" alt=\"\" \/><img decoding=\"async\" class=\"lazyload\" src=\"https:\/\/lh3.googleusercontent.com\/Cf-KQrashHU1fDi6GcEHhiwowwx0cMDHO_2D34V72nlwX80uJcQlMOOThhrLJZMh12b5HhaRafLeHzjO78stkHx9OuEHxAxfXakL5D-ZktLG7VBkHKpWOv2FFSMF6fQLr_zCpbLoBvB3JC5l014yRYA\" alt=\"\" \/><figcaption><em>Technical chart showing bitcoin\u2019s price history year-over-year and how low bitcoin could fall in the next year. (Courtesy of Wendy O).<\/em><\/figcaption><\/figure>\n<\/div>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/jMXQJ1_CphBJnpqhIAVK2ad1h9_3vONiiXf22CjsEX6qhGuy1IfhHOzybDU3e39rLXZK7TSgv5FCLikiQMR5rqzpKqOWf_Kho7r2byfda_azvRKLcTD92PuOtRyyb_wzZosfW3vEPeaRfLyObSdaDxQ\" alt=\"\" \/><img decoding=\"async\" class=\"lazyload\" src=\"https:\/\/lh3.googleusercontent.com\/jMXQJ1_CphBJnpqhIAVK2ad1h9_3vONiiXf22CjsEX6qhGuy1IfhHOzybDU3e39rLXZK7TSgv5FCLikiQMR5rqzpKqOWf_Kho7r2byfda_azvRKLcTD92PuOtRyyb_wzZosfW3vEPeaRfLyObSdaDxQ\" alt=\"\" \/><figcaption><em>Technical chart showing ether\u2019s price history year-over-year and how low ether could fall in the next year. (Courtesy of Wendy O).<\/em><\/figcaption><\/figure>\n<p>Though crypto prices are impossible to predict with certainty, O say signs point to bitcoin and ethereum dropping back down past their June lows of $17,500 and $900. And continued economic and political uncertainty could create even more volatility in the market in the following weeks or months.<\/p>\n<p>\u201cIn previous bear cycles, both cryptos have corrected 85%,\u201d O says. \u201cI anticipate bitcoin to hit $10,000 and ethereum to hit $750.\u201d\u00a0<\/p>\n<h2 data-toc-counter=\"heading-1\">What Crypto Investors Should Do Amid the Continued Volatility\u00a0<\/h2>\n<p>The only thing guaranteed when it comes to crypto investing is volatility. Nearly one year ago, bitcoin\u2019s price swung as high as $68,000 and now it\u2019s back down below $25,000.<\/p>\n<p>These ongoing fluctuations are a good reminder that not everyone has a risk tolerance for crypto. If you\u2019re <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/how-financial-experts-advise-clients-on-crypto\/\" rel=\"noopener\">curious about crypto<\/a>, keep in mind that investing in crypto is extremely risky and you should <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/how-much-your-portfolio-should-be-crypto\/\" rel=\"noopener\">allocate only 5% <\/a>of your investment portfolio to <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/questions-to-ask-before-buying-cryptocurrency\/\" rel=\"noopener\">crypto assets<\/a>. Even then, only do so if you have a high risk tolerance. There\u2019s no guarantee that you\u2019ll gain money \u2014 or even get back any money you put into the crypto market.\u00a0<\/p>\n<p>Only invest what you would be OK losing, and only after your other financial priorities are in order \u2014 like <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/banking\/savings\/emergency-fund\/\" rel=\"noopener\">saving up for an emergency<\/a>, paying down high-interest debt, and contributing to a <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/retirement\/how-to-save-for-retirement\/\" rel=\"noopener\">traditional retirement plan<\/a>.\u00a0<\/p>\n<p>Bitcoin and ethereum\u2019s fluctuations so far this year show the extreme volatility crypto investors face. If you\u2019re interested in investing in crypto, or you\u2019ve already <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/how-to-buy-bitcoin\/\" rel=\"noopener\">put some money in bitcoin<\/a>, experts recommend not panicking over short-term fluctuations and focusing on the <a target=\"_blank\" href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/future-of-cryptocurrency\/\" rel=\"noopener\">long-term growth potential<\/a> instead.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/time.com\/nextadvisor\/investing\/cryptocurrency\/have-bitcoin-ethereum-prices-bottomed-out\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Editorial Independence We want to help you make more informed decisions. Some links on this page \u2014 clearly marked \u2014 may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money. After a turbulent year, bitcoin and ethereum prices are looking up. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25562,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[37],"tags":[50,1634,158,342,666],"class_list":["post-25561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bottomed","tag-ethereum","tag-experts","tag-prices"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/08\/NA-bitcoin-ethereum-081022-1000x630.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25561"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25561\/revisions"}],"predecessor-version":[{"id":25563,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25561\/revisions\/25563"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/25562"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25561"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}