The  cryptocurrency market is operated under similar rules. The ability for many people to make substantial quantities of money through digital assets is one of the key advantages of cryptocurrencies.

Cryptocurrency, often known as crypto-currency or crypto, is any digital or virtual currency that uses encryption to safeguard transactions.

Cryptocurrencies track transactions and generate new units using a decentralized framework as opposed to a single issuing or regulatory organization.

Ethereum Price Prediction

The market value of Ethereum has decreased by 68%, mirroring the 75% decline in Bitcoin since all-time highs at $4,868.

The price is currently above the 38.2% retracement line, according to a Fibonacci retracement tool that places the current value between the epidemic lows at $86 and the all-time highs at $4,868.

The price of ethereum is at $1,276 and is consolidating inside a narrowing range. A downtrend spike into the 50% ($645) and 61.8% ($401) Fib levels may result from the price action’s constriction at some point in the upcoming months.

Without invalidating Wave 1 of the Macro Count at $366.80, the bearish scenario allows for a decrease in Eth’s market value of up to 65%.

According to Elliott Wave Theory, ETH still has the potential for one more cryptocurrency rise in the years to come as long as Wave 1 is not broken.

The market value would climb by 280% if the bulls made a second attempt to reach the All-Time Highs. As a result, when using a dollar-cost average technique to investing, the $366.80 level might be used as a benchmark.

Bitcoin Price Prediction

The price of bitcoin has decreased by 64% this year and by 75% since November 2021, when all-time highs of $69,000 were reached. The peer-to-peer digital currency is hovering on December 23 at the base of a protracted decline. Significant cues must be present in the longer-term narrative for the decline to be considered over.

At this time, the price of one bitcoin is $16,843. BTC is currently sitting slightly above the unbroken 50% Fib level at $15,017, according to a tool that plots the Fibonacci retracement between the 2020 low at $3,850 and the all-time high at $69,000. As a result, the price of Bitcoin can still drop by 10% without invalidating the well-liked macro Elliot Wave Count that was put forth earlier this year.

Cardano Price Prediction

A week after losing sight of its crucial support level at $0.30, Cardano (ADA) price is holding onto its last line of defence.

The last two months have been terrible for the cryptocurrency market, with Sam Bankman-Fried and FTX dominating the news.

The crypto winter is expected to go well into 2023, according to experts, because of the ripple effects of the collapse of the FTX exchange.

However, a consistent rise in stablecoin volume, as seen in the most recent report from CoinMetrics, indicates that once confidence in the cryptocurrency industry has been restored, there will be sufficient deployable resources to reverse the trend. A price explosion of $3 for Cardano is therefore conceivable.

Meanwhile, at the time of writing, ADA is trading at $0.2578. (Saturday – European session). According to CoinMarketCap, trading volume fell by 38.78% to $126 million. With a market cap of $8.89 billion, the smart contracts token is now ranked ninth.

After dropping 91.6% from its historical high of $30.9 on September 2, 2021, Cardano pricing will probably conclude the year in a seemingly endless rabbit hole. In just one year, ADA lost 82.6% of its value, further crippling investors.

The Market Value Realized Value (MVRV) profit or loss model has been below its mean line at 1 for the majority of the year. Santiment claims that when the MVRV deviates from the mean line, an asset would be undervalued. In these circumstances, investors are more likely to keep their tokens for longer. Some people would even increase their purchases before a rally.

A buy zone for ADA is therefore indicated by an MVRV ratio of -15.09, which indicates that a rebound catalyst is still needed. On the other side, when the MVRV flips past the mean line, investors typically sell to book profits.

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Cryptocurrency Price Prediction: ETH, BTC, Cardano, 29th Dec 2022

The  cryptocurrency market is operated under similar rules. The ability for many...