So Will Bitcoin Fall Below $10K, Ethereum Below $500 And Dogecoin Below 3 Cents By The End Of July?

Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

This week, we posed the following questions to over 1,000 Benzinga visitors on cryptocurrency investing: 

Do you think Bitcoin BTC/USD is heading below $10,000 by the end of July?

• Yes, Bitcoin will fall below $10,000 by the end of July: 24.7%
• No, Bitcoin won’t fall below $10,000 by the end of July: 75.3%

Do you think Ethereum ETH/USD is heading below $750 by the end of July?

• Yes, Ethereum will fall below $500 by the end of July: 32.6%
• No, Ethereum won’t fall below $500 by the end of July: 67.4%

Do you think Dogecoin DOGE/USD is heading below $0.03 by the end of July?

• Yes, Dogecoin will fall below $0.03 by the end of July: 27.1%
• No, Dogecoin won’t fall below $0.03 by the end of July: 72.9%

Apex cryptocurrency Bitcoin is trading lower by 33% to $19,122 over the past month. The world’s most popular digital currency is trading off its 50-day simple moving average (SMA) of $27,988 by 32%.

For the uninitiated, the 50-day SMA can help serve as a way for traders and investors to identify whether a crypto or equity is in a bull or bear market.

The SMA ranks as one of the easiest-to-compute technical indicators. This popular indicator smooths out price data and can help you better identify market trends. 

The SMA can even provide objective signals that can assist you in selecting market entry and exit points as a trader or investor.

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Ethereum is trading lower by 48% to $993 over the past month. Ethereum is off its 50-day SMA of $2,258 by roughly 56%. Ethereum last saw the $1,000 price level or below in January 2021.

Dogecoin has fallen around 38% from $0.053 since the middle of May. The crypto coin has garnered much popularity following Tesla Inc TSLA CEO Elon Musk‘s endorsement of the meme coin as his favorite cryptocurrency… Read More

This survey was conducted by Benzinga in June 2022 and included the responses of a diverse population of adults 18 or older.

Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults.