Yahoo Finance Bitcoin and Ethereum Price Forecast – BTC Consolidates, ETH Targets $1000
The bitcoin prices continued to consolidate and some semblance of serenity and control seems to have prevailed in the markets. While the moves over the last few months have been marked by frenzy and panic, the moves over the last few weeks have been much more matured and controlled. This points to the growth of the market and the entry of probably a new class of traders and investors who are looking at bitcoins as a more matured asset at this point of time. The speculators who had pushed the prices this way and that, in a violent manner, seem to have moved on to the altcoins and that is why we are seeing some quiet in the bitcoin market.
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BTC Consolidates
The prices have been fluctuating in a range on either side of $15,000 but unlike previous times, there does not seem to be any sign of panic in the markets. The trades seem to be well aware of the risk and the returns that are possible with bitcoin and are happy to see it take some rest and give away some of its attention to the other coins. The regulators also are likely to be happy with the way the bitcoin prices are moving at this point of time and this is an added plus for the bitcoin market.
We have been mentioned since the middle of December that the ETH prices are likely to hit the $1000 mark within the first week of January and now we are at the cusp of it and it is only now that others have begun to talk about it. For several months, we have been talking about the potential of ethereum and how it is likely to be stronger, fundamentally, than bitcoins and the price rise since then speaks volumes.
Forecast
Looking ahead to the rest of the day, expected the consolidation to continue in the BTC prices for today as well. The key figure for the ETH market would be the $1000 region and it appears that it would only be a matter of time before it is broken through.
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This article was originally posted on FX Empire
