Yahoo Finance Bitcoin and Ethereum Price Forecast – BTC Prices Move Through $11,000
The BTC prices have progressed further on the back of bullishness in the crypto market and now we are finally seeing the prices trading above the $11000 region in a comfortable manner. The progress has been slow but steady and as the progress continues, it is likely to draw in more and more traders over the coming days which should only increase the demand and hence the prices are likely to move higher in due course of time. The next target of the bulls is likely to be the $12000 region and that is likely to be a very tough nut to crack as the prices have failed in that region a few times before.
Suggested Articles
BTC Prices Higher
As we had mentioned yesterday, the focus of the investors and the regulators alike have shifted to the ICO industry and that is why we are seeing less of interest in the BTC markets. Also, the volatility of the BTC prices have come down considerably over the last couple of months and this has also served to drive off the speculators from the market. This has once again reduced the volatility and that is why we are seeing the BTC prices struggling to make a sustained move higher over the last couple of months. We believe that this kind of choppiness is here to stay and it is likely to continue in the short term.
The ETH market also continues to struggle as the crackdown on the ICOs from the various regulators seems to be affecting the ETH prices as well. Also, the uncertainty over the direction of the network development in ETH is also pushing off the traders and bringing in a lot of confusion over the last few days and this has translated itself into a lot of pressure on the markets during this period.
Forecast
Looking ahead, the ETH prices are likely to continue to struggle below the $900 region and we do not think that they would be able to push ahead in the short term. The BTC market is likely to be more buoyant during this period which should see the prices moving higher towards the $12000 region in the coming days.
This article was originally posted on FX Empire
