Yahoo Finance Bitcoin and Ethereum Price Forecast – BTC Prices Under Pressure
The BTC prices continue to trade below the $10000 region over the last few days though there was a brief peek above that region. That peek did not last long and the prices have since fallen below and continue to trade in a weak manner. There is nothing fundamental that is behind the fall in the prices of bitcoin and we believe that the worst is over for them. But the market is beginning to mature and when that happens, it is likely that the prices become choppy as the traders decide on a median price for bitcoin. This is a natural process as part of maturing in the market and this is likely to continue for some time.
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BTC Prices Lower
In fact we have been seeing the support beginning to grow for cryptos and bitcoins with more and more countries coming around to the idea that they are here to stay and that it is better to regulate them and live with them rather than trying to kill it or trying to act as if they do not exist. This has helped to give some confidence to the traders and investors and it only needs some more boost of confidence from the market to push the prices higher and once this begins to happen on a regular basis, we are likely to see the prices more even higher as the demand grows and more and more traders begin to join back into the market again.
Looking towards the ETH market, it is beginning to face one of its serious challenges and this is reflected in the way that the prices have been dropping lower over the last few days. The ETH developers are still uncertain on how to deal with the lost funds and this is developing into a big issue over the past couple of weeks. This has added a lot of pressure on the markets.
Forecast
Looking ahead to the rest of the day, we expect the consolidation to continue on either side of the $10000 region in the BTC market while the ETH prices are expected to continue under pressure over the short term as the developers try and overcome the uncertainty.
This article was originally posted on FX Empire
