Yahoo Finance Bitcoin and Ethereum Price Forecast – BTC Prices Continue to be Buoyant
As expected, the BTC prices did try to make some headway over the last couple of days and we saw the prices trading above the $6700 region for much of the time during this period. It has since corrected a little but that has not robbed the market of the buoyancy that we have been seeing over the last week or so. There have not been much fundamental or economic news over the weekend but the market seems to be enjoying a good streak over the past week or so which has helped the entire crypto market to climb higher in a slow and steady manner.
BTC Prices Stable
The line in the sand, as it has been over the last few months, would continue to be around the $6800 region as far as the BTC prices are concerned and unless and until the prices cross this region for good, the bulls cannot hope to make much headway and they would have to wait for the consolidation and ranging to continue for longer. We believe that this phase would ultimately lead to a bull run if and when the prices cross the $6800 region but the weak hands are only going to exit more and more as this consolidation continues to longer and this is only going to affect the bull market even more, in due course of time.
The ETH prices have also continued to be buoyant and the prices trade above the $200 region as of this writing. Though the prices are under severe pressure due to challenges post by other similar networks and blockchains, which have begun to vie for the same position as the existing ETH network and have been soliciting programmers to make more and more dApps on their specific networks, the bulls have been trying to hold on but they need support from the BTC and the rest of the crypto market to keep the momentum going.
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Forecast
Looking ahead to the rest of the day, many of the traders would be back after the weekend and it is likely that we see another attempt at the $6800 region in due course of time. The bulls and the bears would be readying themselves for more such battles over the next few days as each would try to take control of the market.
This article was originally posted on FX Empire
