Yahoo Finance Bitcoin and Ethereum Price Forecast – BTC Prices Peep Higher
There has been an increasing talk of whether the bottom is in for the BTC market and the other crypto prices as well. The talk has been growing over the last few days and the consolidation and the ranging that we have been seeing has only added some more fuel to all this talk. We will have to wait and see whether this is going to turn out to be true but the talk has been enough to keep the prices buoyant over the last couple of days. Over the last 24 hours, we have seen the prices make a trip higher towards the $6600 region and this has helped to increase the confidence in the markets as well.
BTC Market Buoyant Again
We have also seen the move higher being quickly corrected and now the prices trade around the $6400 region as of this writing. It is unlikely that the prices would drop any further anytime soon but it is this kind of buoyancy that is going to help the traders to keep their faith in the market and hope for better times ahead. The consolidation and ranging over the last few months is also beginning to play on the minds of the traders around the world and it is important that the bulls keep pushing the prices higher so that they can sustain the interest in the markets from the other traders as they would need their support.
The ETH prices are also buoyant over the last 24 hours and the prices have been trading above the $200 region as of this writing. It is likely that the prices would continue to stay buoyant over the next few days as well as the crypto market looks to gain momentum over the coming days and push the prices higher for the medium and long term as well.
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Forecast
Looking ahead to the rest of the day, we expect the buoyancy to continue in the markets and it would be interesting to see whether there would be another trip towards the $6600 region for the BTC prices. That is likely to act as the short term resistance for the BTC markets.
This article was originally posted on FX Empire
