Advertisement

Bitcoin and Ethereum Price Forecast – Prices Continue to Stay Strong

The BTC prices pushed through $11000 once again after a period of brief correction in the prices and the prices are now trading in the mid-11,000s as of this writing. They prices have been trading in a generally steady and buoyant manner for the past week or so and with not much of developments around the globe, the prices are expected to settle down and move higher during the cpurse of this week as well. It seems as though the worst is over for the BTC market and now the traders and the investors seem to be aware of the risks and the uncertainties involved and as long as the developments in the real world follow the general rule of thumb, the BTC market has been able to take it in its stride.

Suggested Articles

BTC Prices Stay Above $11,000

After a string of regulations, exchange hacks, exchange raids, audits and taxation, the investors now know that most of the regulators around the world are going to take this path only and so only one of these is likely to be the approach of any of the regulators and with this knowledge, they have been able to trade BTC with much more confidence and less of uncertainty and this has helped the demand to pick up which has in turn helped the prices to continue to move higher over the last week or so.

Bitcoin 4H
Bitcoin 4H

The ETH market has been hit by a string of reports that included their founder saying that the value of cryptos could drop to zero at anytime and other reports that say that an alternative to ETH is on the rise. This kind of reports has led to uncertainty which is why it has not been able to move higher at the same pace as the BTC prices and continuues to lag behind below the $1000 region.

Forecast

Looking ahead to the rest of the day, we expect the price action to remain the same with the BTC being well bid and hence continue on its way higher with the ETH prices lagging behind for much of the day. The volatility has certainly picked up in recent times and the fact that much of the volatility has helped the prices to move higher should keep the traders happy.

This article was originally posted on FX Empire

More From FXEMPIRE: