Bitcoin and Ethereum Price Forecast – BTC Prices Buoyant Again

The BTC prices have made a slight recovery of sorts over the last day or so as the prices have pushed through the $6500 region and continue to trade in a steady manner as of this morning. It is not a surprise that the prices have risen as the prices have been trading in the larger range between $5800 and $6800 over the past several weeks or so. While this may be good for those who want to trade the range, it is proving to be a difficult wait for large investors and long term traders who have not been able to gauge the trend. Also, those who have been caught hold due to their positions at the highs may continue to be holding all this while with their funds being locked up in the bad trades and they have been unable to get out.

BTC Prices Remain Strong

We can now safely say that the prices are likely to continue to trade in a buoyant manner and we would not be surprised to see if the prices make their way in a slow and steady manner towards the upper side of the range near the $6800 region once again in due course of time. We do not expect any major breakout to happen at any point of time over the next few weeks and the market also seems to be lacking any kind of fundamental and economic push and this is likely to keep the market quiet in the coming days.

There has been a bit of a recovery in the ETH market as well and the prices have managed to climb above the $200 region but it remains to be seen how long this move higher is going to last. Already, the prices have been hit hard due to the increasing pressure from other similar projects and networks and this is likely to continue to haunt the ETH market.

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Forecast

Looking ahead to the rest of the day, we do not have any major fundamentals or economic news to rock the market and we believe that the prices would continue to remain buoyant in the coming days. The same is likely to hold good for the ETH market as well.