Bitcoin and Ethereum Price Forecast – BTC Prices Consolidate

The BTC prices continue to be stable over the last 24 hours as the market tries to make sense of the next direction that it wants to take. The bulls are seeking to take control but the market and the traders have seen such moves fail many times over the last few months that are a bit apprehensive on how this would pan out and that is one of the reasons why they are not jumping in all at one go. There has been talk of a bullish rally over the last few weeks but that has not happened so far and that has only served to dent the confidence of the traders even further and no wonder that they are taking this move with a pinch of salt.

BTC Prices Steady

The bulls have done well so far to keep the move and the belief intact but as we had specified yesterday, unless and until they are able to back up this move with a further boost in the coming days, this move is also likely to fizzle out during the short term and this is something that they would not want. There have not been much fundamental or economic news to affect the crypto market over the last 24 hours and we wait further developments and hope that it would be something bullish for the market to build on.

The ETH prices have been fairly stable as well over the last 24 hours and with the lack of any major fundamentals over the last 24 hours, we are seeing the prices likely to continue to be so over the short term. The only developments has been the addition of the first ETH based token in the coinbase exchange but that has not done much to boost the prices of ETH so far.

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Forecast

Looking ahead to the next 24 hours, we expect the market to be stable during the short term. The ranges continue to be in place and the market does not seem to have the momentum to make this a full fledged bull run as yet and so we have to wait and see how all of this pans out in the coming days.