Bitcoin and Ethereum Price Forecast – BTC Prices Recover

The BTC prices have managed to recover over the weekend as the prices have shot through the $6000 region and now trade above the $6300 region as of this writing which shows that there continues to be a lot of buying in the sub-6000 region. The prices had fallen below the $6000 region just ahead of the weekend and this has raised doubts whether the pressure would continue to be high and that if the selling continues through the weekend, when the liquidity would be low, then it would lead to even lower prices. But none of that has happened as the prices have rebounded.

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BTC Prices Rebound Through $6000

There does not seem to be any major fundamental reason for the prices to rebound from there but as we have been saying over the past few weeks, we believe that larger investors are beginning to enter the market is a slow and steady manner and this has led to the drop in prices and the lowering of volatility over the past few months. Also, we also feel that the moddle of the year is when the prices are under pressure and the prices typically tend to pick up towards the end of the year, as it happened last year. We will have to wait and see whether there is going to be a similar trend this year as well.

The ETH prices have also dropped lower and then rebounded though the market continues to be under pressure, like the rest of the crypto market. The prices are not out of the woods as yet, as many of the investors would like to believe and we feel that the crypto market would continue to twist and turn in the days ahead.

Forecast

Looking ahead to the rest of the day, we do not expect much action during the day though many of the traders are likely to return back to the markets after the weekend. We believe that the market would continue to range and consolidate and this is true for the BTC and the ETH markets as well.