Bitcoin and Ethereum Price Forecast – BTC Prices Slow Again

The BTC prices have remained stable over the last few days as the market does not seem to have any strength or momentum on either side for the prices to move in that direction. The prices have continued to be slow as of this writing and even reports of a Bitfinex exchange being in a dangerous and risky situation and the corresponding firefighting from the exchange has had little impact on the BTC prices so far. The prices continue to trade above the $6600 region as of this writing and we would expect this kind of slow and ranging trading for much of the day today as well.

BTC Prices Steady in Dull Trading

It is a holiday in the US and Canada and hence for them, it is a continuation of the long weekend. This is only going to add to the dullness in the market and this is going to take some sort of a massive push from the traders to make the market move on either side, at this point of time. We are unable to come to terms with the slowness in the market and we believe that this is only going to make more and more traders get tired of this kind of range trading and they would only be trying to exit the market in due course of time. This is only going to add even more pressure on the prices over the coming days and hence the bulls would be wishing to generate enough momentum to keep pushing the prices higher.

The ethereum prices have also remained stable and they have not had the volatility that the BTC prices have had, even though the volatility of BTC has also been quite less so far over the last few days. The ETH prices and the market seem to be happy to be above the $200 region and the ETH bulls have been able to manage that successfully over the last couple of weeks.

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Forecast

Looking ahead to the rest of the day, we can safely expect the prices to continue to be buoyant over the coming days and this is going to continue for the short term as the lack of fundamental drivers is telling on the market.