Bitcoin and Ethereum Price Forecast – BTC Prices Stable

The BTC prices have been consolidating above the $8000 region over the last couple of days and continue to do so as of this writing. After a brief trip below this region over the weekend, the prices have recovered and now we are seeing the buoyancy back in the markets. We do not expect any major correction at this point of time as the large investors and traders have shown their hand and it is clearly pointing upwards. It looks as though it is only a matter of time before the next leg of the bull run begins and that should target the $8900 region as the first target and then the $10,000 region which should be the major target and resistance for the bulls as well.

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BTC Prices Above $8000

With this in mind, it is likely that the traders would buy any dip in price and this could be one more reason why the prices are unlikely to fall anytime soon in the short term. The crypto markets as a whole has been buoyant with BTC once again receiving the bulk of the attention from the traders and the investors. But there could be some surprises in the market this year as we see the markets diversify and the traders and the investors look towards the other coins to see whether they can get a value buy at some low price at any point of time. That is yet to show up at this point of tie though but we should see soon.

The ETH market was expected to pick up from where it left off but we see that the prices continue to struggle just above the $450 region and it looks as though the struggle would continue in the short term as it faces a lot of challenges from within and also from the outside as well. This is one of the major reasons for the prices to continue to be under pressure despite the buoyancy in the BTC market.

Forecast

Looking ahead to the rest of the day, we do not have any major fundamental or economic data to look forward to, as far as the crypto market is concerned and hence we can safely say that the BTC and ETH prices would continue to consolidate and look solid for the short term.