Bitcoin and Ethereum Price Forecast – BTC Prices Stable

One more day passes and we have the consolidation and the ranging continue for one more day as well. This has been the theme in the markets over the last many many days and weeks and it is unlikely to change anytime soon. Maybe, it could also be viewed as a maturation of the market as the volatility begins to normalise and we are seeing the prices settle into a range which the fiat currencies are known for. The volatility ranges for the BTC prices have begun to match that of the fiat currencies and in a sense, it can be said that the this is good for the market as the crypto investors and believers think that the BTC would replace the fiat currencies ultimately. Whether that would indeed happen is anybody’s guess but atleast we are seeing the BTC volatility match that of the fiat.

BTC Prices Slow and Steady

Though this may not seem to be like a great boost for the market, it should be viewed from the larger perspective and this would also mean that it would encourage the larger investors and funds to take the plunge into the crypto market. So far, the large volatility has been able to keep them at bay but now that they see that the volatility is low, they would be more confident of getting more returns from such a market and they would be in a position to invest confidently at this point of time. This is probably the reason why we are not seeing the prices not falling even though the market is still bearish.

The ETH prices have also been trading confidently above the $200 region and this is probably where the market is going to consolidate and the bulls are going to try and push higher in due course of time after the large fall in the prices that we have been witnessing over the last few months or so.

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Forecast

Looking ahead to the rest of the day, we do not have any major fundamental or economic drivers as usual and so we can safely say that the consolidation and the ranging would continue for today as well. The market is likely to be in the stable state in the near future.