Advertisement
Advertisement

Bitcoin and Ethereum Price Forecast – BTC Prices Truly Bullish

By:
Colin First
Published: Jul 25, 2018, 06:07 UTC

The BTC prices pushed through the $8000 region pretty easily confirming that the bull run is well and truly upon us

Bitcoin Wednesday

The BTC prices continued their bull run and have pushed through the $8000 region and now trade above the $8300 region as of this writing. The bull run started when the prices pushed through the highs of the long held range at $6800 and since that time, there has been no looking back for the BTC prices which have continued on their journey higher over the last week or so. The traders and the investors have been encouraged by this run and they have reacted to that by buying even more as those on the sidelines have also joined in the buying and this has only helped to spur the demand even more in the short term. This has led to the demand outstripping supply and hence the prices have been moving higher in a hurry.

Suggested Articles

BTC Prices Push Through $8000

We have been warning of such a bullish move for quite sometime now and the prices now seem set to push higher and the next target appears to be the $10,000 region. This region is likely to mount a serious challenge for the bulls and this is also the region where the bulls failed the last time. So, this is likely to be the next major target for the bulls and this time, the momentum appears to be there for a break. If the break does indeed happen, the bears are likely to scurry for cover and then the other traders are also likely to jump into the market which should then fuel the next phase of the bull run.

Bitcoin 4H
Bitcoin 4H

The ETH market, on the other hand, continued to trade in a dull manner and this is quite alarming for those who believed in its fundamentals and also in the strength of the market. Most of the other cryptos have also managed to join BTC in the current bull run but the ETH market has been left behind. It is likely that people are noticing this fact and we have to watch the price action closely from now on.

Forecast

Looking ahead to the rest of the day, there does not seem to be anything that can stop the bull run at this point of time and so we believe that the BTC prices will continue to move higher and the investors and the traders will be safe as long as they trade in the right direction and pick the right spots to enter the trade.

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

Did you find this article useful?

Advertisement