Bitcoin and Ethereum Price Forecast – Bitcoin Prices Crack $10,000

The bitcoin prices have finally cracked the $10,000 mark, something that we have been anticipating since the beginning of the week. The latest moves in the bitcoin market have been really quick, even by BTC standards and that has made some of the traders and the investors a bit jittery and they are being faced with the usual emotional conundrum of whether to join the bitcoin race and continue to buy it even at these levels or whether to wait for a correction and then it on their buys. It has been a period of fast developments in the bitcoin market over the last couple of months and some of the traders have been finding it difficult to keep pace.

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Bitcoin Prices Push Through $10,000

The drive higher has been made possible due to some positive news in the form of the cancellation of the hard fork that was scheduled in the middle of November. Though the cancellation was immediately followed by a correction, it helped to prevent many investors and miners from moving away to another new coin and was thus useful for the bitcoin market in the long run. Also, over the last month or so, we have been hearing of increasing talk from various major exchanges like the CBOE who are planning to introduce bitcoin futures in their markets. This is a sign of the growing important of bitcoins and would only help it to mature. All these positive signals have helped the bitcoin prices to move higher and through the $10,000 region as of this writing.

The Ethereum market is back to its slumber as all the focus seems to be on the bitcoin market for now. It has failed to follow the BTC prices higher and it looks as though the ETH bulls have to wait longer for the prices to reach the $500 region. Again, we believe that this will be only a matter of time before it happens and any sort of correction in the prices can be used as an opportunity to buy.

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Forecast

Looking ahead to the rest of the day, we have to wait and see where the current bullish leg is going to take the bitcoin prices to. So far, the price has been very strong and it would not be wise to jump in at this stage. The ETH market is likely to continue to consolidate as the focus remains on the bitcoin industry.

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