Bitcoin and Ethereum Price Forecast – BTC Prices Above $6700

The BTC prices have recovered over the last couple of days and trade comfortably above the $6600 region as of this region and even some bad news in the form of a hack at one of the South Korean exchanges seems to have had little impact on the market and the prices and the traders and the investors continue to believe that the overall direction is still up. Of course, it does help that the BTC futures have expired for this month which is likely to help lessen the pressure on the BTC prices in the short term. There is also a general belief, especially in the Asian markets that the bulls market is around the corner.

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BTC Prices Buoyant

This is generally based on the comparison with the prices over the course of last year when the prices picked up higher in a manjor way only during the second half of the year. We also saw that the prices have been generally low during the course of this year and hence investors assume that this is a long period of consolidation and accumulation which should pave the way for more and intense buying during the second half of the year. It has to be said that the market is only maturing and becoming more demand-worthy over the last few months and this is one of the major reasons why many continue to be bullish on the prices in the medium term.

The ETH markets have also been very solid and bullish over the last couple of days as the prices have been trading comfortably above the $500 region over the last few hours and it appears as though the traders are just waiting for an opportunity to go long in this market.

Forecast

Looking ahead to the rest of the day,we believe that the buoyancy in the crypto markets will continue through to the weekend and if this continues, it could open the way towards $7000 and beyond for the BTC market.