Bitcoin and Ethereum Price Forecast – BTC Prices Rebound Again

The BTC prices threatened to crash lower during the last few days but have staged a smart recovery over the weekend and now trade above the $9000 region as of this writing. It is indeed a smart rebound from the bulls but they have to keep in mind that they are not out of the woods as yet. There has not been much fundamental reason for the move lower though the reports of the Japanese regulators shutting down certain exchanges could be attributed to some of the panic. The prices continue to struggle to break through the $10000 region and this must be a cause of concern for the bulls.

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BTC Prices Rebound Above $9000

Even during those times that the bulls have been able to break through this region, they have not been able to ensure that the prices sustain over there and this has in turn led to drops lower and in turn, this has led to the confidence of the investors taking a large dip as well. It remains to be seen how the bulls are going to manage this situation in the short term as they mount another challenge at the $10,000 region during the course of this week. We expect the consolidation and ranging to continue for the medium term as the focus shifts to the other coins during this period.

The ETH prices have also dropped lower and though they have managed to recover above the $700 region, they have not been able to gather any kind of momentum and seem to be continued to be wrapped in risk and uncertainty over the past few weeks. This is expected to continue in the short term and keep the prices under pressure for now.

Forecast

Looking ahead to the rest of the day, expect both the BTC and ETH markets to be choppy as a lot of traders return back to their desks after the weekend and they are likely to impose their emotion on the market which would then push and pull the prices in all directions.