Bitcoin and Ethereum Price Forecast – Prices Move Higher, Looking to Breakout

The bitcoin prices have started moving higher again and it seems to be only a matter of time before the all time highs generated earlier would be challenged and it would be interesting to see how the prices move once they hit that region. As we have been saying all along, with the number of bitcoins being restricted, the trend is likely to be up as long as bitcoins continue to be used for transactions and as long as the bitcoin network is able to sustain itself through the various ups and downs that it is likely to see.

Get Into Bitcoin Trading Today

Bitcoin Prices Move Towards Highs

It is this part that is likely to be challenged when the bitcoin network undergoes a hard fork and the outcome of this fork would again be watched very closely on how the network would be dealing with it. This fork is likely to be more difficult than the first one in August as the network is split into two and both the sides are at loggerheads with each other on the approach to the fork. But these forks are an important aspect for the network and the technology to grow and hence cannot be avoided.

Ethereum prices also followed the bitcoin prices and have since moved through the $330 region and looking ahead to the next target at $340. The ETH network is also scheduled to undergo a fork in September and if it manages to get through the fork without much impact, we could see a string bullish leg in ETH in the short and medium like what we are seeing in bitcoin.

Forecast

Looking ahead to the rest of the day, we expect both the bitcoin and ETH prices to challenge the range highs at around $4400 and $340 respectively and if the prices do manage to break through, then we are likely to see the next bullish leg in both the pairs over the weekend.

The Best and Safest Way to Buy and Sell Bitcoins

Virtual currency is becoming more popular by the minute. It’s starting to seem that everyone wants in, yet it isn’t always so easy to get cryptocurrencies. Coinmama allows you to purchase Bitcoin through credit card or cash in sizes that will suit your needs! Click Here for More Info