Bitcoin and Ethereum Price Forecast – Prices Push Higher

The BTC prices continued to move ahead in a slow and steady manner and the market is now trading in the $8300 region and though the progress has been slow, it has been steady and it shows a determination from the bulls to push the prices higher in due course of time. We expect this bullish run to continue in the short term.

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Prices Looking Ominous

The BTC prices have been making some strong progress over the last few weeks ever since it found some strong support in the $6600 region. We had pointed out at that time that the market was making repeated attempts to break lower but that it was met by some strong buying all the time and that if it continued, then we should witness a turnaround. This is what has happened over the last couple of weeks or so as the prices have pushed through on the bullish leg and continue to push higher.

We believe that the next major target for the bulls would be the $10,000 region and the way that the prices have been progressing so far, with corrections and consolidations in between, we can clearly see that the bulls are firmly in control and it also shows how the market is being very mature in either direction as we do not see the major volatility that we used to see in the markets over last year and it has been more about slow and steady moves in either direction in line with the overall trend that we have been seeing.

The ETH prices have also been moving higher but as we had pointed out earlier as well, the momentum in the ETH market seems to be higher at this point of time as the network and the project as a whole is getting better and gaining more traction in the days ahead.

Forecast

Looking ahead to the rest of the day, we should see the prices continue to rise though the momentum in the prices could be a matter of concern for certain traders. We expect the prices to push through during the weekend as well and we would not be surprised if the BTC prices are trading in the $8800 region and above in the new week.