Yahoo Finance Bitcoin and Ethereum Price Forecast – BTC Prices Stay Weak
The BTC prices have been floundering over the weekend and it has been the ETH market that has been the focus of attention and the focus of selling so far in the market. The BTC market has also been suffering but it has been able to survive fairly better when compared to the ETH market that seems to have borne the brunt of the latest round of selling. The BTC prices continue to hover around the $6300 region as of this writing and this is in the middle of the range that we have been seeing in the markets over the last few months. It is apparent that the retail traders are beginning to lose interest over the fact that the market has not been giving them the liquidity and the volatility that we had seen over last year and this has certainly put off the day traders and the speculators.
BTC Prices Still in a Range
This has affected the markets even more as it has led to the drying up of the liquidity and the volatility even more in due course of time. We will have to wait and see how the price action pans out in the short term and the bulls would be hoping that they would be able to keep the prices higher and in a buoyant manner so that the traders and the investors would continue to be invested into the market. If not, it is only going to increase the speed of the fall and this could place the entire crypto market into jeopardy, which is something that the traders and the investors would not want.
The ETH prices have also been suffering during this period and we saw the prices dip below the $200 region for a sustained amount of time over the weekend showing the weakness in this market. The ETH market has been losing its value pretty fast and it risks losing its No. 2 position over the coming months with various other coins and blockchains jostling for space and attention.
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Forecast
Looking ahead to the rest of the day, we do not expect anything to happen that would reverse the fall that we have been seeing. Expect more of such weakness and more of liquidity issues as time goes on with no end in sight to the weak consolidation and ranging that we have been seeing in the markets over the last few months.
This article was originally posted on FX Empire
