Yahoo Finance Bitcoin and Ethereum Price Forecast – BTC Prices Back Into Consolidation
The BTC prices have continued to consolidate and range over the weekend as the fundamentals and any kind of economic push has been lacking in the market over the weekend. Even the news media related to crypto did not have much to report about and the general lull in the markets has been seen in the BTC market as well as the BTC prices continue to hover around the $6500 region for another couple of days.
This has been going on for quite some time now and by now, many of the traders and the investors seem to have been lulled into a period of slowness and dullness in the markets and they don’t seem to be complaining anymore. This has only sought to make the market duller and this has led to the fall in liquidity in the markets as the short term traders move out.
BTC Market Slow
The whole thing has now become a cycle and made it very difficult for the crypto markets to come out of the rut that they seem to be finding themselves in right now. We will have to wait and see where the next push is going to come from as there are not many fundamental changes that are being expected in this market at this point in time. Also, the market has become mature enough to handle any news or event and the volatility of the market has not been as before as the market has become immune to those changes.
The ETH market has been comparatively buoyant as the prices continue to trade above the $200 region as of this writing. They seem to be buoyed by the fundamental developments in the network and this bodes well for the future. The prices might have made a better run higher if the rest of the crypto markets had cooperated but with the overall market being caught in a rut, there is not much for the ETH traders to hope for.
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Forecast
Looking ahead to the rest of the day, expect some more of the same consolidation and ranging that we have been seeing in the markets over the last several weeks. We do not find any reason, fundamental or otherwise, for this to change in the near future.
This article was originally posted on FX Empire
