Bitcoin and Ethereum Price Forecast – BTC Prices Cross $9000

The BTC prices have continued their recovery over the last 24 hours as they have since broken through the $9000 region as of this writing and now the bulls should be gunning for the $10000 region once again. The market has been able to heave a sigh of relief as the G20 meeting ended with not much of bad news and that is in itself some positive development for the crypto industry and the traders are now emboldened to enter back into the markets. Also, this is the tax season in many parts of the world and the combination of these events has sought to keep the crypto prices under pressure but now, the prices are likely to see the pressure slowly releasing and hence we should see the BTC prices well and truly on their way in their next bullish leg.

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Prices Push Higher

Now that the next bullish leg is upon us, we are likely to see the BTC prices enjoy a free ride towards the $9400 region where they are likely to face a bit of selling and then the $9800 region where they are likely to see some more selling ahead ot the $10000 region. This is likely to be the short term target of the bulls and hence traders can have this as their target as well. We have been saying that this is a period of bullish consolidation and the market is expected to pick up even more in the coming weeks, as long as there are not any major bad news for the traders.

The ETH prices have also been on the path to recovery though the rebound in the ETH prices seem to be happening in a much slower manner. The prices have been trading above the $550 region for most of the last 24 hours and the next target of the bulls would be the $600 region.

Forecast

Looking ahead to the rest of the day, expect the bullishness to continue for the short term as we wait for the investors and the traders to begin to roll which should help to build up the volatility in the short term. ETH prices are expected to rise slower though.