Advertisement
UK markets open in 35 minutes

  • NIKKEI 225

    38,229.11
    +155.13 (+0.41%)
     

  • HANG SENG

    18,902.36
    +364.55 (+1.97%)
     

  • CRUDE OIL

    79.89
    +0.63 (+0.79%)
     

  • GOLD FUTURES

    2,366.70
    +26.40 (+1.13%)
     

  • DOW

    39,387.76
    +331.36 (+0.85%)
     

  • Bitcoin GBP

    50,144.23
    +954.70 (+1.94%)
     

  • CMC Crypto 200

    1,351.10
    -6.91 (-0.51%)
     

  • NASDAQ Composite

    16,346.26
    +43.46 (+0.27%)
     

  • UK FTSE All Share

    4,558.37
    +14.13 (+0.31%)
     
Money:

Best UK mortgage deals of the week

As Bank of England holds interest rates, here's what high street banks are offering home buyers

Bitcoin and Ethereum Price Forecast – BTC Prices Skyrocket as ETH Lags

Colin First
Updated

Bitcoin prices crashed through the all-time highs over the last 24 hours to set a new record high as the prices have recovered massively and quickly ever since the drop that we saw a week back on the back of cancellation of the hard fork. This cancellation saw many miners and investors leave the main bitcoin in search of more stable coins but as the prices have since shown some stability and we are seeing more and more companies also begin to adopt bitcoins, it is only a matter of time that the prices began to gain again.

Get Into Bitcoin Trading Today

Bitcoin Prices Push Towards $8000

We had mentioned as such in our previous forecast and had advised traders to view the drop in prices as only a correction. We had also pointed out to the gaining momentum in the prices and we have seen the impending breakout over the last 24 hours. There does not seem to be anything that can stop the train at this point of time and we should see $8000 pretty easily in bitcoin over the next few hours or within the next 24 hours. The next stop after that would be $8300 followed by $8700 over the weekend.

Bitcoin 4H
Bitcoin 4H

The Ethereum markets have been buoyed by the fork cancellation in bitcoins but the prices have not been able to build on the momentum. The buoyancy helped the prices to push through $300 and now trade comfortably above that region but the market has found a lot of selling in the $340 region over the last 24 hours which has capped the prices for now. The lack of further momentum could make the investors lost interest and we would see a correction back to $300 unless momentum picks up quickly.

Forecast

Looking ahead to the rest of the day, we are expecting the bitcoin prices to crack $8000 during this period and continue onwards with its merry ways. The Ethereum market is clearly lagging behind and as said above, it could lead to a correction back to $300 over the weekend.

ADVERTISEMENT

The Best and Safest Way to Buy and Sell Bitcoins

For those who are looking to take advantage of Bitcoin and other cryptocurrencies price fluctuations, some brokers provide traders with instant access to trade Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies. The process is fast and easy with convenient and advanced trading platform (desktop and mobile), low spreads and instant execution. Click here for more details.

This article was originally posted on FX Empire

More From FXEMPIRE: