The BTC prices spent much of the time over the last 24 hours in a state of consolidation and ranging as the traders come to terms with the fall in the prices over the last couple of days or so. The fall in the prices came through due to reports that said the Goldman Sachs was re-thinking its crypto strategy and this led to fears that the adoption of cryptos by the main financial industry would be jeopardised and that it could get delayed more and more pushing the market into difficulty without not much of support from the large investors and companies. This led to the fall in the prices and now we are seeing the prices back below the important $6800 region and this confirms the fact that the market has entered consolidation and ranging once again.
BTC Prices Slow
This is something that is going to irritate the retail traders even more as just when they were looking at a breakout and possible buying opportunities, the market enters back into the same range where it has been over the past several weeks. Now the bulls have to ensure that the lows of the range do not come under a lot of pressure and even if it does, they will have to ensure that it does not break. Now the bulls have all to do once again to push the prices higher but even if they manage to do so, they are unlikely to be joined by too many traders in their push ahead. Maybe this is what the big investors and traders want !The ETH market has also been suffering and it has been hit hard by the fall in the general crypto market and now we are seeing the prices trade just above the $200 region and it is indeed a great fall for the coin which was supposed to challenge the might of BTC in due course of time. It is unlikely that the prices are going to recover anytime soon.