Bitcoin prices continued to go around in the last 24 hours without a specific address, but the pressure on prices is there and can be seen clearly. The prices went directly to the area of 14,000 dollars only to recover during the second half of the day and are now negotiated just below the area of 15,000 in this writing. Reports that South Korean regulators could go as far as closing the BTC markets had scared markets yesterday and pushed prices down, but what emerges from them today is much less important than what was feared.
Agitated prices
South Korean regulators have imposed some rules on local businesses that include gathering more information about customers and restricting the use of anonymous accounts by customers and this is probably the first in a series of restrictions on the markets But so far, this is far from the fears of some of the traders who had felt that they would close the markets completely. This is a relief for traders and since then it has driven BTC prices up. It is likely that the BTC prices will continue to be negotiated in the coming days, while we finish one of the most important years for this industry.
Bitcoin 4H
The ETH market has been stable, compared to the BTC markets, and seems to establish itself as a major player in this industry. Many traders believe that 2018 would be the year of Etereum, just as 2017 was the year of bitcoin. We continue to believe in the basics of ETH and will closely monitor how the situation develops.
Forecast
Looking for the rest of the day, some consolidation is expected in the BTC market, while ETH prices continue to be buoyant. We expect ETH prices to break the $ 1000 area within the next two weeks as they move into their next bullish stage