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Bitcoin and Ethereum Price Forecast – BTC Prices Crash Through Support

Bitcoin and Ethereum Price Forecast – BTC Prices Crash Through Support

Bitcoin and Ethereum Price Forecast — BTC Prices Crash Through Support

The BTC prices have fallen hard over the last few hours and the prices now trade below the $7500 region as of this writing. We had mentioned yesterday that the support region around $7800 was under severe pressure and if and when there is a break through this region, we should see the bears back in control and that’s what we are seeing now. There are no specific reasons for the fall in prices, as the BTC prices lack fundamentals but we could say that the general risk off sentiment that is seen in the markets could also be one of the reasons.

Prices Below $7800

The lack of fundamentals is also telling and the lack of momentum from the bulls could also be attributed to this fall. The prices have been trading near the support region for far too long and the investors and the traders, who are weak holders, have got tired of this loss of momentum and they were looking for the first opportunity to exit the market and once they saw that the prices began to fall slightly, they have taken the opportunity to sell off and push the prices even lower. Now, we are probably looking even further below for support which could once again come in the $6600 region but if and when the prices get there, we could be seeing some serious panic in the markets.

 

The ETH prices have also crashed lower and the prices are now trading below the $600 region as of this writing. Just as how the move higher in the prices was strong, we are seeing the move lower also being quite strong and this has led the markets to be under a lot of pressure of late. We believe that the market is likely to find some support in the $580 region but we have to see whether that would be enough to hold off the selling that we are seeing.

 

Forecast

Looking ahead to the rest of the day, we could see the selling continue for the short term though some decent supports are nearby in both the BTC and ETH markets. We would wait to see a turnaround in the risk sentiment and if and when that happens, we could see the prices move up higher.

 

Author Colin First

 

Alan Zibluk Markethive Founding Member

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1,200 NEWSSTANDS IN AUSTRALIA NOW SELLING BITCOIN AND ETHEREUM

1,200 NEWSSTANDS IN AUSTRALIA NOW SELLING BITCOIN AND ETHEREUM

1,200 NEWSSTANDS IN AUSTRALIA NOW SELLING BITCOIN AND ETHEREUM

As of today, Australians are now able to buy Bitcoin and Ethereum from more than 1,200 newsagents around the continent.

AUSTRALIA FOR BITCOIN

Buying Bitcoin or Ethereum in Australia is now as easy as walking to the nearest newsstand.

Cryptocurrency exchange bitcoin.com.au has launched the convenient service, after installing out the infrastructure in various locations since 2016.

Though easier than ever, many individuals still aren’t accustomed to the idea of buying a digital product from a physical vendor. In an interview with 9Finance, CEO Rupert Hackett explains:

When your product is totally digital it can be hard to gain trust from consumers because there’s no tangible product being handed over. Using newsagents provides consumers with a convenient and trusted way for investors to buy cryptocurrency.

The addition of Ethereum sales to the Bitcoin-focused exchange’s might come as a bit of a surprise, but Hackett claims it was necessary, due to the steep price tag of Bitcoin potentially scaring off new investors:

Traditionally, the only people who knew about Ethereum or wanted to buy it were those who already had bought Bitcoin. But now that cryptocurrency is more well-known we found that Ethereum’s cheaper price point made it a more digestible value proposition for buyers.

Assuming users have properly set up their own mobile, desktop or cold-storage wallets, Hackett says buyers will have their cryptocurrency of choice in their digital wallets in 20 minutes or less, on average.

Purchases from these newsstands aren’t exactly cheap, however. Purchase made on March 1 are fee-free, but any purchases made after that carry a rather hefty 5 percent fee. Hackett claims the fee is worth it, however, for the convenience, explaining:

The fact that you can now buy Bitcoin and Ethereum from the same place you purchase soft drinks and stationery really speaks to how institutionalised cryptocurrency has become. For anyone who has hesitated about buying Bitcoin because it all seemed too complicated, this is the perfect setup that takes the fear factor out of investing in digital currencies.

The increased ease of purchase for Australians undoubtedly represents yet another positive step towards the mainstream adoption of Bitcoin and Ethereum as viable cryptocurrencies.

 

Author: ADAM JAMES · MARCH 1, 2018 · 6:00 PM

 

Posted by David Ogden Entrepreneur
David Ogden Cryptocurrency Entrepreneur

Alan Zibluk Markethive Founding Member