Bitcoin and Ethereum Still Lack Positive Long-term Price Momentum
A lot of people have high expectations for Bitcoin and Ethereum. Whether or not their prices will rise later this year, remains subject to speculation. According to financial expert Sandeep Singh Ahluwalia, things may not necessarily turn out all that spectacular. It is always important to keep one’s expectations in check, for obvious reasons.
Speculating on the future price of Bitcoin and Ethereum is pretty difficult. A lot tends to happen in the cryptocurrency world for no apparent reason. Ahluwalia predicts Bitcoin and Ethereum will see a price increase later this year. This is in line with how other experts predict things will evolve in the coming months. However, there are no wild expectations as far as this financial expert is concerned. Instead, he keeps a more level-headed approach, which is a welcome change of pace.
Short-term Gains for Bitcoin and Ethereum
While there is some positive momentum in the market right now, there’s no reason to get overly excited. After all, we have seen a massive downtrend during the first three months of 2018. Albeit not entirely unexpected, it still shook up quite a lot of people’s expectations. For Ahluwalia, it seems evident both Bitcoin and Ethereum will see further price rises in the coming days, and possibly even weeks.
However, one has to take into account how there will be some market resistance as well. More specifically, Ahluwalia claims Bitcoin might top out at just under $9,000. For a short-term gain, that is more than respectable. However, in the long-term, things will need to improve. For Ethereum, an imminent rise to $590 seems to be no problem. Anything beyond that, however, will be virtually impossible to sustain.
Assuming the predictions by Ahluwalia holds true, the short-term gains are almost locked in. However, the positive momentum will effectively run out at some point. Cryptocurrency remains a very volatile industry and it’s subject to wild speculation. The long-term picture still seems bullish as well, but we may not necessarily see a new all-time high later this year. Only time will tell what the future holds for both Bitcoin and Ethereum.
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