Bitcoin continued to rise higher and make new all time highs as they broke through $8100 over the last 24 hours and continue to trade comfortably above it as of this writing. We have been saying that the break through the $8000 region was likely to spur another round of bullishness in the prices of bitcoin and that is what we have been seeing. Since bitcoin is the flag holder of the crypto currency, if the prices of bitcoin do well, we see that the prices of all other cryptos also rise and this just shows how important bitcoin are for this industry and bitcoin has also been repaying this faith by continuing to be resilient in the face of all kinds of methods being adopted to put it down and it has been rising again and again.
Bitcoin Prices Move Higher
Now there is growing talk of even the CBOE thinking of launching BTC options in the near future and this is just a further signal that this industry is only going to grow in the future and any talk of this industry going down or being in a bubble has to wait for a few more years. It is fundamentals like these that have been helping the prices to continue to move up and we should see some resistance in the $8200 and if there is any breakout through this region, then we should see the prices move towards the $8500 and $8800 region in due course of time. We wouldnt be surprised to see the prices being $10,000 by the end of the year.
The ETH market has also been rejuvenated in the latest round of bullisness in the cryto market and now it is moving towards the highs of its price range. The prices trade comfortably above $360 as of this writing and it is only going to move even higher in the coming days and we should see the prices challenging the $400 region in the short term.
Looking ahead to the rest of the day, we expect the crypto markets to continue to remain buoyant through the course of the day and this would only mean that the prices of BTC and ETH continue to move higher.
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