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BTC Prices Buoyant
The market is also awaiting the return of the Chinese traders but whether they would have an impact on the markets as they used to is something that remains to be seen. But the BTC prices seem to be doing well even without them onboard and being away on holiday. There have not been much fundamental developments in the industry over the last 24 hours except for the usual calls for more security and more regulation from the various leaders and central banks and the authorities as well, especially in the light of some hacks that have been happening at the various exchanges.
The ETH prices had been tracking the BTC prices quite closely since the beginning of the week but they seemed to have lost touch from yesterday as one of the developers in Ethereum has had to resign due to legal issues that he has had to deal with. This is considered as a temporary setback to the ETH market and as a result of that, its progress towards the $1000 seems to be on hold for now.
Looking ahead to the rest of the day, expect some slowing down of the move higher in the BTC prices as it enters a region of selling and this could affect the ETH prices as well as we head into the weekend. This could lead to some consolidation and ranging in the coming days.