Bitcoin price seems to be stuck around the USD 6,400 mark for the past week.
A look at the past 7 days shows BTC had a high price mark of USD 6,532 on October 16th and a low of USD 6,405 on October 20th. It appears BTC is stalling in a price range that is keeping investors optimistic.
Last week when BTC hit a high of USD 6,532 there was a bullish pattern developing. That was a good sign for the top cryptocurrency. The bullish pattern quickly faded and prices did not hold. The good news is the price stayed above the support seen at USD 6,400. If BTC can find a push it could reach USD 7,000 or above, while a close short could see a drop to USD 6,000.
Ethereum, similar to BTC, has also seen prices stall for the past week. ETH prices are hovering right around the USD 200 support area. Ethereum saw a high mark of USD 211 on October 16th and a low of USD 201 on October 19th. A strong push this week could see prices reach USD 220. A downturn could see prices drop below the USD 200 support.
Other Altcoins Update
Several altcoins showed great growth over the past 7 days. One of the biggest gains was Ravencoin (RVN) which is up over 145% in the past week. Prices went from .01 to over .06. Another alt Nexo (NEXO) made nice strides gaining 43% in the past week. The last altcoin to spotlight this past week is Veritaseum (VERI). At one point back in January (VERI) was trading for USD 474. It dropped all the way down to only USD 15. In the past 7 days VERI has rebounded 72% and is right at the USD 34 mark.