Bitcoin and altcoinWhile the mobility and search for direction in the world continues BTC After yesterday’s decline, it rose again above $ 26,000.
While investors wonder whether this rise will continue, cryptocurrency analysis company QCP CapitalA report came from which will upset investors.
QCP Capital analysts, who shared their opinions on Telegram, said that they expect another decline soon.
Analysts who believe that this decline will be the bottom point to the CPI figures and those to be announced next week. FOMC He argued that the minutes would be effective.
Because the company expects the CPI to be higher than expected and the FOMC minutes to be more hawkish.
QCP Capital analysts said that although they expect a decrease in the short term, they continue to expect an increase in the long term, that is, for the end of 2023 and the first quarter of 2024.
“We are now just over three months away from 2024 and we are into the last three weeks of the third quarter.
We think that the recent declines in Bitcoin and altcoins are not the last and that we will close the third quarter at the lowest levels.
At this point, we expect a final decline to occur soon, where we will see the bottom level.
This decline will likely be compounded by higher-than-expected CPI tomorrow, more hawkish-than-expected FOMC minutes next week, FTX’s potential cryptocurrency sales, and Mt. Gox will trigger the event.
That’s why we think the real real bottom will come in mid-October, when the bad news cycle ends.
However, we continue to rise until the end of the year and the first quarter of next year.”
QCP capital: We expect an imminent final decline to close out the quarter at the lows. This includes a likely higher-than-expected CPI tomorrow and a more-hawkish-than-expected FOMC next week, plus FTX token asset sales, and Mt. Gox over the next month to cap things off. We…
— Wu Blockchain (@WuBlockchain) September 12, 2023
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!