Cryptocurrency analysis and trading company QCP Capital said that as we approach the end of the third quarter of 2023, the Bitcoin (BTC) decline will continue until the end of this month.
QCP Capital September 12 In a statement made on , he made predictions about how the cryptocurrency market will close the third quarter. Reminding that we have entered the last three weeks of the third quarter, the company stated that this quarter Bitcoin for may close at lower levels and argued that a possible decline was imminent.
in mid october Expecting a bottom, the company’s collapse scenario was based on factors to be taken into account. It will be announced first tomorrow US Consumer Price Index (CPI) Arguing that data coming in higher than expected could affect the markets, QCP Capital is calling for a more hawkish than expected Federal Open Market Committee meeting next week. (FOMC) He emphasized that the report could escalate things further.
On the other hand, cryptocurrency exchange FTX’s liquidation possibility in line with Billions of dollars worth of cryptocurrency While it was stated that the sale situation was at the door, in October Mt.Gox Bitcoins He was reminded that he could also move.
Bitcoin rises after bottom
QCP Capital, despite these declines end of 2023 And In the first quarter of 2024 He stated that he expected increases:
So our theory points to a bottom early next month. On the other hand, we estimate that the real bottom will occur in mid-October, when the bad news cycle has run its course. However, the upward trend will continue until the end of the year and the first quarter of next year.