Cryptocurrency markets continue their upward trend after the halving event of Bitcoin (BTC) for the first time in the last four years. Meanwhile, predictions about the post-halving period continue to come from many companies. Here are the details…
QCP Capital: Altcoins are preparing for short squeeze
cryptokoin.com As we reported, the halving took place on Saturday night. Following this incident, Bitcoin began trading above $67,000, increasing by more than 3% in the last 24 hours. According to the views of QCP Capital, a leading hedge fund, altcoins are preparing to squeeze short positions in this bullish wave. In general, the effects of halving are listed as follows:
- Price Increase: Bitcoin may experience short-term weakness as miners dump their BTC inventories to maintain operational stability following post-halving revenue disruptions.
- Long-Term Uptrend: In the long term, historical models show an upward trend for Bitcoin prices approximately 50-100 days after the halving events. This presents an opportunity for BTC bulls to create larger long positions.
- Decline in Funding Rates: The decline in funding rates for leveraged derivatives trading and the fact that some smaller cryptocurrencies are facing negative funding rates indicate an environment ripe for a potential short squeeze.
Bitcoin bull prediction from Standard Chartered
Geoff Kendrick, director of digital assets research at Standard Chartered, predicts that despite the recent pullback, the Bitcoin price could reach $150,000 by the end of the year, a 127% increase. Kendrick explains that behind this rise lies increased investor inflows and approval of Bitcoin ETFs. We can summarize the bank’s forecast as follows:
- Year End Goal: $150,000 (127% increase from March 2024 level)
- 2025 Goal: $250,000 (266% increase from March 2024 level)
- Main Reasons:
- Increase in investor inflows
- Approval of spot Bitcoin ETFs
- Maturation of the crypto ETF market in the US
- A huge wave of investor inflows
- Potential Risks:
- Cuts in mining revenues after halving
- Geopolitical tensions in the Middle East
- General risk perception towards crypto markets
Crypto hedge funds like QCP Capital argue that altcoins are preparing to squeeze into short positions. The decline in funding rates and the fact that some smaller cryptocurrencies are experiencing negative funding rates support this squeeze theory. Cryptocurrency markets continue their upward trend after the halving event. While there may be a weakness in Bitcoin in the short term, a significant rise is expected in the long term. There is a risk of being squeezed in short positions in altcoins. It is important for investors to invest consciously, taking into account risk management and market analysis.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.