The Analysis Company, Anticipating an Increase in Bitcoin in July, Reveals its Third Quarter and Year-End Forecasts!
QCP Capital, a Singaporean crypto investment firm, predicts a general upswing for Bitcoin in July following a disappointing month of June.
In its recent report, QCP Capital highlights that historical data suggests July tends to bring about positive developments for BTC. Despite recent market sales, the options market remains in an upward trend, indicating an overall expectation for growth by the end of the year.
Analysts from QCP Capital note that option traders are purchasing options valued between $100,000 and $120,000 for the year-end, further supporting the expectation of an upward trajectory. However, the third quarter is expected to be relatively stagnant due to uncertainties surrounding the Mt.Gox situation.
The recent statement by Fed Chairman Jerome Powell regarding the deflationary path of the US economy has led to new highs in the stock market. However, this bullish momentum has not translated to BTC and ETH, with prices hovering just above $60,000 and $3,300 respectively.
Despite spot selling, the options market remains heavily tilted towards the upside, suggesting that the market is still anticipating a year-end rally. This observation aligns with the significant buying interest in long-term options valued between $100,000 and $120,000.
Looking ahead, QCP Capital forecasts a sluggish third quarter for BTC due to uncertainties surrounding the supply resulting from Gox refunds.
Please note that this article does not provide investment advice.
To invest in over 300 cryptocurrencies, you can register with Binance exchange using this link for a 20% commission discount!
For exclusive news, analytics, and on-chain data, follow our Telegram and Twitter accounts.
0 Comments
