QCP Capital, a Singaporean crypto investment firm, has made its predictions for the third quarter and year-end, anticipating a rise in Bitcoin for July despite a disappointing month in June.
According to historical data, QCP Capital’s report suggests that July typically sees an increase in BTC. The options market is also showing an upward trend, indicating that the market is anticipating a rise by the end of the year.
Despite recent spot selling, the options market still favors an upward movement, with traders purchasing long-term options between $100,000 and $120,000. This suggests that the market is still waiting for a year-end rally.
However, uncertainty surrounding Mt. Gox may lead to a stagnant third quarter for BTC. The recent statement from Fed Chairman Jerome Powell about the US economy’s deflationary path has not translated into bullish momentum for BTC and ETH, which are currently hovering around $60,000 and $3,300 respectively.
It’s important to note that these predictions are not investment advice. For those interested in investing in cryptocurrencies, Binance exchange is offering a 20% commission discount for registering through their platform.
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