Encouraging Bitcoin Analysis by QCP Capital Experts: “The Bull Run is Far from Over in Bitcoin!” Below are the Comprehensive Insights of the Report!
Despite the recent concerns surrounding Bitcoin’s dip below $61,000, the cryptocurrency has reclaimed strength and surged above $67,000 following the FED meeting.
Amidst divided opinions among analysts regarding BTC’s future movements, QCP Capital analysts have published a positive report that instills confidence in Bitcoin investors.
The report acknowledges the potential negative impact of reduced inflows into spot Bitcoin ETFs, as well as the largest single-day outflows ever recorded. However, the analysts suggest that these outflows might simply be a result of position adjustments prior to the FOMC. Importantly, they affirm that their bullish expectations remain unchanged.
“BTC spot ETF inflows reached their peak at $1,045 million on March 12. Nevertheless, net inflows have since diminished, coinciding with a decline in spot prices,” the report states. Moreover, the word highlights that Bitcoin experienced a sudden drop to its lowest level of $60,770 as a response to these outflows.
Despite recent market fluctuations, the analysts assert that they firmly believe the bull market is ongoing and anticipate new record highs post-halving. They state, “Our view is that the bull market is not over yet. We are amidst a broad liquidity rotation that will propel Bitcoin to reach unprecedented heights after the halving. However, considering the prevailing leverage, a significant short-term correction is possible.”
As a final note, it’s important to emphasize that this analysis should not be considered as investment advice, but rather as valuable insight from QCP Capital analysts.