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QCP Capital: Continues with mid-term bullish view, the crypto market is ready for a rebound

QCP Capital: Continues with mid-term bullish view, the crypto market is ready for a rebound

Bitget2024/07/15 12:52

In a market analysis released by QCP Capital, it was reported that the attack on Donald Trump last weekend triggered a rebound in cryptocurrency prices. The strong upward momentum continued into Monday's Asian trading hours. This trend seems to be due to the market pricing in Trump's victory in the upcoming election (similar to Reagan's performance after his attempted assassination in 1981), which is beneficial for cryptocurrency prices as Trump openly supports cryptocurrencies.

QCP Capital stated that the market was ready for a rebound because the German government had exhausted its supply and large hedge funds were actively buying call options last week. The attack on Trump was seen as a perfect trigger factor for those eager to go long. Given the continuous high demand for BTC spot ETF inflows and the upcoming launch of ETH spot ETFs as catalysts, QCP Capital maintains its medium-term bullish view.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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