Cryptocurrency analysis firm QCP Capital, Bitcoin’in (BTC) released a market update providing information on its performance and broader market dynamics following the end of the quarter.
QCP noted that the market experienced a predictable decline in volatility following last Friday’s record-breaking options expiry. “Volatility has fallen 2-3 points since then,” the analytics firm said. Despite consolidating near the lower end of BTC’s one-month range and posting modest returns in December, BTC price showed strong overall performance in the fourth quarter.
While December returns were lackluster, QCP suggested that recent activity, including Bitcoin purchases by Michael Saylor’s MicroStrategy, could point to further price support. According to the analytics company, Saylor’s newly released BTC purchase tracking system indicates further purchasing potential.
QCP displayed a cautious outlook in the short term, predicting that prices would remain calm in the coming weeks. “While there may be another round of buying, we don’t expect much in the New Year,” the firm said. Historically, average January returns (+3.3%) have been relatively close to December (+4.8%), and QCP predicts BTC prices will remain in the range until February, when market activity traditionally begins to pick up.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/analiz-sirketi-yilbasinda-bitcoin-fiyatinda-neler-bekledigini-acikladi/
