Analysis Firm Expecting Bitcoin to Rise in July Announces Third Quarter and Year-End Forecasts!

BitcoinAs a bad June comes to an end, Singaporean crypto investment firm QCP Capital expects an overall uptick in July.

At this point, according to the historical data in the report two days ago, July was generally BTC Stating that it brings an increase for QCP Capital, it announced its current forecasts.

Despite the sell-off, the options market is still trending upward, QCP analysts said, indicating that the market is still expecting a rally by the end of the year.

Analysts said the bullish expectation coincides with options traders’ purchases of $100,000-$120,000 for the end of the year. He predicted a slow third quarter due to uncertainty around Mt.Gox.

“The US stock market reached new highs following Fed Chairman Jerome Powell’s statement that the US economy is on a deflationary path.

However, the bullish momentum in the equity market has not been reflected in BTC and ETH, with prices hovering around $60,000 and just above $3,300.

Despite the spot sell-off, the options market is still heavily tilted in favor of the top, suggesting the market is still waiting for a year-end rally.

This also aligns with his observation of significant buying interest in 100k-120k long options.

Looking ahead, we anticipate a sluggish Q3 for BTC as the market remains uncertain about supply from Mt. Gox redemptions.”

*This is not investment advice.