- QCP Capital remains bullish on the crypto market for the year-end.
- The rate cuts by banks will result in monetary easing, pushing crypto higher.
- The crypto market was disappointed by the recent Musk and Trump meeting.
Singapore-based digital asset firm QCP Capital maintains a bullish outlook on the crypto market for the year-end, stating that the global macroeconomic conditions will definitely push the price of Bitcoin (BTC) and other cryptocurrencies higher in the near future. However, the digital asset space is currently facing a slump.
In a post on social messaging application Telegram, QCP pointed out that U.S. equity markets have returned to trading at all-time highs due to “slowing U.S. inflation boosting market confidence.” They also highlighted that:
“Continued rate cuts by major central banks like RBNZ reinforce the wave of global monetary easing.”
Despite the current dip, QCP remains bullish in the long term and expects the crypto market to turn around by the end of the year, testing new highs. At the time of publication, Bitcoin (BTC), the world’s largest cryptocurrency, is trading at a price tag of $59,271, unable to break through an…
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Source: https://coinedition.com/qcp-capital-cryptos-down-but-not-out-heres-why/