QCP Capital Says Bitcoin May Decline for This Reason: But the Rise Will Continue! - Coin Newsletter

Cryptocurrency trading firm QCP Capital has made statements regarding the current state of the market.

In their post on March 12, QCP Capital analysts analyzed the current state of the cryptocurrency market. Stating that the course of the cryptocurrency market in general is positive, analysts said that the volume for Bitcoin supports this.

According to analysts, Bitcoin is one step closer to becoming the true "Digital Gold, surpassing the market capitalization of silver.

On the other hand, it was stated that the US Consumer Price Index (CPI) data to be released on March 12 and the FOMC meeting to be held next week could lead to short-term declines, while it was predicted that these declines would be strongly bought by investors.

As for Ethereum, it was emphasized that the fact that the United States is increasingly unlikely to approve spot Ethereum exchange-traded funds (ETF)** next May could have negative effects, or at least weaken the positive expectation:

The 1-2 month risk ratio in ETH has dropped from positive to -5% as the market has started pricing in a relatively low (35%) probability of spot ETH ETFs being approved by the May/June deadline. Things are less optimistic for Ethereum.