Bitcoin

As the negative trend in <a href="https://en.coin-turk.com/pepe-influence-on-bitcoin-unprecedented-since-2021-finally-achieved-what-ensues-now/" data-wpel-link="internal">BTC</a> price continues, the battle at the $26,800 support level is still ongoing. Investors are concerned about further losses in altcoins as the weekend approaches. We regularly share market predictions by QCP analysts. So, what do the latest comments indicate for <a href="https://en.coin-turk.com/expert-analysts-latest-market-predictions-and-bitcoin-outlook/" data-wpel-link="internal">Bitcoin</a> and altcoins? And what is CAPO’s DXY forecast? 
<h2 style="text-align: justify" id="expert-analysis-of-crypto-markets">Expert Analysis of Crypto Markets</h2> 
Approximately three weeks ago, QCP analysts stated in their evaluation that if the BTC price did not exceed $32,000, it could hit a bottom between $23,000 and $22,000. Historical data also shows that the king of cryptocurrencies tends to hit a bottom about six months before the halving event. However, this scenario did not materialize as BTC is still struggling at the $26,800 support level. 
In their most recent market analysis, QCP analysts stated: 
<blockquote> 
 “The weakness in BTC and <a href="https://en.coin-turk.com/ethereum-whales-accumulating-millions-of-eth-despite-selling-pressure/" data-wpel-link="internal">ETH</a> continues unabated this quarter, and it has completely diverged from other macro markets since the Israel-Gaza conflict after the data released on Friday.” 
</blockquote> 
<img decoding="async" class="size-full wp-image-266239 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/QCP-Grafik.jpeg" alt="" width="1280" height="964"> 
<blockquote> 
 “Interest rates led to a major reversal after the NFP on Friday. However, the crypto market failed to keep up with the reversal and fell to its lowest levels of the month. We attribute much of this to the shocking disappointment of the ETH ETF, which trades roughly 0.2% of the volume of the BTC ETF traded two years ago. This was probably a surprise to many who believe that institutions are on the brink of mass adoption of ETH, but we believe it reflects more skepticism about the current futures ETFs in this space.” 
 We believe that BTC and ETH’s relatively low upward performance can trigger a downward movement with the stronger-than-expected CPI. 
 To determine the trend, we will monitor the $25,000-$26,000 level in BTC. If there is a reversal, it should surpass $30,000.” 
</blockquote> 
In summary, analysts maintain a negative outlook. 
<h2 style="text-align: justify" id="capo-and-dollar-index-forecast">CAPO and Dollar Index Forecast</h2> 
The dollar index has an inverse correlation with BTC. This means that if the dollar strengthens against selected fiat currencies, these cryptocurrencies may lose more value. Macro data, along with concerns about the war and its impact on economic growth, caused the DXY to rise again. This is one of the reasons for the negativity in BTC price. 
CAPO stated the following: 
<blockquote> 
 “A good response above the high range used as support. The next target should be 109-112.” 
</blockquote> 
<img decoding="async" class="size-full wp-image-266241 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/CAPO-DXY-Tahmini.jpeg" alt="" width="1280" height="733"> 
If CAPO’s prediction of $12,000 for BTC proves correct, we may see a movement towards at least $25,000. 
<div class="sorumluluk_reddi" style="text-align: justify">
 Disclaimer: The information in this article is not investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and make their own decisions based on their research.
</div> Continue Reading: <a href="https://en.coin-turk.com/latest-crypto-predictions-by-qcp-analysts-what-does-it-mean-for-bitcoin-and-altcoins/" data-wpel-link="internal">https://en.coin-turk.com/latest-crypto-predictions-by-qcp-analysts-what-does-it-mean-for-bitcoin-and-altcoins/</a>

Latest Crypto Predictions by QCP Analysts: What Does it Mean for Bitcoin and Altcoins?

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