bullish

Bitcoin

Strong

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/qcp-capital-warns-bitcoin-investors-about-september-trends" data-wpel-link="internal" rel="noopener noreferrer nofollow">QCP Capital Warns Bitcoin Investors About September Trends</a><br></p>
<p style="text-align: justify">Singapore-based trade and consultancy firm QCP Capital has issued a cautionary note to cryptocurrency <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> regarding <a href="https://en.bitcoinhaber.net/unprecedented-bitcoin-blockchain-inscription-costs-anonymous-wallet-66000" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s historical performance in September. Their analysis reveals that Bitcoin’s price has dropped in six out of the last seven Septembers, averaging a 4.5% decline. Should this trend continue, Bitcoin’s value could potentially decrease to around $55,000 this year.</p>
<h2 id="strong-support-at-54-000">Strong Support at $54,000?</h2>
<p style="text-align: justify">QCP Capital analysts project the $54,000 level as a formidable support point for Bitcoin. This level served as a launchpad in July, propelling the price to $70,000. Consequently, analysts believe it is unlikely for Bitcoin to fall below this critical threshold, expecting it to act as a stabilizing factor.</p>
<h2 id="will-macroeconomic-data-affect-bitcoin">Will Macroeconomic Data Affect Bitcoin?</h2>
<p style="text-align: justify">Additionally, QCP Capital anticipates that upcoming macroeconomic indicators, such as US unemployment claims and non-farm payrolls, will not significantly impact the cryptocurrency market. Analysts noted a diminishing influence of macroeconomic <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a> on cryptocurrencies, shifting Bitcoin’s price movements more toward market dynamics and investor sentiment.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<ul>
 <li>Monitor Bitcoin’s $54,000 support level closely.</li>
 <li>Upcoming US economic data may have limited impact on Bitcoin.</li>
 <li>Investor sentiment and market dynamics are increasingly influential.</li>
 <li>Options market data suggests medium-term bullish expectations.</li>
</ul>
<p style="text-align: justify">Despite the current market stagnation, QCP Capital highlights a positive medium-term outlook in the options market. The volatility curve is anticipated to steepen, with numerous long positions extended until March 2024. Notably, the number of Bitcoin $120,000 call options expiring in March 2025 has surged by 200 contracts, totaling 2,100 contracts. This trend signals ongoing investor confidence in Bitcoin.</p>
<p style="text-align: justify">Analysts advise close monitoring of Bitcoin’s performance, particularly regarding the maintenance of key support levels. While medium-term options data indicate sustained bullish sentiment, short-term market downturns should not be ruled out.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/qcp-capital-warns-bitcoin-investors-about-september-trends" data-wpel-link="internal" rel="noopener noreferrer nofollow">QCP Capital Warns Bitcoin Investors About September Trends</a></h5>

QCP Capital Warns Bitcoin Investors About September Trends

Table of Contents

BH NEWS

Other articles published on Sep 2, 2024

Tixbase and Passo Seal Largest Blockchain Ticketing Deal

Artemis Coin Price Prediction: The Token Built on Ethereum Set for an Impressive Rise

Chang Hard Fork Launched to Push Cardano's New DeFi Governance

Metaplanet Teams Up With SBI VC Trade for Bitcoin Management

Weekly Article Recap: 8/26-8/30

XRP Community Alleges SEC Of Manipulating Crypto Market

Join our free newsletter for daily crypto updates!