Futures markets are playing big in Bitcoin: 'There is a concentration of 100 thousand for the end of the year'
Bitcoin price as MtGox and the German government tried to overcome the challenges of sales, while futures markets focused on the end of the month and US elections. According to the reviews of the analysts of the QCP company, there is a serious concentration in Bitcoin positions in prices of 67 thousand dollars for the month closing on July 26 and 100 thousand dollars for the end of the year.
Singapore-based crypto investment management firm QCP Capital analysts have stated that investors in futures markets are buying significant “long” positions for the coming periods.
In today's analysis of the company, it was stated that the price of 67 thousand dollars was concentrated for the end of July transactions on Friday, July 26.
'Faith strengthens for the end-of-year rally'
Analysts also noted that futures market investors 'play big' as U.S. elections approach, noting institutional investments:
“We see that corporate companies have a serious interest in the purchase price of 100 thousand dollars for the end of December of 2024 in the Bitcoin futures market. This shows that there is a strong belief in the end of the year rally. Especially as Trump's chances of winning increase, we see that the belief here is strengthened.
As it is known, Trump's complete change of his thoughts on Bitcoin and cryptocurrencies and coming together with industry leaders and making promises to them have been the most striking developments of the last period.
While Trump's rate of winning the election in forecast markets is at 70%, it is also stated that Biden is likely to withdraw from the race soon.
There are two candidates who can replace Biden. One of them is vice president Kamala Harris, the other is Michelle Obama, the wife of former president Barrack Obama...
