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QCP shares short-term Bitcoin forecast: 'There's still doubt'

Singapore-based trading and consulting firm QCP Capital stated in its latest report that Bitcoin will continue to squeeze in a certain interval in the short term. Company analysts said, “The market is still acting in a skepticism. There is also a decrease in volumes, but we see that there is an increase in long-term options," they said.

Although Fed chairman Jerome Powell's speech on interest rate cuts in his Jackson Hole speech brought a rise in Bitcoin and U.S. stocks, then came a limited decline.

Singapore-based trading company QCP Capital, on the other hand, stated in its latest report that Bitcoin may be stuck between 62 and 67 thousand dollars in the short term.

'There is still uncertainty and doubt'

Company analysts stated that although Powell's speech reflected positively on the prices, there was still a market uncertainty in derivatives trading:

“While the upward movement in the Bitcoin price is significant, the expectations of forward-looking volatility still show that the market is in doubt.

Considering the decrease in volumes, we predict that Bitcoin will go between 62 and 67 thousand dollars in the short term. #laraxen #Laraxenteam #LaraxenFamily