Bitcoin and Altcoin Investors Expect a Year-End Rally: Trump Impact Is Major

Cryptocurrency research firm QCP Capital presented a report on the latest situation in the cryptocurrency market.

In its report dated July 19, QCP Capital talked about the current state of the cryptocurrency market.

According to analysts This week, the ongoing Mt. Gox selling pressure and falling stocks on exchanges such as the NASDQ and SP500, the cryptocurrency market has demonstrated a resilient performance.

The market also saw continued futures (perp) funding return to normal while volatility decreased. Bitcoin has returned to the $61,000 to $71,000 range where it traded during the second quarter of this year.

Cryptocurrency investors expect a year-end rally

The spot market was considered normal for the price to fluctuate in this range in the short term, especially while investors held long positions at 67 thousand dollars on July 26.

Analysts emphasized that the increasing belief that Donald Trump will win the election strengthens the possibility of an end-of-year rally for the cryptocurrency market.

According to the report, the interest of institutional investors in such long-term positions may indicate the expectation of a greater upward movement in the market.