According to Odaily, an analyst from the cryptocurrency trading company QCP Capital has suggested that the US unemployment relief report released today and the Consumer Price Index (CPI) to be released next week could be catalysts for Bitcoin to reach new historical highs. In addition, the possibility of potential interest rate cuts could further boost Bitcoin's value. The analyst also anticipates that Ethereum (ETH) will continue to underperform in the short term. This prediction comes after comments made by Gary Gensler, the chairman of the US Securities and Exchange Commission, in an interview with CNBC. Gensler stated that the approval of a spot Ethereum ETF S-1 would 'take some time'. This information provides insight into the potential future performance of these major cryptocurrencies.
Bitcoin Could Reach New Highs Due To US Unemployment Relief Report And CPI, Says QCP Capital Analyst
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