QCP Capital analysts correctly predicted the bottom levels in the cryptocurrency market and expressed bullish expectations while prices were low. Today Bitcoin (BTC) rose to $66,128. This increase, which exceeded 10 thousand dollars from low levels, also led to the movement of altcoins.

While there were sudden losses in the BTC price, analysts predicted that the rise would begin. Previous comments by QCP Capital analysts turned out to be correct; Although they were not always right, their latest predictions came true. Now that BTC has surpassed $65,000, what should investors expect?

QCP Capital Crypto Predictions

QCP analysts, who follow macroeconomic developments closely, emphasized that the decline in cryptocurrencies would not last long. While the article was being prepared, new predictions for the markets were shared. Over the last two weeks, BTC's decline to $54,000 and altcoins' loss of 30% in value created panic among market participants. However, we maintained our medium-term bullish view.

I should point out that we are not wearing rose-colored glasses when we say that the macroeconomic outlook has turned positive. Federal Reserve Chairman Powell emphasized the progress made in reducing inflation. Markets started pricing the possibility of an interest rate cut in September as 100%!

The selling pressure from the German police is over and BTC is on the rise to Mt. With the distribution from Gox, markets found strong demand for BTC to rise above 65 thousand.

The spot ETF for ETH appears to have been finalized by the SEC's latest revisions to its S-1 filings. Analysts estimate that trading will begin on July 23.

Trump's J.D. Choosing Vance as Vice President was another positive catalyst. Vance keeps BTC in his wallet and we expect Trump to lobby for crypto-friendly regulations if elected.

Bitcoin (BTC) Forecast

BTC continues its rise with closes above $60,200. More closes are needed near the $62,500 and $64,000 levels. If BTC can surpass these levels, we can give it a shot at $70,000. This may accelerate the recovery of altcoins that have been losing value for months. Some popular altcoins have started posting double-digit gains, returning to their pre-crash levels. In particular, XRP and SOL clearly reflect the cash inflow into altcoins. For now, daily closes will be watched carefully by investors.

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