QCP Report: Positive Data in Bitcoin is Already Priced in, All Eyes Are Now on the Historical Decision!
Cryptocurrency analysis firm QCP Capital published a market report for August 1.
QCP Capital shared a cryptocurrency market report on Telegram on August 1. The report included the impact of US-based factors on the cryptocurrency market.
Stating that the FED's keeping the interest rate constant and the subsequent Powell statements showed a very dovish attitude, QCP said that the interest rate cut that will come in September is fully priced.
However, it was emphasized that Mt.Gox and the USA's Bitcoin transfers strained the market and this data should be followed closely.
Analysts stated that, in the long term, if the USA sees Bitcoin as a reserve asset, the whole story may change completely and continued their statement as follows:
The main takeaway from yesterday's FOMC is that the Fed is clearly dovish: The September rate cut is fully priced in. The market remains on edge as investors pay close attention to daily ETH ETF outflows and additional supply pressures from Mt Gox and the US government. In the long term, discussions among US Presidential candidates and Senators regarding a sovereign Bitcoin reserve, and the potential for other nations to follow suit, could fundamentally change the cryptocurrency landscape.
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