Bitcoin,$BTC
It showed one of the most impressive September performances in its history, gaining over 7% in September. QCP Capital predicts that a stronger upward wave will begin if BTC breaks the $70,000 level.
The increase in risk appetite in global markets also contributes to the increase in interest in risky assets such as Bitcoin. QCP Capital, one of Asia's major crypto investment firms, stated that Bitcoin performed above expectations at $63,802 in the third quarter and that the increase in September was remarkable.
This year, September, which was generally weak, was an exception for Bitcoin and pleased investors by gaining over 7%. QCP Capital emphasized that BTC had one of the strongest Septembers in its history with this rise. This created a positive atmosphere in the markets during this period, when traditionally bearish expectations prevailed. The movement in stocks and the largest cryptocurrency at the end of the third quarter also positively affected the general market sentiment.
Exceeding $70,000 Could Trigger a New Rise
QCP Capital has made some striking comments about Bitcoin’s future movements. The firm states that BTC is likely to continue to fluctuate at its current levels. Historical data shows that profit-taking occurs frequently at these levels. However, QCP remains optimistic about Bitcoin’s medium-term outlook.
According to the company’s assessment, if the Bitcoin price exceeds $70,000, it is expected to gain new upward momentum. If this scenario happens, investors may enter a stronger uptrend. In addition, the high risk appetite in global markets, especially with the increasing interest in technology stocks, is also positively reflected in risky assets such as Bitcoin.
