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QCP Capital analysts predicted Bitcoin growth in March

Financial experts at QCP Capital have shared a report that predicts a new high for Bitcoin next month. The trading company wrote that there is a high probability that BTC will be worth around $112,000 by the end of March.

The rise in the cryptocurrency rate is associated with the influx of funds into exchange-traded funds and the accumulation of options to buy BTC with strike prices from 60 to 80 thousand dollars. According to statistics, up to 13,000 BTC are purchased every day for Bitcoin ETFs. As many have already noticed, Bitcoin now costs more than 50 thousand dollars. As of February 15, 2024, 1 Bitcoin is trading at $51,861.

Experts believe that the increase in exchange rate is directly related to purchases of Bitcoin by Bitcoin ETFs. They think the trend will continue, and thus the first cryptocurrency will further strengthen its position in the financial world at the global level. The accumulation of options to buy Bitcoin indicates the so-called bullish sentiment among market participants. Before the Bitcoin halving, they will monitor the market even more closely.