Bitcoin decline comment from QCP: The bottom may have been seen
While the sharp declines in Bitcoin continue, the price dropped below 57 thousand dollars today. Singaporean crypto investment management firm QCP Capital compared the declines with 2022 and stated that the bottom may have now arrived.
QCP Capital, known for its reputation in Asian markets, compared the Bitcoin decline to the crypto crisis period in 2022. In the daily analysis published by the company today, it was stated that excessive sales pressure was seen and the level of 57 thousand dollars was reached for this reason.
“It looks like the 17 thousand dollar period in 2022”
In the analysis, it was stated that Bitcoin miners have now sold a large portion of their BTC, and historically, this situation indicates that the bottom levels have been seen: Bitcoin miners now seem to have reached the end of the sales. Historically, this indicates that a bottom has been reached. "To make a comparison, the year 2022 (June), when Bitcoin dropped to 17 thousand dollars and the hash rate dropped significantly, can be given as an example."
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