Saying "Buying opportunity for Bitcoin", the company drew attention to the Fed
QCP Capital suggested that the recent declines in Bitcoin are a buying opportunity. The company drew attention to the possible Fed interest rate cut.
Friday's US nonfarm payrolls data dragged the cryptocurrency market, especially Bitcoin, down significantly. While Bitcoin dropped to 68 thousand dollars, deeper declines were prevalent in altcoins. Could the current declines in the market be a buying opportunity? According to Singapore-based trading firm QCP Capital, yes.
In its latest assessment, QCP Capital said, “We agree that this period is a good opportunity to buy the dip, as markets will increasingly price in at least one Fed interest rate cut from here on out. "It will be difficult for the United States to ignore this as the rest of the world continues to lower interest rates." He included his statements.
The company pointed out that there were upward transactions during the decline. In the report, “Our team determined that during this decline, there were bullish transactions, especially in Bitcoin, by both aggressive 'put' sellers and 'call spread' buyers.” It was said.
-Uzmancoin