Originally published on: June 02, 2023
As Bitcoin’s price has been stuck in a consolidation phase since March, experts predict that this sideways action may soon come to an end, with a potentially big move on the horizon in July.
QCP Capital, a trading firm, is among those forecasting a breakout for Bitcoin and Ether, the largest altcoin. They point to the United States debt ceiling issue being resolved as a catalyst for this anticipated shift in the market.
Drawing parallels to the liquidity injection by the Federal Reserve during the COVID-19 pandemic that boosted Bitcoin to new all-time highs, QCP Capital believes that a similar scenario may play out soon. They recommend taking long positions in anticipation of a significant price movement.
With data showing increased volatility for Bitcoin and Ether in June over the past few years, market participants are closely watching for signs of a new trend emerging in the cryptocurrency market.
While signals point to a potential bullish surprise for Bitcoin, readers are advised to conduct their own research and exercise caution in investment decisions.
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