{"id":182102,"date":"2023-10-02T21:26:37","date_gmt":"2023-10-02T21:26:37","guid":{"rendered":"https:\/\/precoinnews.com\/?p=182102"},"modified":"2023-10-02T21:26:37","modified_gmt":"2023-10-02T21:26:37","slug":"qcp-capitals-analysis-on-crypto-markets-q4-rally-and-risks","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/qcp-capitals-analysis-on-crypto-markets-q4-rally-and-risks\/","title":{"rendered":"QCP Capital's Analysis on Crypto Market's Q4 Rally and Risks"},"content":{"rendered":"
As the final quarter of 2023 kicks off, the cryptocurrency market has shown remarkable growth, particularly Bitcoin (BTC), which surged 15% in the last two weeks and 9% in the past three days alone. This uptick follows a disappointing third quarter, where BTC dipped by 12%, ending the Supermoon cycle last week at a low of 26,500, down from a high of 31,500 at the cycle\u2019s start on 4 July.<\/p>\n
While many are optimistic that this could be the beginning of a much-anticipated Q4 rally\u2014especially given that October has historically been a strong month for BTC\u2014QCP Capital, a full-suite crypto asset trading firm, remains skeptical. <\/p>\n
In an article published earlier today, the firm outlines four primary reasons for their caution:<\/p>\n
In light of these factors, QCP Capital is using the current rally as an opportunity to purchase downside hedges. They anticipate that the BTC price will face resistance at the 29-30k level and suggest that the current low volatility offers a cost-effective option for preparing for any sharp downward reversals.<\/p>\n
Featured Image via\u00a0Midjourney<\/em><\/p>\n