QCP Capital: FED’s Approach Opens the Doors to Summit at Bitcoin!

Crypto trading firm QCP Capital commented on the rises in the crypto market after the FED’s statements. The U.S. Federal Reserve (FED) keeping interest rates steady on March 20th while positive comments by FED President Powell benefited the cryptocurrency market as well. Interpreting the recent rises, QCP Capital gave positive signals that the rise could continue. Analysts noted that the rises following the dovish approach of the FED are primarily due to entries in the spot market, and the lack of a significant increase in future fund rates is interpreted as a positive signal. It was emphasized that this rise could be the first step to taking Bitcoin to a new all-time high and that the declines could be considered as a buying opportunity: Powell did not express concern over the high inflation figures in January and February and even highlighted the weakness in the labor market during the press […]

QCP Capital: FED’s Approach Opens the Doors to Summit at Bitcoin!

Crypto trading firm QCP Capital commented on the rises in the crypto market after the FED’s statements.

The U.S. Federal Reserve (FED) keeping interest rates steady on March 20th while positive comments by FED President Powell benefited the cryptocurrency market as well.
Interpreting the recent rises, QCP Capital gave positive signals that the rise could continue.

Analysts noted that the rises following the dovish approach of the FED are primarily due to entries in the spot market, and the lack of a significant increase in future fund rates is interpreted as a positive signal.

It was emphasized that this rise could be the first step to taking Bitcoin to a new all-time high and that the declines could be considered as a buying opportunity:

Powell did not express concern over the high inflation figures in January and February and even highlighted the weakness in the labor market during the press conference. Demand seems largely spot-focused, and there is little change in funding rates. Will there be a rise to new all-time highs from here? Maybe the time has come to buy corrections to accumulate Bitcoin or Ethereum at a discount as we enter the next quarter.

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