Bittime – A leading crypto asset trading firm,QCP Capitalrecently issued a document stating that the post-halving Bitcoin (BTC) price correction may be over.
According to a report from Shenzhen TechFlow, BTC failed to break the $67,000 (Rp. 1,072,000,000) resistance level for the third time last night, but QCP Capital believes that the price will break through this range soon. There are several reasons that support this belief.
Increases Led by Spot Demand Had No Impact
One of the main reasons is that the current BTC price increase is driven by spot demand that has no effect. This means that Bitcoin (BTC) purchases are made without leverage, indicating the fundamental strength behind the price increase.
In addition, funding rates remain stable, indicating that the market is in a healthy condition and is not too dominated by speculation.
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QCP Capital Highlights Institutional Adoption
QCP Capital also highlighted the rise of institutional and sovereign adoption as positive driving factors for BTC. More and more large institutions and even countries are starting to recognize and use BTC as an investment asset or even as a means of payment.
This provides further legitimacy to BTC and strengthens its position as a world-class asset.
Bitcoin (BTC) Post-Halving Correction May Be Over
QCP Capital believes that the correction that occurred after the previous halving may have reached its end. Halving is a key event in the BTC cycle, where the block reward given to miners is halved, reducing BTC's inflation rate and often triggering long-term price increases.
If the correction is indeed over, this could mean that BTC is preparing to enter a new bullish phase.
Strong Demand for BTC in the Future?
Another indication of strong bullish sentiment was the significant demand for BTC call options in December. A call option is a contract that gives the buyer the right to purchase an asset at a certain price in the future.
The high demand for these call options indicates that many investors expect BTC prices to rise later this year. QCP Capital sees this as a sign that the market has positive expectations for BTC in the long term.
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Trading Strategy from QCP Capital
In the same document, QCP Capital also provides trading advice for investors. They note that whenever BTC falls below $60,000 (Rp. 960,000,000), there is often a V-shaped rebound indicating a clear buying opportunity.
In the context of BTC's likely high volatility, the strategy of buying below $60,000 seems to be an ideal time to invest. Additionally, the use of an “accumulator” that allows BTC purchases below $60,000 is also recommended, considering the higher volatility behind it.
Conclusion
Overall, QCP Capital's outlook on BTC is very optimistic. They believe that various fundamental and technical factors support a potential increase in BTC prices in the near future.
With strong spot demand, increasing institutional adoption, and bullish sentiment reflected in December call option demand, BTC appears to be in a favorable position to cross the current resistance level and reach new highs.
Investors are advised to pay attention to the important price level at $60,000 (Rp. 960,000,000) as a potential entry point, considering the frequent rebound pattern.
Additionally, utilizing appropriate trading strategies such as accumulators can provide additional advantages in dealing with market volatility. However, how do crypto players think about QCP Capital's view of BTC?
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How to Buy Bitcoin (BTC) on Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR . To be able to buy BTC/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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