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Analysts, who say the rise in Bitcoin is temporary, shared the reason and expectations for the rise!

source-logo  en.bitcoinsistemi.com 19 September 2023 17:04, UTC

While the mobility in Bitcoin and altcoins continues, BTC continues to rise before the FED decision.

While investors were wondering about the source of the rise in BTC and whether it will continue, a new BTC report came from cryptocurrency analysis company QCP Capital.

At this point, QCP Capital analysts, who shared their views on Telegram, stated that the source of the rise in Bitcoin was due to rumors that Mt.Gox refunds will be postponed to 2024.

Analysts pointed out that the rise in Bitcoin would be short-lived and said that QCP Capital continued its downward trend on BTC.

Because QCP analysts, who discussed the Bitcoin price last week, said that they expected another decline in the near future.

Stating that their target of $ 22,000 is still valid at this point, analysts believe that Bitcoin may drop to $ 22,000 by the end of October.

“A big reason for the recent jump in Bitcoin is the rumors that Mt. Gox payments will be postponed to 2024.

With only a month left until the scheduled payment date, we believe most people are falling short. And any official announcement will be short-lived, like the surge following the decision in the Grayscale-SEC case announced last August.

However, we expect the increases to decrease rapidly as global risks continue to put pressure on crypto markets in the fourth quarter.”

*This is not investment advice.