QCP Capital Predicts Positive Bitcoin Outlook for Q4

Key points:

• QCP Capital analysts remain optimistic about continued risk-on sentiment in equities and bitcoin following a robust September driven by economic stimulus in China and the Federal Reserve’s recent monetary policy shift.
• Historically, a positive September has resulted in bitcoin finishing higher in October, November, and December, according to Coinglass data.

QCP Capital predicts positive Bitcoin outlook for Q4, citing strong September performance, economic stimulus from China, and the Fed’s monetary policy shift as key drivers.

QCP Capital Predicts Positive Bitcoin Outlook for Q4

QCP Capital still feels great about Bitcoin’s performance for Q4 after a ‘pretty strong September.’ As such, the reasons for sustained risk-on sentiment will be fundamentally supported by global economic factors.

Analysts foresee further gains for Bitcoin after a 7% rise in September and favorable macroeconomic shifts, such as the stimulus measures by China. A breakout above $70,000 could fuel momentum, according to The Block.

Read more: QCP Capital Volatility Signal Predicts Crypto Market Surge Ahead

Bitcoin Expected to Benefit from Continued Global Easing

QCP Capital analysts are still optimistic that Bitcoin will perform well as monetary easing and risk-on sentiment spreads in equities. They see the cryptocurrency gaining during October, November, and December.

Analysts say Bitcoin won’t let go of its uptrend with economic stimulus from China and hedge funds being bullish on technology stocks, meaning good macro conditions for the number one cryptocurrency.