Bitcoin 
$62,036 price It is on the verge of $62,000 and investors are now waiting for the expected rise to begin. The last quarter seems to be the last hope for cryptocurrencies, which have been stuck in the range they have set for more than 200 days. So, what are the latest predictions of QCP market analysts regarding Bitcoin and altcoins? What awaits investors at this stage?
QCP Cryptocurrency Analysis
The rise in geopolitical tension prevented October from being a good start and we saw a performance opposite to the move at the end of September. Of course, altcoins easily lost their hard-earned gains due to the fear that had been building for months. QCP Analysts summarize the latest situation as follows.
“The last quarter caused volatility in risk assets due to the escalation of the Israel-Iran conflict. On the anniversary of the attacks on Gaza, Iran also fired missiles, fueling concerns about Israeli retaliation. If Israel’s retaliation targets key infrastructures such as Iran’s nuclear or oil facilities, it will shake global markets.
Nonfarm payrolls reported Friday came in at 254,000, beating expectations of 150,000. The US unemployment rate was 4.1% (expected 4.2%). The strong data reflects a strong labor market despite last month’s poor outlook.
A resilient labor market and the possibility of additional rate cuts later this year have increased risk assets and BTC briefly got back $62,000.”
Drawing attention to the activity in the options market, experts stated that the demand in December calls strengthened and that this reflected the year-end rise expectation of professional investors.
“With BTC down nearly 5% from last week’s highs, recent positive macro data has been long awaited.”uptoberWe believe it supports our view on the trend.
“With geopolitical risk being the biggest concern leading up to the US elections, we prefer to lock in yields at these spot levels to let the dust settle and position for a rally towards the end of the year.”
Volatility Increase in Cryptocurrencies
We will see many major developments in the coming days, from the Fed minutes to September inflation figures. Although investors are concerned about the extent of Israeli retaliation, macroeconomic data is likely to fuel a supportive environment for cryptocurrencies.
BTC In the possible rapid rise in price, assets such as SHIB, AVAX, SOL have the potential for rapid recovery as their rise was interrupted.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
