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BitcoinSistemi 2024-12-31 14:40:06

Analytics Company Reveals What to Expect for Bitcoin Price in New Year’s Eve

Cryptocurrency analytics firm QCP Capital has released a market update providing insight into Bitcoin’s (BTC) performance and broader market dynamics following the end of the quarter. QCP noted that the market experienced a predictable decline in volatility following the record-breaking options expiration last Friday. “Volatility has since dropped by 2-3 points,” the analyst firm said. Despite BTC consolidating near the lower end of its one-month range and posting modest returns in December, the BTC price has been a strong overall performer in the fourth quarter. While December returns were lackluster, QCP suggested that recent activity, including Bitcoin purchases by Michael Saylor’s MicroStrategy, could point to further price support. According to the analytics firm, Saylor’s newly released BTC purchase tracker points to the potential for more buying. Related News: It Was Hacked This Year: Developers of Binance-Listed Altcoin Release Statement on the Latest Situation QCP has taken a cautious short-term view, predicting that prices will remain calm in the coming weeks. “While there could be another round of buying, we don’t expect much in the New Year,” the firm said. Historically, average January returns (+3.3%) have been relatively close to December (+4.8%), and QCP expects BTC prices to remain in the range until February, when market activity traditionally begins to pick up. *This is not investment advice. Continue Reading: Analytics Company Reveals What to Expect for Bitcoin Price in New Year’s Eve