Analysis Firm Reveals Key Factor Predicting Bitcoin (BTC), Ethereum (ETH) and Other Cryptocurrencies’ Market Recovery
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- Analysts from analysis company QCP Capital have identified a factor they claim will facilitate recovery in the Bitcoin and general cryptocurrency market.
- The analysts highlighted the potential impact of two US economic policy decisions on market sentiment for risk assets, especially cryptocurrencies like Bitcoin and Ethereum.
- In a report released today, the analysts pointed to FED Chairman Powell’s speech following the interest rate decision as a key factor.
QCP Capital analysts predict a market recovery for Bitcoin and other cryptocurrencies, citing two US economic policy decisions as key influencing factors.
Impact of FED Chairman Powell’s Speech
In his speech, Powell announced a reduction in Quantitative Tightening (QT) from $60 billion per month to $25 billion. According to the analysts, this move is expected to stimulate a sense of risk in the market that could benefit cryptocurrencies.
Significance of the Quarterly Repayment Announcement (QRA)
The analysts also drew attention to the Quarterly Repayment Announcement (QRA). The Treasury stated in the QRA that it will not change issuances for longer terms. According to the analysts, this decision... Read the full article for FREE at COINOTAG!
