Big Crypto Company Advises Buying Bitcoin and Ethereum – Here is Why
07.08.2024 13:00 1 min. read Kosta Gushterov
While the sharp decline in Bitcoin and global markets has made investors cautious, QCP Capital, a Singapore-based cryptocurrency trading company, predicts a new outlook.
QCP analysts warn that it is too early to declare a full market recovery, highlighting continued volatility until Federal Reserve (Fed) and Bank of Japan (BOJ) policies become clearer.
They noted:
Macro markets recovered sharply today, but it is definitely too early to say they have returned to normal. Until there is clarity on Fed and BOJ policy, asset prices are likely to remain volatile.
The QCP believes an immediate rate cut is unlikely as it would undermine confidence in the Fed and increase market panic, heightening fears of an imminent recession.
Despite this uncertainty, the firm’s analysts suggest that now could be a good time to accumulate Bitcoin (BTC) and Ethereum (ETH) while prices are low.
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