Analysis Company Announces Bitcoin Forecast, Gives Good News of Rally for Altcoins!
QCP Capital analysts said that BTC reaching $100,000 is not a dream and that the altcoin season is near.
The Bitcoin rally has been stalled in recent days, and there has been high volatility in the price. However, while expectations of $100,000 in BTC continue strongly, QCP Capital analysts said that it is not a dream for BTC to reach $100,000.
Analysts said they believe Bitcoin will reach $100,000 due to increasing institutional demand along with a positive political and economic environment.
“Despite net outflows in ETFs last Thursday and Friday, BTC is still relatively well supported and institutional adoption remains strong. This is also supported by other macroeconomic factors.
That's why Bitcoin reaching $100,000 is no longer a dream.”
Major Altcoin Season Could Begin Soon!
Analysts have claimed in their latest report that Donald Trump’s return to the presidency and the expected interest rate cuts by the Fed could set the stage for a major altcoin season in the coming months.
Analysts, who expect Bitcoin's rise to $100,000 as a sign of a general “altcoin season” to cause capital to flow into altcoins, stated that Solana recently rose by 17%, leaving both Bitcoin and Ethereum behind.
“Bitcoin’s dominance currently sits at around 60%. It will likely need to be below 58% for alt season to begin.
We expect pro-crypto policies and further interest rate cuts from the Trump administration.
We wouldn't be surprised to see alt season in full swing in the coming months.”
Analysts added that historically, altcoins tend to perform well when major cryptocurrencies stabilize after a rally as investors shift profits to smaller-cap coins.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
VanEck: Reiterates Bitcoin's $180,000 target price remains unchanged
Bitwise CEO: 2024 is the year of Bitcoin securitization
DOGE breaks through $0.47, with a 24-hour increase of 18.6%
A whale exchanged 90.8 WBTC for 2709 ETH 10 hours ago after Bitcoin broke a new high