QCP Capital stressed that bitcoin will not show growth in the third quarter, which is partly caused by uncertainty due to the possible sale of bitcoins received by affected customers of the bankrupt MtGox crypto exchange.
Analysts noted that the US stock market reached its maximum after the publication of statistics from the US Federal Reserve System (FRS), according to which the American economy is moving towards reducing inflation.
However, this macroeconomic factor did not have a positive impact on the bitcoin exchange rate, QCP Capital experts stressed. According to forecasts, the restart of the bitcoin rally may lead to an increase in the value of the asset to $ 120,000. At the moment, many market participants have placed bets on the growth of quotations of the first cryptocurrency.
"The market retains significant interest in long—term options with a strike of $100,000- $120,000," the analysts added.
Earlier, QCP Capital suggested that the options market is set to break through the $4,000 level and reach $4,800, despite the uncertainty of the timing of approval of spot exchange-traded funds (ETFs) on ETH.