QCP Capital explained the growth of cryptocurrency by the influx of funds into spot bitcoinETFwhich amounted to about $1 billion last week. The increase in Bitcoin prices also affected the shares of crypto mining companies, analysts noted.
Shares of Core Scientific (CROZ) rose 6.2%, and securities of firms engaged in the mining of virtual coins and developments in the field of artificial intelligence, such as IREN, Hut 8, Bitdeer and TeraWulf, also showed rapid growth, experts at QCP Capital reported .
“Open interest in Bitcoin perpetual contracts is at a one-year high. This indicates investors expect further growth, and breaking the $70,000 level is just the beginning for the market,” analysts said.
In their opinion, the growing chances of Republican candidate Donald Trump winning the US presidential election (Donald Trump) are further heating up the stock and cryptocurrency markets.
The first cryptocurrency may gain an advantage in the medium term due to the fiscal policy of the Republicans if the White House is headed by Trump, experts from . QCP Capital. A slight correction in the Bitcoin rate is possible immediately after November 5, but a fall in quotations below $65,000 is unlikely, experts say.
Earlier, analysts at the investment company 21st Capital said that in 2025 the first cryptocurrency “will pass through three price zones at once: cold, warm and hot.”
Source: Bits
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