If MtGox's creditors decide to quickly sell off their assets, the market will face an increase in the supply of Bitcoin. This will cause a sharp drop in price due to the influx of a large number of sell orders, QCP Capital believes.
However, the current situation in the crypto market may benefit ether, especially in anticipation of the start of trading in shares of spot exchange-traded funds (ETFs) on ETH.
“As the market consolidates, eagerly awaiting the launch of spot ETH ETFs, accumulators remain attractive, allowing traders to continually accumulate ETH at a discount,” explained QCP Capital experts.
Investors' attention has shifted to more volatile assets, in particular to memcoins like Shiba Inu, Dogecoin and Pepe, which are showing growth in the range of 10-20%.
Earlier, QCP Capital noted that limiting the supply of Bitcoin will lead to stabilization of the cost of the first cryptocurrency in the short and medium term.
Source: Bits
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