In the coming months, Bitcoin is predicted to reach $74,000 by analysts at the QCP Capital fund.
The surge in institutional adoption of cryptocurrency, coupled with a favorable global economic landscape, has created ideal conditions for capital to flow into high-risk assets.
Last week, BTC broke through the $65,000 mark, a significant milestone for many. The positive report on consumer inflation in the US has sparked a redistribution of capital towards stock markets, with cryptocurrency prices also increasing along with those of technology companies.
In their report, QCP Capital affirmed their belief that the momentum will continue and result in a rise to a peak of $74,000.
The upcoming US presidential election has also boosted investor sentiment, leading to a steady influx of capital into crypto ETFs, as highlighted by QCP Capital analysts.
However, there are experts who hold a contrasting view and doubt that BTC will follow a bullish trend in the coming months. For instance, Mike Novogratz, CEO of Galaxy Digital, predicts a range-bound market for BTC during the summer and doubts that the cryptocurrency will surpass the $70,000 mark.
