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Critical Metric Allegedly Triggered in Bitcoin (BTC) and Ethereum: Here’s What To Expect

Critical Metric Allegedly Triggered in Bitcoin (BTC) and Ethereum: Here’s What To Expect

BitcoinsistemiBitcoinsistemi2024/09/04 18:36
By:Mete Demiralp

According to a statement made by QCP Capital analysts, a critical indicator may have been triggered in Bitcoin and Ethereum.

Analysts at QCP Capital are predicting a significant increase in near-term volatility across major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).

This prediction comes after QCP’s Volatility Momentum Indicator (VMI) came into play earlier today, suggesting that the market is poised for larger price moves in the coming days.

“The VMI was triggered for both Bitcoin and Ethereum, suggesting that the market is entering a period of high volatility,” analysts wrote. The direction-independent signal does not predict the direction of price movements, but suggests that significant fluctuations are likely in the near future.

Related News BREAKING: After SEC, CFTC Issues an Order Against an Altcoin

In light of these developments, QCP Capital advised investors to consider adjusting their strategies. “Given the direction-agnostic nature of the signal, cheap directional structures could be considered to maximize returns in the event of significant spot price movements,” QCP Capital said.

The cryptocurrency market is famous for offering negative returns in September, and this year the beginning of September has not yet offered cryptocurrency followers the glimmer of hope they were waiting for. At the time of writing, the BTC price is trading around $58,000.

*This is not investment advice.

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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.

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