​QCP Capital predicts the growth of the BTC rate above $31 000

What’s new? QCP Capital, a full-site crypto asset trading firm, has published a prediction on the further development of the crypto market in the coming years. According to analysts, we are now witnessing the so-called fourth wave, and the bitcoin exchange rate may rise above the $31 000 mark before reaching new lows. In its analysis, the company used the Elliott Wave theory, which involves the study of processes through visual patterns (waves) on asset price charts.

Article on the QCP Capital website

QCP Capital was founded in 2017 and offers clients a full range of services for trading crypto assets. Among the main services are the supply of liquidity and infrastructure and the maximization of trading opportunities. The company strictly adheres to global AML and KYC policies when operating in various markets.

Prediction details. According to analysts, bitcoin’s rebound from the November 2022 lows is only a correction in the fourth wave. During the next wave, the asset may face a final sell-off. If one uses the Elliott Wave theory, the fourth wave “most often” leads to a price increase of more than 20% of the third wave and “very often” — by 38,2%.

At the 20% level, the price of bitcoin will be $22 000 and Ethereum will be $1420. When reaching the level of 38,2–50%, bitcoin will cost between $27 100 and $31 850, and Ethereum will cost between $1911 and $2280. QCP analysts note that technically, until these levels are broken through, the fourth wave is not over, but it is impossible to exclude the fifth final wave in the markets, which will lead to new lows. That said, the beginning of the fifth wave for the markets will take place in the following order:

1. USD
2. Alt-Coins
3. US Equities
4. BTC/ETH
5. Gold
6. NFTs
7. Global bond yields

Earlier, artificial intelligence predicted the growth of the bitcoin exchange rate by 2030. According to ChatGPT, this will be facilitated by the development of the market and the wider adoption of cryptocurrencies by users.

According to SkyBridge Capital founder Anthony Scaramucci, bitcoin will be accepted as an asset class by most investors in the coming years and its rate will reach the $100 000 mark. In late December 2022, former Goldman Sachs CEO Raoul Pal called 2023-2024 favorable years for bitcoin. According to him, the current conditions are partially similar to those in 2018 before the crypto market bottomed.

As of January 19, 12:10 UTC, the value of bitcoin is $20 746, having decreased by 2,22% in the last 24 hours. The weekly growth was 22,92%, according to Binance.