While the sharp decline in Bitcoin and global markets makes investors nervous about entering the market, a new evaluation came from Singapore-based cryptocurrency trading firm QCP Capital.
Stating that it is too early to say that the market has fully recovered and returned to normal, QCP analysts stated that the markets will continue to remain volatile until clarity is provided on the FED and Bank of Japan (BoJ) policy.
“ Macro markets rebounded sharply today, but it is definitely too early to say they are back to normal.
Until there is clarity on FED and BOJ policy, asset prices are likely to remain volatile and markets will remain volatile; Important updates are expected from BOJ Vice Governor Uchida on Wednesday and at the Fed's Jackson Hole conference on August 22-24.
“We think an immediate rate cut is unlikely as it would seriously undermine the Fed's credibility and increase market panic, fueling belief in an impending recession.”
It's Time to Accumulate Bitcoin and Ethereum!
Predicting that volatility will continue until the uncertainty in the market is resolved, QCP analysts recommend investors to accumulate spot Bitcoin (BTC) and Ethereum (ETH) during this period.
“It may be time to start thinking about accumulating BTC and ETH spot as prices have fallen off a cliff.”
*This is not investment advice.