QCP Capital: BTC’s real bottom will appear in mid-to-late October

Odaily Planet Daily News Charlie Morris, chief investment officer of ByteTree Asset Management, said in a market report on Wednesday that Bitcoin prices are currently trading near the support level of $26,000, but this may not be a solid bottom. Charlie Morris predicts that Bitcoin will trade between $20,000 and $30,000 until the halving occurs around April next year. “We’ll just have to wait for a better time.” Cryptocurrency trading firm QCP Capital said it expects Bitcoin’s final decline to come and the quarter to end at a low. A series of negative news in the coming weeks, such as a more hawkish Fed meeting next week, FTX asset sales and Mt Gox fund repayment, may push Bitcoin prices down to around $23,000. QCP added: “The real bottom will come in mid-to-late October, when the bad news cycle has ended. Nonetheless, we are still bullish on the market at the end of this year and the first quarter of next year.” (CoinDesk)