Analysis Company Reveals What to Expect in Bitcoin Price at New Year!

Crypto analysis firm QCP Capital has released a market update providing information on wider market dynamics following the performance of Bitcoin (BTC) and the end of the quarter.

QCP noted that after the expiration of the record-breaking options last Friday, the market experienced a predictable decrease in volatility. The analysis company said, ‘Since then, volatility has decreased by 2-3 points.’ Despite consolidating near the lower end of its one-month range and delivering modest returns in December, BTC has shown strong overall performance in the fourth quarter.

Although the returns in December may be lifeless, QCP suggested that recent activities, including Michael Saylor’s Bitcoin purchases for MicroStrategy, could indicate more price support. According to the analysis firm, Saylor’s newly released BTC purchase tracking system points to more buying potential.

QCP predicts that prices will remain calm in the coming weeks, displaying a cautious outlook in the short term. The company stated, ‘Even if there is another buying spree, we do not expect much during the New Year.’ Historically, the average returns in January (+3.3%) have been relatively close to December (+4.8%), and QCP predicts that BTC prices will stay in December until February, when market activities traditionally begin to recover.