QCP Capital Predicts Ethereum Surge to $3000

During the week of October 14-20, Ethereum rose by 11%, outpacing Bitcoin’s 9.6% increase, though it lags behind in the Uptober context with 4% compared to 8%. QCP Capital noted a strong likelihood of Ethereum breaking through the $2800 resistance and reaching $3000.

4/ Read the full analysis here: https://t.co/gNhw4giQWX

— QCP (@QCPgroup) October 22, 2024

For Bitcoin, this scenario envisions a breakthrough of $70,000, which would attract additional interest from retail investors.

Experts highlighted a high probability of this scenario due to the upcoming US elections, now just 15 days away. The stock market appears confident, with a bias towards call options.

Experts forecast consolidation near current levels with attempts to extend the rally in the absence of significant catalysts. They pointed to the upcoming October 24 release of the US manufacturing sector’s business activity index, where “the market will seek confirmation of the Fed’s commitment to lowering rates.”

Earlier, BlackRock CEO Larry Fink opined that Bitcoin would continue to rise regardless of who occupies the White House.