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QCP Capital, a major trading company has recently stated that it's very excited about the momentum of Bitcoin's price movement. And QCP Capital has made a prediction that Bitcoin's price is headed to its all time high of about $74,000.
QCP Capital mentioned that currently, they've noticed lots of investors getting 100,000 Bitcoin calls, to 120,000 Bitcoin calls. This goes to indicate the optimism that people have in the surge of the crypto market.
Presently, the rise in the price of Bitcoin has happened simultaneously with the rise in the demand of Bitcoin by institutions. Popular institutions like Schonfeld, and Millenium, have invested about 3% of their funds into Bitcoin ETFs.
QCP Capital emphasized that there are many factors that have made Bitcoin's price to surge, such as demands from institutions, reducing concerns about inflation, rising sovereign, and the United States elections that is approaching.