QCP Capital: Bitcoin may have strong support at $54,000

QCP Capital's latest report pointed out that by analyzing Bitcoin's historical performance in September, it was found that there had been declines in 6 of the past 7 years, with an average decline of 4.5%. If this pattern is repeated this year, the price of Bitcoin may fall to about $55,000. Analysts expect $54,000 to be a strong support level, a level that successfully supported prices in July and helped push Bitcoin to $70,000. The report also mentioned that this week's unemployment benefit application data and non-farm payrolls report may not have a significant impact on cryptocurrency prices. In addition, QCP expects the volatility curve to steepen further, while long-term call options for BTC and ETH are extended to March next year.