QCP Capital: Bitcoin is expected to benefit from the stock market correction

Odaily reported that QCP Capital posted on its official channel that Bitcoin and the stock market performed better than expected at the end of the third quarter. Bitcoin rose more than 7% in September, marking one of the strongest September performances in history; the S&P 500 index rose 5.1% in the third quarter, the best performance for the period since 1997. Global risk appetite sentiment is strong, and after China launched a large-scale real estate support plan, the CSI 300 index rose 9% in a single day. QCP expects that against the backdrop of global monetary easing, Bitcoin may benefit from a potential stock market correction. QCP maintains a medium-term bullish outlook on Bitcoin, believing that a breakthrough of $70,000 could trigger further upward momentum.