QCP Capital: ETH may continue to rise close to $4,000 due to Trump's support for cryptocurrencies
cryptocurrency market maker QCP Capital has analyzed that the price of ETH has continued to rise, with a 35% increase in the past two weeks, currently approaching $4,000, just before the launch of the Ethereum ETF. QCP Capital stated that this price trend may be due to former president and current leading Republican candidate for 2024, Donald Trump's comments supporting cryptocurrency over the weekend. According to QCP Capital's regular market updates, "From the price trend, market participants seem to be bullish on ETH rather than BTC, especially once the ETH spot ETF starts trading, there will be potential institutional demand."
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