QCP Capital: The crypto market needs a catalyst more significant than the "Trump speech event" to achieve a major breakthrough

PANews reported on July 29 that Singaporean cryptocurrency investment firm QCP Capital stated that despite fluctuations in Bitcoin prices during Trump's Bitcoin conference speech, the market did not experience the severe volatility expected by options traders. Bitcoin still remains between $67,000 and $70,000, with a significant decrease in volatility. Trump's speech responded to industry expectations, but the market may need a more important catalyst for a major breakthrough. This catalyst might emerge as the U.S. election approaches when promises and policies will become clearer. Although Trump made optimistic remarks, Bitcoin failed to break its historical high point; therefore it is likely to continue trading within a range.