QCP Capital releases 2023 crypto forecast: Bitcoin and risk asset upside potential may be limited

BlockBeats news: On December 29, QCP Capital, a crypto asset trading company, released a forecast for the crypto industry in 2023. The venture capital firm believes that the Federal Reserve may continue to pressure the market to reduce the inflation rate from the high of 9% to about 2%, so it will not relax the interest rate hike and balance sheet reduction. As a result, the upside potential of bitcoin and risk assets may be limited. In addition, QCP Capital believes global markets, including bitcoin and other cryptocurrencies, could see a sharp rebound if the Fed eases monetary policy. BlockBeats previously reported that QCP Capital was affected by the FTX bankruptcy crisis in 2022, with at least $97 million of its funds stuck in FTX.