Kraken, one of the leading crypto asset platforms, has announced its price predictions for Bitcoin.
US-based Kraken made a price prediction about Bitcoin in the report titled “October 2021 Market Summary and Outlook”. According to the platform, if Bitcoin repeats its previous moves, it could reach $96,355 or even more before the end of 2021. The report included the following statements on the subject:
“Assuming BTC continues to follow in the footsteps of the fourth quarter of 2017, we can expect it to rise even higher by the end of the month. In some contexts, a 220% return in Q4 2021 would mean a price of $96,355 for BTC. ”
The platform also summarized the developments in the cryptocurrency space and drew attention to the increase from institutional fund flows to Bitcoin. Kraken believes that if the trend continues, the asset will continue to be the best performing asset in the future. He also noted that Ethereum lags significantly behind in these statistics:
“When we look at institutional fund flows to BTC and ETH investment products, we see that BTC saw historical net capital inflows in October, while ETH saw almost no net inflows throughout the month. ”
Kraken has given two separate price predictions based on two popular technical indicators, the Relative Strength Index (RSI) and Bollinger Bands. In both of these predictions, it was stated that Bitcoin will exceed the level of $ 100,000 in the last quarter.
Adam Back, CEO of Blockstream, Anthony Scaramucci, CEO of Skybridge Capital, and famous analyst PlanB are among the names who think that Bitcoin will reach its price target of $ 100,000 by the end of the year.
