Wednesday, April 14, 2021
Home Crypto News Analysis Kraken Answered The Question Everyone Was Wondering: What Is Next For BTC...

Kraken Answered The Question Everyone Was Wondering: What Is Next For BTC Price

- Advertisement -

The price of Bitcoin (BTC) break the all-time high records. Bitcoin, which reached $ 41,000 and saw $ 42,000 on some exchanges, rose nearly 110% above the $ 20,000 level. The question that now everyone is wondering, where the price of BTC will stop.

Kraken, one of the leading US cryptocurrency exchanges, has given a rather bullish forecast in a Tweet. Kraken believe that if history repeats itself, a price between $ 79,040 and $ 118,560 could be seen.

The price of Bitcoin rose to $ 19,700, 10 to 15 times above the 200-week moving average level during the rally in 2017. At that time Kraken noted that after these levels, the bear market may start, which did in 2018. But now the increase of BTC price is different from 2017 as this time institution investors are involved in buying BTC, and Kraken believed that price of BTC will continue to rise.


Kraken is not the only institution or person to predict that the price of Bitcoin will continue to rise. Well-known analyst PlanB notes that the price of Bitcoin will rise above $ 100,000 almost from the beginning of 2019. According to the analyst, BTC is rising almost 10% each week above the 200-week moving average. At such a pace, the BTC price can easily reach $ 100,000 before the end of 2021.

Read Also: The Top Bitcoin Price Predictions For 2021

Renowned billionaire and investor Chamath Palihapitiya said he expected the BTC price to rise to $ 200,000, without giving a clear timeframe. In light of all this data and testimony, the idea that $ 40,000 is still not the peak is gaining strength.

Analyst Willy Woo also predicted that Bitcoin rally has not seen its peak yet.

Read Full story: According To Analyst Willy Woo, Bitcoin Bull Rally Yet To See Peak

- Advertisement -
Albert Brown
Albert Brown
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Binance List the Coinbase Stock Token (COIN)

Binance will list the Coinbase Stock Token (COIN) on 2021-04-14 (UTC), during which the COIN/BUSD trading pair will be open. Users will be able...

6 Blockchain Business Use Cases You Should Know

The potential of the distributed ledger technology (DLT) — an umbrella term of which blockchain is the most popular kind — is enormous. Businesses...

Europe’s Largest Digital Asset Investment Firm CoinShares Launches XRP Exchange Traded Product (ETP)

CoinShares, a major British cryptocurrency investment company, has announced it plans to list XRP (Ripple) exchange-traded fund (ETP) on the SIX Swiss Exchange. This ETP...

Coinbase Stock Hits The Market And Gets Reference Stock Price of $250 from Nasdaq

Nasdaq has released the figures for the reference stock price of Coinbase, the largest cryptocurrency exchange in the United States, which is scheduled to...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly