Crypto Exchange Kraken Shared Its Bitcoin Forecast

Crypto exchange Kraken has shared its Bitcoin forecast. Kraken predicted that Bitcoin could hit $100,000 by the end of the year.

With the approach of the end of the year in Bitcoin, new Bitcoin price predictions are coming from well-known people and institutions. Finally, a new Bitcoin price prediction came from the strategists of the popular cryptocurrency exchange Kraken. According to the report titled “October 2021 Market Summary and Outlook” published by the US-based cryptocurrency exchange Kraken, it was predicted that if Bitcoin repeats its past price movements, its price will rise to $ 96,355 before the end of 2021. The following statements were used in the Kraken report: "Assuming that BTC continues to follow the footsteps of the last quarter of 2017, we can expect it to rise even higher by the end of the month. In this context, the price of Bitcoin may reach $96,355 in Q4 2021, with a 220% rise." In addition, Kraken also evaluated the latest developments in the cryptocurrency market. Drawing attention to the institutional fund flow in cryptocurrencies, Kraken strategists noted that if this trend in the market continues, Bitcoin will continue to be the best performing asset in the coming years. Kraken strategists also said that Ethereum lags far behind Bitcoin in this regard. Kraken strategists, who made another price prediction considering the RSI and Bollinger Band indicators, predicted that Bitcoin will exceed 100 thousand dollars before the end of the year, according to these two indicators. On the other hand, Blockstream CEO Adam Back, Skybridge Capital CEO Anthony Scaramucci and famous analyst PlanB also believe that Bitcoin will exceed the 100 thousand dollar band before the end of the year.