Kraken is among the optimistic analysts that believe bitcoin will explore $100K before 2021 end. However, that is if the crypto mimics its historic price actions.
Kraken, a crypto exchange based in the US, forecasted that Bitcoin might surge to near $100,000 and surpass this level before we end 2021. That comes from the coin’s technical instruments.
Bitcoin to Touch News Highs
During its 2021 October Market Outlook and Recap, Kraken uses past events to explain its bullish Bitcoin forecast. It argued that Bitcoin usually sees success during Q4. That way, Bitcoin will hit $96,355 by the current quarter ends if it mimics its 2017 price movements.
Kraken also addressed the advancements seen by the crypto industry over the past few months, more so those related to Bitcoin. It pointed some significant milestones, including US approving Bitcoin futures ETH, surges past April’s highs, optimism to hit another high, and traders’ desire to invest in Bitcoin.
Bitcoin also saw increased institutional capital inflows over the past month. Kraken believes that if the current trend extends in the coming sessions, BTC will remain the top player in the coming future. In comparison, Ethereum fell behind considerably as far as those statistics are concerned.
Kraken uses two critical technical indicators to give an exclusive Bitcoin prediction. They are Bollinger Bands and the Relative Strength Index and indicate that $BTC will rise past $100,000 before Q4 ends.
Besides Kraken, most experts and crypto community participants expect the world’s largest crypto to record historic highs above $100,000 before the year ends. Blockstream CEO Adam Back is among the bullish experts. In August, the executive said that Bitcoin would hit $100,000 by the end of December. BTC/USD was at $50,000 during such remarks. He also said that Bitcoin was better than gold as a financial instrument.
Skyride Capital’s executive Anthony Scaramucci also supports the forecast. Early on the year, he said that Bitcoin has the momentum of touching $100,000 before year-end.
Meanwhile, the somewhat accurate stock-flow model by PlanB made a more optimistic BTC prediction. This analysis sees Bitcoin at $135,000 before 2022 January.