During a recent reports, Cryptocurrency exchange Kraken explains how Bitcoin is set go end the year with a massive bullish run. More so, this bullish uptrend will see BTC’s value double from its September closing price.
More so, Kraken reports that bitcoin has seen a record of the best performing asset. Especially, during the last three months of the year.
“As positive of a quarter as 3Q ended up being for BTC,..”
“…it ought to be noted that 4Q has historically been BTC’s best quarter with…”
“…an average and median return of +119% and +58%, respectively.”
Kraken adds,
Additionally, Kraken says Bitcoin had the potential to end the year around $100,000. Of course, Judging from the average return noted over the years.
“At BTC’s quarter-end closing price of $43,800, a +119% return…”
“…in 4Q2021 would put BTC at roughly $96,000.”
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Furthermore, Kraken explains that a median return of 58% will launch Bitcoin to appreciate to $69,000 before the end of the year. Currently, Bitcoin is trading at around $54,800 at time of writing. Which of course, represents an uptrend capacity of 25%.
Lastly, The cryptocurrency exchange, Kraken goes on to say that October seems more volatile for Bitcoin than September. Meanwhile, Bitcoin is about 25% uptrend from October’s opening price of $43,820.
“Shifting focus to October, one will see that the month is typically more volatile than Sept…”
“…(average annualized volatility of 66% vs. 61%), and BTC tends to finish +13% higher…”
“..when looking at historical averages. Though October has the promise of…”
“…being a favorable month for BTC, one should take heed to November..”
“..and December being just as favorable for the bulls.” Kraken concludes…
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