According to the research unit of cryptocurrency exchange Kraken, if history repeats, Bitcoin could increase by 50 to 200 percent in the coming months.
According to the report published by the crypto currency exchange Kraken, a historical bull rally is about to come… The report published by the San Francisco-based stock exchange stated that historical indicators signal a giant bull rally.
In the report, which stated that BTC will make an upward move against the dollar, it was stated that the largest crypto currency emerged from the bearish consolidation phase that started at the end of 2017.
“Macro factors also support”
While referring to historical indicators in the report, it was stated that BTC’s latest breakthrough marked an important Bitcoin bull rally and this move was also supported by macro factors.
The giant crypto exchange published its report after Bitcoin went above $ 10,500 and touched $ 12,000 for a short time. Although there were some profit gains at this stage, BTC managed to stay above the support threshold and started testing the upper resistance levels.
The report stated that a series of high price trials will favor the bull rally, while Bitcoin’s annual volatility fell by 23 percent in July.
‘Suppressed pocket’ estimate
Kraken is using the ‘Suppressed pocket’ prediction system to predict the upcoming Bitcoin bull rally. Generally, price movements in this system occur before a bull rally and BTC is currently in that phase.
“BTC could increase by 50 to 200 percent!”
Kraken comments that the volatility increase in the BTC / USD pair in July is also a harbinger of an upward trend. On top of that, Kraken states that BTC is likely to appreciate by 50 percent to 200 percent in the near future, which could increase volatility by 100 percent.
Historically, the next 12 examples show that whenever BTC volatility drops by between 15 and 30 percent, it experiences a bounce after a few months, with a maximum output reaching up to 140 percent.
In most of these events, Bitcoin bull rally is observed, in some even the price is up to 196 percent.