Bitcoin Could Hit Near Six-Digit Price By Year End, Crypto Exchange Kraken Says

[ad_1]

The Kraken cryptocurrency exchange says Bitcoin could end the year with a massive increase that would more than double the value of BTC from its September closing price.

In a new report, Kraken says Bitcoin has generally had the best annual performance in the last three months of the year (Q4).

As positive of a quarter as the 3T ended up being for BTC, it should be noted that the 4T has always been the best quarter in BTC with an average and median return of + 119% and + 58%, respectively.

Based on the average return recorded over the years, Kraken says Bitcoin could end the year at close to $ 100,000.

“At the quarter-end BTC closing price of $ 43,800, a return of + 119% in 4Q2021 would place BTC at around $ 96,000.”

Kraken says a median return of 58% would see Bitcoin end the year appreciating to $ 69,000. Bitcoin is trading at around $ 54,800 at the time of writing, suggesting a potential upside of 25%.

The cryptocurrency exchange also indicates that October tends to be a more volatile month for Bitcoin than September. Bitcoin is up about 25% from the October opening price of $ 43,820.

“Focusing on October, we will see that the month is generally more volatile than September (average annualized volatility of 66% vs. 61%) and BTC tends to end + 13% higher when looking at historical averages. As October promises to be a good month for BTC, you have to take into account that November and December are just as good for bulls.

Don’t Miss a Beat Subscribe to receive crypto email alerts straight to your inbox Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check the latest news Disclaimer: Opinions Expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may suffer is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in Affiliate Marketing.

Featured Image: Shutterstock / intuition

[ad_2]