According to certain technical indicators,Karaken predicts Bitcoin could hit $ 100,000 before the end of the year, according to stock exchange giant Kraken.

Karaken predicts that Bitcoin price could hit $ 100,000

Kraken is the largest global digital asset exchange by volume and liquidity in euros. Kraken’s global customer base trades over 60 digital assets and 7 fiat currencies. Over 7 million retailers, organizations and authorities trust Kraken for online support around the clock.

After the upward trend of this quarter, Bitcoin could reach around 96,000 US dollars, according to the Karaken exchange’s “October 2021 Market Outlook and Map”.

Kraken also describes recent developments in the cryptocurrency industry, particularly those related to Bitcoin. The price rally to a level not seen since April, investors’ desire to own BTC, which they call digital gold, and the approval of the first BTC futures ETF in the US are some of the industry’s most important achievements, according to the stock exchange.

Institutional inflows into Bitcoin have increased over the past month. If this pattern continues, the asset will be the top performer going forward, according to the exchange. In contrast, Ethereum, the second largest crypto project, is lagging far behind.

Kraken predicted the price of Bitcoin using two prominent technical indicators: RSI and Bollinger Bands. Both predict Bitcoin will hit $ 100,000 by the end of the fourth quarter, and at 71.7 the RSI has a chance to scale with spot market price movement. Statistics back up some of the strongest price predictions for this cycle.

Many analysts predict that Bitcoin price could reach $ 100,000

Like Kraken, many crypto analysts and experts estimate that Bitcoin will cross the $ 100,000 mark before the end of 2021.

According to expert Willy Woo, the range between $ 50,000 and $ 60,000 is a tough place to find support.

Adam Back, CEO of Blockstream, is one of them too. In August, when BTC was worth around $ 50,000, it forecast a price of $ 100,000 by the end of the year. He also linked bitcoin to gold, claiming bitcoin was superior.

Anthony Scaramucci, CEO of Skybridge Capital, shares this view. At the beginning of the year he said:

“I think we’ll see $ 100,000 in this coin later this year.”

It is noteworthy that the stock flow model developed from the nickname “PlanB” is even more bullish. Research predicts BTC will hit $ 135,000 in December, the analyst said.

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