Cryptocurrency exchange Kraken says bitcoin will grow 10 times

Analysts at the American cryptocurrency exchange Kraken expect bitcoin to rise to $ 356,841 during the next bull cycle. The industry experts base their assumption on technical analysis and the history of bitcoin’s price during previous growth cycles.

Thus, after the start of growth and the crossing of the 200-day moving average, the flagship cryptocurrency’s rate rose 10−15 times higher than its minimum values. Accordingly, the crypto exchange suggests that during the next growth cycle, the BTC rate may correlate in the price range from $ 237,894 to $ 356,841.

Kraken experts are also optimistic about the prospects for ethereum. According to analysts, during the next bullish trend, the ETH rate could rise to $ 28,471, which would be as much as 1,839% more than the current rate. At the time of writing, the ethereum rate is $ 1,519, with a market capitalization of $ 183.12 billion.

As a reminder, cryptocurrency analyst Michael van de Poppe predicted that bitcoin could reach $ 30,000 next month. The digital asset market has indeed grown slightly over the past day, with the total capitalization exceeding $ 1 trillion and bitcoin rising by 4.83%. At the time of writing, the flagship cryptocurrency is trading at $ 20,247. The market capitalization of the BTC was fixed at $ 388.12 billion.