Crypto Exchange Kraken Claims Bitcoin will Hit $100,000K
Kraken exchange is the second-largest cryptocurrency exchange platform in the United States. During the Market Recap and OutLook conference for 2021, the exchange representatives made a bold claim on behalf of the organization. According to the statement, Bitcoin is en route to hitting the $100K price point before the end of the current year.
This is not the first time that anyone has expressed high hopes for the Bitcoin price movement. In the ongoing month, Bitcoin was able to attain another ATH by reaching as high as $69K. However, this massive price rally was sparked by the Department of Labor report that claimed that inflation is entering the US markets at the fastest rate in 30 years for the first time. Many economists opine that the price increase for Bitcoin is a signal for the arrival of superinflation in the markets.
The digital market experts from centralized exchange Kraken claimed that Bitcoin price movement is fashioned after 2017 behavior. To make the point, Kraken shared two technical indicators called the Relative Strength Index (RSI) and the Bollinger Band. The results of both these technical indicators proved that Bitcoin could acquire massive gains. It is worth mentioning here that for Bitcoin to reach $100K, a 220% gain is needed.
Further shedding light on the matter of altcoin overtakes, Kraken experts claimed that Ethereum is going to be left far behind in terms of statistical follow-up of Bitcoin. In a recent Twitter poll conducted by Market professional Carlo Armilo, 74.8% of the participants voted on bullish sentiment for the flagship crypto. Kraken expert added that the comparison of Bitcoin to digital gold and the introduction of the first-ever Bitcoin ETF in the USA have also contributed to generating positive sentiment for the top coin.
Bullish Predictions for Bitcoin
Kraken is not alone in garnering high hopes for Bitcoin. Blockstream CEO Adam Back also agrees with this theory. He had shown his support for the flagship cryptocurrency back in August when BTC was standing at $50K and continued to move downwards. Back went on to claim that Bitcoin is the digital equivalent of gold in the current day and age.
Another noteworthy Bitcoin maximalist is Anthony Scaramucci, the CEO of Skybridge Capital. Sharing his views as a traditional financial expert, he claimed that he does believe that Bitcoin will be able to score $100K before the end of the current year. He also shared these positive remarks about Bitcoin at the beginning of 2021. A popular technical indicator called the stock-to-flow model prepared by Plan B predicts that Bitcoin prices can go as high as $135,000 by December.