Bitcoin value (BTC) could rise to a staggering $322,478, according to the latest expert analysis from crypto exchange Kraken. A new report from Kraken Intelligence used Bitcoin’s 200-week moving average as a crystal ball, and based on price changes, a potential target was identified for the bulls. The bitcoin/dollar exchange rate drops to around $21,700 on Tuesday after a strong increase at the start of the week.
- Analysts looked at BTC multiples (skew size) against the 200-week moving average in the past
- BTC is currently trading near the 200-week moving average of around $21,498
- When the bitcoin price previously fell to its 200-week moving average, there were often big gains
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- More similar and interesting articles can be found on the main page of Comparic.pl
Kraken: Bitcoin (BTC) has potential for growth in the region of 215 to 322 thousand. dollar
Analysts from cryptocurrency exchange Kraken looked at historical Bitcoin price action to determine where the most important crypto asset might go in the long term. Kraken Intelligence’s new report uses Bitcoin’s 200-week moving average as a crystal ball.
In particular, Kraken looked at multiples (skew size) of BTC against the 200-week moving average in the past.
BTC is currently trading near its 200-week moving average around $21,498, and analysts’ charts show that when Bitcoin prime previously dropped to its 200-week moving average, there were often significant gains.
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If Bitcoin rises again to 10x to 15x its 200-week moving average, which Kraken analysts say it has done in the past, it will represent a future price range of $214,985 to $322,478.
Kraken Intelligence has also analyzed the Bitcoin price chart from its previous years.
The chart shows the Bitcoin high on December 11, 2017, which was around $19,660 when the cryptocurrency multiplier reached a local peak of 15.2x. It is also equivalent to 13.2 times that achieved in November 2013.
Of course, it is worth noting that BTC did not rise 10 or more times every time it touched its 200-day moving average.
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